Reports Q3 revenue $426.8M vs. $421.5M last year. “Universal’s diverse service offerings continue to be a strategic advantage, consistently driving stand-out results in our space,” commented CEO Tim Phillips. “Our contract logistics segment once again delivered outstanding results and remains the key to our success. I am also excited to have recently acquired Parsec, a market-leading provider of rail terminal management services, which allows our contract logistics segment to penetrate new verticals and grow our core logistics service offerings. Our trucking segment also performed well during the quarter and continues to show strong demand for our specialized, heavy-haul solution. While I am pleased with Universal’s overall performance, the third quarter wasn’t without its challenges. We continue to navigate a deeply depressed freight environment, and we also made the difficult but necessary decision to close our company-managed brokerage operation. We remain committed to making sound business decisions and executing on our strategy to ensure Universal’s continued, long-term success.”
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Read More on ULH:
- Universal Logistics Holdings Inc (ULH) Q3 Earnings Cheat Sheet
- Universal Logistics announces new intermodal terminal in WA region
- Universal Logistics Expands Rail Services with Parsec Acquisition
- Universal Logistics acquires Parsec for $193.6M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
