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Universal Logistics Holdings, Inc. (NASDAQ:ULH) Q3 2024 Earnings Conference Call October 25, 2024 10:00 AM ET Company Participants Steven Fitzpatrick - VP, Finance and IR Tim Phillips - CEO Jude Beres - CFO Conference Call Participants Andrew Cox - Stifel Operator Hello and welcome to Universal Logistics Holdings' Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] During the course of this call, management may make forward-looking s ...

Universal Logistics (ULH) came out with quarterly earnings of $1.01 per share, missing the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.41%. A quarter ago, it was expected that this trucking and logistics company would post earnings of $1.14 per share when it actually produced earnings of $1.17, delivering a surprise of 2.63%.Over the last f ...

Financial Performance - Third Quarter 2024 Operating Revenues increased to $426.8 million, a 1.3% increase year-over-year[1] - Third Quarter 2024 Operating Income rose to $42.6 million, reflecting a 16.0% increase compared to the previous year[1] - Third Quarter 2024 Earnings Per Share reached $1.01, a 14.7% increase from $0.88 in the same quarter last year[1] - Net income for the thirteen weeks ended September 28, 2024, was $26.5 million, compared to $23.0 million for the same period in 2023, reflecting a 10.8% increase[11] - Net income for the thirteen weeks ended September 28, 2024, was $26,540 thousand, an increase from $23,047 thousand for the same period in 2023, representing a growth of approximately 10.8%[17] - For the thirty-nine weeks ended September 28, 2024, net income was $109,731 thousand, up from $71,488 thousand in the prior year, representing a growth of approximately 53.5%[17] Segment Performance - Contract Logistics segment Operating Revenues increased by 17.8% to $245.2 million, with an Operating Income of $45.6 million and an operating margin of 18.6%[4] - Intermodal segment Operating Revenues decreased by 11.8% to $77.6 million, resulting in an Operating Loss of $(1.1) million[5] - Trucking segment Operating Revenues decreased by 10.3% to $87.0 million, with Operating Income of $7.1 million and an operating margin of 8.2%[6] - The average operating revenue per load in the trucking segment increased to $2,222, up from $2,033 in the prior year, indicating a 9.3% improvement[13] - The company reported a total of 103,970 loads in the intermodal segment for the thirteen weeks ended September 28, 2024, down from 119,792 loads in the same period last year, a decrease of 13.3%[13] Cash and Debt Management - As of September 28, 2024, the company held cash and cash equivalents of $11.8 million and outstanding debt of $561.2 million[8] - The company’s debt increased to $557.5 million as of September 28, 2024, compared to $381.9 million at the end of 2023, representing a 46.1% rise[12] Operational Metrics - Total operating revenues for the thirteen weeks ended September 28, 2024, were $426.8 million, a slight increase from $421.3 million for the same period in 2023, representing a 1.4% growth[14] - Operating expenses for the thirteen weeks ended September 28, 2024, were $384.2 million, nearly unchanged from $384.5 million in the same period last year[11] - EBITDA for the thirteen weeks ended September 28, 2024, was $72,922 thousand, compared to $56,735 thousand for the same period in 2023, reflecting an increase of about 28.5%[17] - EBITDA for the thirty-nine weeks ended September 28, 2024, was $254,630 thousand, compared to $169,298 thousand for the same period in 2023, reflecting an increase of about 50.4%[17] - EBITDA margin for the thirteen weeks ended September 28, 2024, was 17.1%, compared to 13.5% for the same period in 2023, showing a significant improvement[15] Dividend Information - The company declared a quarterly dividend of $0.105 per share, payable on January 2, 2025[7] - The company declared dividends of $0.105 per common share for both the current and prior year periods, maintaining consistency[11] Business Developments - The company ceased operations of its company-managed brokerage business, which reported pre-tax losses of approximately $8.6 million during the quarter[2] - Universal acquired Parsec, enhancing its contract logistics segment and allowing penetration into new verticals[3] Employee Metrics - The average number of value-added direct employees decreased to 5,189 from 5,439 year-over-year, a decline of 4.6%[13] Depreciation and Interest Expenses - Depreciation expense for the thirteen weeks ended September 28, 2024, was $25,536 thousand, up from $16,208 thousand in the prior year, showing a rise of approximately 57.7%[17] - Interest expense, net, increased to $7,416 thousand for the thirteen weeks ended September 28, 2024, from $6,495 thousand in the same period last year, marking a growth of about 14.2%[17] Tax Expenses - The company reported an income tax expense of $8,682 thousand for the thirteen weeks ended September 28, 2024, compared to $7,807 thousand for the same period in 2023, an increase of approximately 11.2%[17] EBITDA Limitations - The company emphasizes that EBITDA has limitations and should not be considered in isolation from GAAP measures, as it does not reflect cash expenditures or working capital needs[18] - The company will continue to rely primarily on GAAP results while using EBITDA and EBITDA margin as supplemental measures for performance evaluation[18]

WARREN, Mich., Aug. 2, 2024 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) announces the integration of the 2025 Peterbilt 579EV into its fleet as a part of our ongoing sustainability initiatives. Universal Intermodal Services, Inc., a subsidiary of Universal Logistics Holdings, Inc., is poised to use these electric vehicles to reduce its carbon footprint throughout Southern California. Universal's 2025 Peterbilt 579EVUniversal's 2025 Peterbilt 579EV John Wroby, President of Universal Inte ...

Universal Logistics Holdings, Inc. (NASDAQ:ULH) Q2 2024 Earnings Call July 26, 2024 10:00 AM ET Company Participants Steven Fitzpatrick - Vice President, Finance and Investor Relations Tim Phillips - Chief Executive Officer Jude Beres - Chief Financial Officer Conference Call Participants Bruce Chan - Stifel Operator Hello and welcome to Universal Logistics Holdings Second Quarter 2024 Earnings Conference Call. [Operator Instructions] During the course of this call, management may make forward-looking state ...

Universal Logistics (ULH) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.63%. A quarter ago, it was expected that this trucking and logistics company would post earnings of $0.73 per share when it actually produced earnings of $1.99, delivering a surprise of 172.60%. Over the last ...

• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA does not reflect any cash requirements for such replacements; and • EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; • EBITDA does not reflect changes in, or cash requirements for, our working capital needs; Universal Logistics Holdings Reports Second Quarter 2024 Financial ...

Quarterly Earnings Conference Call Dial-in Details: Universal Logistics Holdings, Inc. ("Universal") is a holding company whose subsidiaries provide a variety of customized transportation and logistics solutions throughout the United States and in Mexico, Canada and Colombia. Our operating subsidiaries provide our customers with supply chain solutions that can be scaled to meet their changing demands. We offer our customers a broad array of services across their entire supply chain, including truckload, bro ...

The first quarter 2024, Universal reported 491.9 million of revenue, $1.99 of earnings per share and an operational margin of 15.3%. This was the best earnings per share and operating margin for any quarter in Universal's history. In the contract logistics segment, revenues increased 48.4% to $313.5 million. This was largely due to our recent program award that ramps up in Q1 and will be completed by the end of 2024. At the end of Q1 2024, Universal managed 71 value added programs, compared to 65 at the end ...