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Jul 01, 2023
Universal Logistics Q2 2023 Earnings Report
Reported a decrease in operating revenues and net income compared to the same quarter last year, while contract logistics segment showed revenue growth.
Key Takeaways
Universal Logistics Holdings reported a decrease in operating revenues by 21.7% to $412.6 million and a decrease in net income to $23.6 million, or $0.90 per share, compared to the second quarter of 2022. The contract logistics segment experienced a slight increase in operating revenues, while other segments faced declines due to decreased freight volumes and rates.
Operating revenues decreased by 21.7% to $412.6 million.
Net income decreased to $23.6 million, or $0.90 per share.
Contract logistics segment operating revenues increased by 0.7% to $208.8 million.
Operating income decreased $28.3 million to $36.4 million.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in the provided document. The CEO mentioned commitment to managing controllable costs and making thoughtful investments to support future growth opportunities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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