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Jul 04, 2020
Universal Logistics Q2 2020 Earnings Report
Reported consolidated net income and decreased operating revenues.
Key Takeaways
Universal Logistics Holdings reported a decrease in operating revenues by 32.7% to $258.0 million, with a net income of $6.2 million, or $0.23 per share, for the second quarter of 2020. The results reflect the impact of the COVID-19 pandemic and subsequent manufacturing shutdowns, though the company adapted to meet customer demands and reported positive operating results.
Second quarter operating revenues decreased by 32.7% to $258.0 million.
Net income for the second quarter was $6.2 million, or $0.23 per share.
Operating income decreased by 64.7% to $10.8 million.
EBITDA decreased by $18.0 million to $30.2 million.
Revenue by Segment
Forward Guidance
Although it is difficult to predict the operating environment for second half of the year, Universal is generally pleased with the anticipated direction of its current operations and remain committed to controlling costs and scaling services to support customer activity.
Positive Outlook
- Resumption of North American manufacturing, particularly in the automotive and heavy-truck space
- Improving demand for truckload transportation throughout the second quarter
- Optimism that continued strength in retail sales will boost container volumes
- Anticipated direction of current operations
- Commitment to controlling costs and scaling services
Challenges Ahead
- Difficult to predict the operating environment for the second half of the year
- COVID-19 pandemic impact
- Uncertainty in port volumes
- Potential for continued economic disruption
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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