[Financial Highlights & CEO Commentary](index=1&type=section&id=Universal%20Logistics%20Holdings%20Reports%20Fourth%20Quarter%202024%20Financial%20Results%3B%20Declares%20Dividend) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Universal Logistics achieved its second-best financial performance in 2024, with Q4 operating revenues increasing **19.0%** to **$465.1 million** and full-year revenue and EPS showing significant growth Q4 & Full-Year 2024 vs 2023 Performance ($) | Metric | Q4 2024 | Q4 2023 | Change | Full Year 2024 | Full Year 2023 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenues | $465.1M | $390.9M | +19.0% | $1.85B | $1.66B | +11.4% | | Net Income | $20.2M | $21.4M | -5.6% | $129.9M | $92.9M | +39.8% | | Diluted EPS | $0.77 | $0.81 | -4.9% | $4.93 | $3.53 | +39.7% | Q4 2024 Key Operational Metrics (vs Q4 2023, $) | Metric | Q4 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Operating Income | $38.3M | $34.1M | +12.3% | | Operating Margin | 8.2% | 8.7% | -50 bps | | EBITDA (Non-GAAP) | $73.5M | $54.8M | +34.1% | | EBITDA Margin (Non-GAAP) | 15.8% | 14.0% | +180 bps | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Tim Phillips emphasized 2024 as the **second-best financial year**, driven by contract logistics and strong heavy-haul demand, with future focus on operational efficiency and cost control - The full-year 2024 marked the company's **second-best financial performance** in its history[3](index=3&type=chunk) - The **contract logistics segment** is considered the cornerstone of the company's success, with continued strategic investments like the recent **acquisition of Parsec**[3](index=3&type=chunk) - **Strong demand** for specialized, **heavy-haul services** contributed to solid results in the trucking segment[3](index=3&type=chunk) - Future focus is on **improving underperforming operations**, **increasing efficiency**, and **maintaining cost control**[3](index=3&type=chunk) [Segment Performance Analysis](index=2&type=section&id=Segment%20Information%3A) Q4 2024 saw strong revenue and operating income growth in Contract Logistics and Trucking, while Intermodal experienced significant declines and increased operating losses [Contract Logistics](index=2&type=section&id=Contract%20Logistics) Contract Logistics revenue surged **52.7%** to **$307.4 million** driven by acquisitions and projects, despite a margin decrease to **12.7%** due to Parsec-related depreciation Q4 2024 Contract Logistics Performance (vs Q4 2023, $) | Metric | Q4 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $307.4M | $201.3M | +52.7% | | Operating Income | $39.1M | $32.1M | +21.8% | | Operating Margin | 12.7% | 15.9% | -320 bps | - Revenue growth was significantly impacted by a **$51.3 million** specialty development project in Stanton, TN, and **$59.5 million** from the acquisition of Parsec[5](index=5&type=chunk) - The number of managed value-added programs increased to **90** from **71** in the prior year, including **20 new rail terminal operations**[5](index=5&type=chunk) - Operating margin was negatively impacted by **200 bps** due to **$6.0 million** of depreciation and amortization expense related to the Parsec acquisition[5](index=5&type=chunk) [Intermodal](index=2&type=section&id=Intermodal) Intermodal revenue declined **15.9%** to **$73.1 million** due to **15.3%** lower load volumes, resulting in a **$9.7 million** operating loss and **(13.2)%** negative margin Q4 2024 Intermodal Performance (vs Q4 2023, $) | Metric | Q4 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $73.1M | $86.9M | -15.9% | | Operating Loss | $(9.7)M | $(1.0)M | -870% | | Operating Margin | (13.2)% | (1.1)% | -1210 bps | - Load volumes declined by **15.3%** year-over-year[6](index=6&type=chunk) - The average operating revenue per load, excluding fuel surcharges, decreased by **2.2%** year-over-year[6](index=6&type=chunk) [Trucking](index=2&type=section&id=Trucking) Trucking revenue rose **11.5%** to **$83.8 million** despite lower volumes, driven by a **30.5%** increase in heavy-haul revenue per load, boosting operating income to **$5.8 million** Q4 2024 Trucking Performance (vs Q4 2023, $) | Metric | Q4 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Operating Revenues | $83.8M | $75.2M | +11.5% | | Operating Income | $5.8M | $2.5M | +132% | | Operating Margin | 6.9% | 3.3% | +360 bps | - Despite a **17.0% decline** in load volumes, the average operating revenue per load (excluding fuel) increased by **30.5%**, primarily driven by the **specialty, heavy-haul wind business**[7](index=7&type=chunk) [Shareholder Information](index=3&type=section&id=Shareholder%20Information) [Cash Dividend and Financial Position](index=3&type=section&id=Cash%20Dividend%20and%20Financial%20Position) The Board declared a **$0.105** per share cash dividend, with the company holding **$19.4 million** in cash and **$762.6 million** in debt as of December 31, 2024 - A cash dividend of **$0.105 per share** has been declared, payable on April 1, 2025, to shareholders of record on March 3, 2025[11](index=11&type=chunk) Financial Position as of Dec 31, 2024 ($) | Item | Amount | | :--- | :--- | | Cash and cash equivalents | $19.4M | | Marketable securities | $11.6M | | Outstanding debt | $762.6M | | Capital expenditures (Q4) | $37.4M | - An earnings conference call is scheduled for 10:00 a.m. Eastern Time on Friday, **February 7, 2025**[14](index=14&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Unaudited Condensed Consolidated Statements of Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income) Full-year 2024 operating revenues reached **$1.85 billion** with net income at **$129.9 million**, while Q4 revenues rose to **$465.1 million** despite a slight net income decrease Full Year Income Statement Highlights (in thousands, $) | Account | 2024 | 2023 | | :--- | :--- | :--- | | Total operating revenues | $1,846,035 | $1,662,139 | | Income from operations | $203,112 | $145,444 | | Net income | $129,907 | $92,901 | | Diluted EPS | $4.93 | $3.53 | Q4 Income Statement Highlights (in thousands, $) | Account | Q4 2024 | Q4 2023 | | :--- | :--- | :--- | | Total operating revenues | $465,131 | $390,920 | | Income from operations | $38,283 | $34,092 | | Net income | $20,175 | $21,412 | | Diluted EPS | $0.77 | $0.81 | [Unaudited Condensed Consolidated Balance Sheets](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to **$1.79 billion** as of December 31, 2024, from **$1.25 billion** in 2023, with total liabilities increasing to **$1.14 billion** due to higher debt Consolidated Balance Sheet Highlights (in thousands, $) | Account | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total current assets | $409,813 | $365,473 | | Property and equipment - net | $742,366 | $561,088 | | **Total assets** | **$1,787,732** | **$1,253,523** | | Debt - net | $759,085 | $381,924 | | **Total liabilities** | **$1,140,709** | **$721,325** | | **Total shareholders' equity** | **$647,023** | **$532,198** | [Unaudited Summary of Operating Data](index=7&type=section&id=Unaudited%20Summary%20of%20Operating%20Data) Full-year 2024 saw Contract Logistics revenue reach **$1.13 billion** and operating income **$219.1 million**, while Intermodal incurred a **$27.7 million** loss and Trucking operating income grew to **$21.0 million** Full Year Operating Income by Segment (in thousands, $) | Segment | 2024 | 2023 | | :--- | :--- | :--- | | Contract logistics | $219,084 | $127,752 | | Intermodal | $(27,741) | $1,604 | | Trucking | $20,963 | $17,258 | Q4 Key Operational Metrics by Segment (2024 vs 2023) | Metric | Segment | Q4 2024 | Q4 2023 | | :--- | :--- | :--- | :--- | | Number of loads | Intermodal | 100,457 | 118,553 | | Avg. revenue per load (ex-fuel) | Intermodal | $537 | $549 | | Number of loads | Trucking | 36,068 | 43,468 | | Avg. revenue per load (ex-fuel) | Trucking | $2,183 | $1,673 | [Non-GAAP Financial Measures](index=9&type=section&id=Non-GAAP%20Financial%20Measures) [EBITDA Reconciliation](index=9&type=section&id=EBITDA%20Reconciliation) EBITDA, a non-GAAP measure, increased to **$73.5 million** in Q4 2024 with a **15.8%** margin, and reached **$328.1 million** for the full year 2024 - The company presents **EBITDA** and **EBITDA margin** to assist investors in comparing performance across reporting periods by excluding items not indicative of core operating performance, such as interest, taxes, depreciation, and amortization[25](index=25&type=chunk)[27](index=27&type=chunk) Reconciliation of Net Income to EBITDA (in thousands, $) | Line Item | Q4 2024 | Q4 2023 | Full Year 2024 | Full Year 2023 | | :--- | :--- | :--- | :--- | :--- | | Net income | $20,175 | $21,412 | $129,907 | $92,901 | | Income tax expense | $7,109 | $7,239 | $43,835 | $31,398 | | Interest expense, net | $9,828 | $6,163 | $30,207 | $22,753 | | Depreciation | $29,198 | $16,844 | $102,688 | $64,365 | | Amortization | $7,195 | $3,131 | $21,500 | $12,671 | | **EBITDA** | **$73,505** | **$54,789** | **$328,137** | **$224,088** | | **EBITDA margin** | **15.8%** | **14.0%** | **17.8%** | **13.5%** |

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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 ...

Core Points - Universal Logistics Holdings, Inc. is a holding company that provides customized transportation and logistics solutions across the United States, Mexico, Canada, and Colombia [1][6] - The company offers a wide range of supply chain services, including truckload, brokerage, intermodal, dedicated, and value-added services [1] Financial Results Announcement - Universal Logistics is set to release its second quarter 2024 financial results after market close on July 25, 2024 [6] - A quarterly earnings conference call will take place on July 26, 2024, at 10:00 a.m. Eastern Time [6][5] Conference Call Details - The conference call can be accessed toll-free at (800) 836-8184 or internationally at +1 (646) 357-8785 [5] - A replay of the conference call will be available until August 2, 2024, using the entry code 07642 [3]