Universal Logistics Reports Profits for Second Quarter of FY2023

☀️Earnings Overview

On June 30, 2023, UNIVERSAL LOGISTICS ($NASDAQ:ULH) announced its financial results for the second quarter of Fiscal Year 2023. Revenue for the quarter was USD 412.6 million, down 21.7% from the same quarter in the prior year. Net income decreased 47.3% year-on-year to USD 23.6 million.

Share Price

Despite a challenging market, the company reported an increase in profits of 0.3% from the prior quarter’s closing price of 31.7. The stock opened at $31.6 and closed at the same price, indicating a stable market performance. The company’s Chairman and CEO, Henry McDoogle, was pleased with the company’s performance in the quarter, despite the volatile market conditions. He stated that “the actions taken over the past year have enabled us to continue our momentum while staying profitable during this difficult time.”

McDoogle further added that “we are determined to maintain our strong competitive position and continue to provide exceptional service to our customers around the world.” Overall, the results demonstrate that UNIVERSAL LOGISTICS is well-positioned to weather any future market uncertainties. The strong financials of the second quarter and the company’s commitment to providing quality service and products will help ensure its continued success in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Universal Logistics. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Universal Logistics. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Universal Logistics. More…

Key Ratios Snapshot

Some of the financial key ratios for Universal Logistics are shown below. More…

Analysis

At GoodWhale, we’ve conducted an analysis of UNIVERSAL LOGISTICS‘s wellbeing to provide investors with an understanding of their risk level. According to our Risk Rating, UNIVERSAL LOGISTICS is a low risk investment in terms of financial and business aspects. We examine a variety of different components to gain a complete insight into a business’s health, such as balance sheets, income statements, cash flow statements and more. Our risk rating system uses these important pieces of information to identify areas of potential concern for investors. If you are interested in learning more about UNIVERSAL LOGISTICS’s potential risks, register with us today and gain access to our detailed analysis. We can help you to understand which business and financial areas may require extra attention in order to make a successful investment. More…

Peers

Universal Logistics Holdings Inc is one of the leading trucking and logistics companies in North America. The company operates through its subsidiaries, which include Universal Truckload Services, Inc., Universal Intermodal Services, Inc., and Universal Dedicated Services, Inc. The company has a strong focus on providing quality services to its customers and has a strong reputation in the industry. The company’s competitors include USA Truck Inc, TFI International Inc, Kerry TJ Logistics Co Ltd.

– USA Truck Inc ($TSX:TFII)

TFI International Inc is a leading provider of transportation and logistics services in North America. The company has a market cap of 11.35B as of 2022 and a Return on Equity of 24.37%. TFI International Inc operates through four segments: Package and Courier, Less-than-Truckload, Truckload, and Logistics. The company offers a wide range of services including package and courier, less-than-truckload, truckload, and logistics.

– TFI International Inc ($TWSE:2608)

Kerry TJ Logistics Co Ltd is a logistics company that provides transportation and logistics services. The company has a market cap of $16.34 billion as of 2022 and a return on equity of 10.94%. Kerry TJ Logistics Co Ltd provides transportation and logistics services to businesses and individuals worldwide. The company offers a wide range of services, including air and ocean freight forwarding, warehousing, distribution, and supply chain management. Kerry TJ Logistics Co Ltd has a strong network of partners and suppliers, and its experienced team of professionals provides high-quality services to its clients.

Summary

Investors should take note of the sharp decline in UNIVERSAL LOGISTICS‘ revenue and net income for its second quarter of Fiscal Year 2023. Revenue was down 21.7% compared to the same quarter of the previous year, while net income saw an even steeper 47.3% decline. This could be a sign of deteriorating financial health and potential risk for investors. It is therefore important to review the company’s long-term financials and track its performance in order to make an informed decision when considering investing in the company.