Universal Logistics Holdings Tops Previous Record-Setting Results in the Third Quarter 2022; Declares Dividend

• Third Quarter 2022 Operating Revenues: $209.5 million, 33.5% increase
• Third Quarter 2022 Operating Income: $35.4 million, 16.9% operating margin

In the contract logistics segment, which includes our value-added and dedicated services, third quarter 2022 operating revenues increased $52.6 million, or 33.5% to $209.5 million compared to $156.9 million for the same period last year. At the end of the third quarter 2022, we managed 63 value-added programs compared to 61 such programs at the end of the third quarter 2021, and we increased our dedicated transportation load volumes 11.4% over the same period last year. Included in contract logistics segment revenues were $11.3 million in separately identified fuel surcharges from dedicated transportation services, compared to $5.1 million during the same period last year. In the contract logistics segment, third quarter 2022 income from operations increased $29.4 million to $35.4 million, compared to $6.0 million during the same period last year. Included in the contract logistics segment in the third quarter 2021 were $7.1 million of losses incurred in connection with a previously announced program launch. As a percentage of revenue, operating margin for the third quarter 2022 was 16.9%, compared to 3.8% during the same period last year. The launch losses recorded in the third quarter 2021 adversely impacted this segment's operating margin by 460 basis points in that period last year. 

Intermodal

• Third Quarter 2022 Operating Revenues: $154.4 million, 27.6% increase
• Third Quarter 2022 Operating Income: $28.1 million, 18.2% operating margin

Operating revenues in the intermodal segment increased $33.4 million to $154.4 million in the third quarter 2022, compared to $121.0 million for the same period last year. Included in intermodal segment revenues for the recently completed quarter were $26.4 million in separately identified fuel surcharges compared to $13.2 million during the same period last year. Intermodal segment revenues also include other accessorial charges such as detention, demurrage and storage which totaled $31.3 million during the third quarter 2022, compared to $23.3 million one year earlier. The average operating revenue per load, excluding fuel surcharges, increased 35.2%; however, load volumes declined 14.8% year-over-year. Third quarter 2022 income from operations increased $26.2 million to $28.1 million compared to $1.9 million during the same period last year.  Prior year intermodal segment results included legal charges totaling $5.8 million in the third quarter 2021. As a percentage of revenue, operating margin for the third quarter 2022 was 18.2% compared to 1.6% during the same period last year. The third quarter 2021 legal charges adversely impacted intermodal's operating margin by 480 basis points in that period last year.

Trucking

• Third Quarter 2022 Operating Revenues: $99.6 million, 7.0% decrease
• Third Quarter 2022 Operating Income: $4.8 million, 4.8% operating margin

In the trucking segment, third quarter 2022 operating revenues decreased $7.6 million to $99.6 million compared to $107.2 million for the same period last year. Third quarter 2022 trucking segment revenues included $43.1 million of brokerage services, compared to $43.0 million during the same period last year. Also included in our trucking segment revenues for the recently completed quarter were $9.1 million in separately identified fuel surcharges compared to $6.5 million in such surcharges during the same period last year.  On a year-over-year basis, the average operating revenue per load, excluding fuel surcharges, increased 26.6%; however, load volumes declined 30.2% as we rationalized underperforming operations in this segment. Income from operations in the third quarter 2022 decreased $2.0 million to $4.8 million compared to $6.8 million during the same period last year. As a percentage of revenue, operating margin for the third quarter 2022 was 4.8% compared to 6.4% during the same period last year.

Company-managed Brokerage

• Third Quarter 2022 Operating Revenues: $40.6 million, 31.4% decrease
• Third Quarter 2022 Operating Income: $1.1 million, 2.7% operating margin

Third quarter 2022 operating revenues in the company-managed brokerage segment decreased $18.6 million to $40.6 million compared to $59.2 million for the same period last year. Company-managed brokerage segment average operating revenue per load, excluding fuel surcharges, decreased 8.2% and load volumes declined 31.0% on a year-over-year basis. Third quarter 2022 income from operations in the company-managed brokerage segment was $1.1 million which compares to $1.8 million one year earlier.  As a percentage of revenue, operating margin for the third quarter 2022 was 2.7% compared to 3.0% during the same period last year.

Cash Dividend

Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock.  The dividend is payable to shareholders of record at the close of business on December 5, 2022 and is expected to be paid on January 3, 2023.

Other Matters 

As of October 1, 2022, Universal held cash and cash equivalents totaling $14.6 million, and $8.6 million in marketable securities. Outstanding debt at the end of the third quarter 2022 was $393.7 million and capital expenditures during the period totaled $48.3 million.

Universal calculates and reports selected financial metrics not only for purposes of our lending arrangements but also in an effort to isolate and exclude the impact of non-operating expenses related to our corporate development activities. These statistics are described in more detail below in the section captioned "Non-GAAP Financial Measures."

Conference call:

We invite investors and analysts to our quarterly earnings conference call. 

Quarterly Earnings Conference Call Dial-in Details:

     Time:  10:00 a.m. Eastern Time
     Date:  Friday, October 28, 2022
     Call Toll Free:  (877) 270-2148
     International Dial-in:  +1 (412) 902-6510
     Conference ID:  10171516

A replay of the conference call will be available through November 4, 2022, by calling (877) 344-7529 (toll free) or +1 (412) 317-0088 (toll) and using encore replay code 6817218. The call will also be available on investors.universallogistics.com.

About Universal:

Universal Logistics Holdings, Inc. ("Universal") is a holding company that owns subsidiaries engaged in providing a variety of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia.  Our operating subsidiaries provide customers with supply chain solutions that can be scaled to meet their changing demands and volumes. Universal's consolidated subsidiaries offer customers a broad array of services across the entire supply chain, including truckload, brokerage, intermodal, dedicated, and value-added services. In this press release, the terms "us," "we," "our," or the "Company" refer to Universal and its consolidated subsidiaries. 

Forward Looking Statements

Some of the statements contained in this press release might be considered forward-looking statements. These statements identify prospective information. Forward-looking statements can be identified by words such as: "expect," "anticipate," "intend," "plan," "goal," "prospect," "seek," "believe," "targets," "project," "estimate," "future," "likely," "may," "should" and similar references to future periods. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. These forward-looking statements are subject to a number of factors that may cause actual results to differ materially from the expectations described. Additional information about the factors that may adversely affect these forward-looking statements is contained in Universal's reports and filings with the Securities and Exchange Commission. Universal assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.

UNIVERSAL LOGISTICS HOLDINGS, INC. Unaudited Condensed Consolidated Statements of Income (In thousands, except per share data)
		Thirteen Weeks Ended								Thirty-nine Weeks Ended
		October 1,				October 2,				October 1,				October 2,
		2022				2021				2022				2021
Operating revenues:
Truckload services		$	58,107			$	65,458			$	176,651			$	184,040
Brokerage services			83,687				102,229				292,789				301,680
Intermodal services			154,391				121,018				468,869				331,336
Dedicated services			86,613				51,742				241,551				150,099
Value-added services			122,894				105,147				376,875				316,453
Total operating revenues			505,692				445,594				1,556,735				1,283,608
Operating expenses:
Purchased transportation and equipment rent			208,870				212,910				668,216				600,273
Direct personnel and related benefits			127,721				118,371				391,723				336,923
Operating supplies and expenses			44,734				43,811				132,886				113,616
Commission expense			10,632				9,086				31,412 Werbung Mehr Nachrichten zur Universal Logistics Holdings Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 12:00 - wallstreet:online ... US-Wachstumswerte: Welche Magnificent-7-Aktien sind weiterhin aussichtsreich? 10:27 - Boersia.de Nvidia Aktie: Kursanstieg nach Technologieinvestitionen 27.04.24 - wallstreet:online ... IWF-Frühjahrsprognose: Weltwirtschaft stabil dank USA und Schwellenländern! Biotech-Einhorn!    Ist das die nächste Milliarden-CBD-Übernahmestory? weiterlesen» Anzeige wo-site-teaser-box-16782_site-teaser-box_2024-04-28_09%253A00%253A00_2024-04-29_09%253A00%253A59