Universal Logistics reports Q1 EPS $1.99 vs. 95c last year

Reports Q1 operating revenues of $491.9M vs. $437.4M last year. “I am extremely pleased with Universal’s overall results in the first quarter of 2024. Bolstered by a recently awarded program, our contract logistics segment continues to deliver significant value to our customers while serving as a meaningful differentiator in our business model. Our agent-based trucking business also generated solid returns, although our intermodal and company-managed brokerage segments experienced significant margin pressure during this prolonged freight recession. We continue to remain highly-focused on managing our controllable costs, increasing our productivity, and returning these under-performing operations back to profitability. Overall, I remain bullish on Universal’s outlook and, with our best-in-class contract logistics franchise leading the way, I am excited about our prospects for a strong 2024,” stated Universal’s CEO Tim Phillips last night.