Universal Logistics Q2 revenue, adjusted EPS fall on lower intermodal volumes - ULH News | RalliesUniversal Logistics Q2 revenue, adjusted EPS fall on lower intermodal volumes
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ULH• Outlook
- Universal says freight cycle is moving in a favorable direction
- Company says market conditions continue to evolve
Overview
- US logistics provider's Q2 operating revenue fell yr/yr amid lower intermodal volumes and pricing
- Adjusted EPS for Q2 fell to $0.16, with adjusted operating margin down to 4.2%
- Company declared quarterly dividend of $0.105 per share
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Operating Revenue | Miss | $379.30 mln | $389.60 mln (1 Analyst) |
| Q2 Adjusted EPS | Beat | $0.16 | $0.13 (1 Analyst) |
| Q2 EPS | | $0.99 | |
| Q2 Net Income | | $26.20 mln | |
- The one available analyst rating on the shares is "hold"
- The average consensus recommendation for the ground freight & logistics peer group is "buy."
- Wall Street's median 12-month price target for Universal Logistics Holdings Inc is $15.00, about 12.1% above its July 30 closing price of $13.38
- The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 19 three months ago
Result Drivers
- Contract logistics growth - Revenue in contract logistics rose 4.2% yr/yr, with higher fuel surcharges and improved operating margin, per co
- Intermodal weakness - Intermodal revenue and load volumes dropped sharply due to lower demand and pricing pressures, per co
- Trucking volume decline - Trucking segment saw lower load volumes and slightly reduced operating income, despite higher revenue per load, per co
