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Mar 30, 2024
Universal Logistics Q1 2024 Earnings Report
Reported consolidated first quarter net income with increased operating revenues.
Key Takeaways
Universal Logistics Holdings reported a strong first quarter in 2024, with net income reaching $52.5 million, or $1.99 per share, on operating revenues of $491.9 million. This represents a significant increase compared to the first quarter of 2023, driven by the contract logistics segment.
Operating revenues increased by 12.5% to $491.9 million.
Net income rose to $52.5 million, equivalent to $1.99 per share.
Operating income increased by $36.9 million to $75.1 million.
Contract logistics segment revenue increased 48.4% to $313.5 million.
Revenue by Segment
Forward Guidance
Universal remains highly focused on managing controllable costs, increasing productivity, and returning under-performing operations back to profitability. Overall, the company remains bullish on its outlook and anticipates a strong 2024, led by its contract logistics franchise.
Positive Outlook
- Contract logistics segment continues to deliver significant value.
- Agent-based trucking business generated solid returns.
- Focus on managing controllable costs.
- Increasing productivity across all segments.
- Prospects for a strong 2024.
Challenges Ahead
- Intermodal segment experienced significant margin pressure.
- Company-managed brokerage segments experienced significant margin pressure.
- Prolonged freight recession impacting margins.
- Under-performing operations need to return to profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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