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Apr 01, 2023
Universal Logistics Q1 2023 Earnings Report
Reported a decrease in revenue and operating income due to a challenging transportation environment.
Key Takeaways
Universal Logistics Holdings reported a decrease in first quarter 2023 net income to $24.9 million, or $0.95 per share, on total operating revenues of $437.4 million. The results were impacted by weak import volumes, elevated inventory levels, and excess capacity.
Operating revenues decreased by 16.5% to $437.4 million.
Net income decreased to $24.9 million, or $0.95 per share.
Operating income decreased by 34.0% to $38.2 million.
Contract logistics segment was a cornerstone, with revenues increasing by 4.8%.
Revenue by Segment
Forward Guidance
Company anticipates firm demand in contract logistics through the remainder of the year and believes their business model is sound, and they are well positioned when a recovery in the freight cycle begins.
Positive Outlook
- Robust demand in contract logistics segment.
- Anticipated firm demand in contract logistics through the remainder of the year.
- Diversification strategy increasingly evident during a transportation down-cycle.
- Believe their business model is sound.
- Well positioned when a recovery in the freight cycle begins.
Challenges Ahead
- Weak import volumes.
- Elevated inventory levels.
- Excess capacity.
- Downward pressure on freight volumes and rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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