Universal Logistics reports Q2 EPS 32c vs. $1.17 last year

Reports Q2 revenue $393.8M vs. $462.2M last year. “Universal’s results for the second quarter, although muted, were broadly in-line with our previously guided expectations,” stated Tim Phillips, Universal’s CEO. “Our contract logistics segment continues to deliver solid results and demonstrates the strategic advantage of Universal’s diverse service offerings. Our trucking segment also performed well, sequentially growing their results on both the top and bottom lines. While our intermodal franchise continues to underperform, we are making progress on our profitability initiatives, narrowing our losses on a quarter-over-quarter basis. As we continue to navigate a persistently weak freight backdrop, we remain committed to delivering exceptional service to our customers and making strategic investments to drive our long-term growth initiatives.”