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Oct 02, 2021
Universal Logistics Q3 2021 Earnings Report
Reported consolidated net income and total operating revenues for Q3 2021.
Key Takeaways
Universal Logistics Holdings reported consolidated third quarter 2021 net income of $10.3 million, or $0.38 per basic and diluted share, on total operating revenues of $445.6 million. Third quarter 2021 operating revenues represent Universal’s highest quarterly revenues ever reported.
Operating revenues increased by 22.1% to $445.6 million.
Net income was $10.3 million, or $0.38 per share.
Operating income decreased to $16.7 million, including $12.9 million in litigation and launch losses.
The Board of Directors declared a cash dividend of $0.105 per share of common stock.
Revenue by Segment
Forward Guidance
Universal anticipates ongoing challenges from the chip shortage and supply chain disruptions, but sees opportunities in its brokerage operations and pent-up demand for vehicles. The company is cautiously optimistic about efforts to improve supply chain fluidity and remains focused on cost control and customer service.
Positive Outlook
- Company-managed brokerage is producing solid results.
- Transportation rates are at record highs and expected to remain elevated.
- Considerable pent-up demand for passenger and commercial vehicles.
- Recent efforts by retailers and port operators to increase supply chain fluidity.
- Commitment to managing costs and delivering outstanding service.
Challenges Ahead
- Ongoing chip shortage and supply chain disruptions hampered automotive production.
- Contract logistics business significantly underperforming due to industry-wide conditions and launch losses.
- Unprecedented congestion at ports and rails.
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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