Press release
Universal Logistics Holdings Reports Fourth Quarter 2020 Financial Results; Announces Change in Reportable Segments; Declares Dividend; Announces Participation in Investor Conference
- Fourth Quarter 2020 Operating Revenues: $386.0 million, 2.7% increase - Fourth Quarter 2020 Operating Income: $23.5 million, 6.1% operating margin - Fourth
About this update from Universal Logistics Holdings, Inc.
[{"type":"text","content":"- Fourth Quarter 2020 Operating Revenues: $386.0 million, 2.7% increase\n - Fourth Quarter 2020 Operating Income: $23.5 million, 6.1% operating margin\n - Fourth Quarter 2020 Earnings Per Share: $0.60 per share\n - Declares Quarterly Dividend: $0.105 per share\n\n\nWARREN, Mich., Feb. 4, 2021 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH), a leading asset-light provider of customized transportation and logistics solutions, today reported consolidated fourth quarter 2020 net income of $16.2 million, or $0.60 per basic and diluted share, on total operating revenues of $386.0 million. This compares to net income of $8.7 million, or $0.32 per basic and diluted share, during fourth quarter 2019 on total operating revenues of $375.9 million. Included in fourth quarter 2019 operating income was a pre-tax charge of $2.9 million, or $0.08 per share, for a previously disclosed legal matter. Fourth quarter 2020 results include a $1.5 million pre-tax holding gain, or $0.04 per share, on marketable securities due to changes in fair value recognized in income compared to $0.5 million, or $0.01 per share, in the fourth quarter of 2019.\n\n \n \n \n \n \n \n\n \nIn the fourth quarter 2020, Universal reported operating income of $23.5 million compared to operating income of $15.5 million in the fourth quarter one year earlier. As a percentage of operating revenue, operating margin for the fourth quarter 2020 was 6.1% compared to 4.1% during the same period last year. EBITDA, a non-GAAP measure, increased by $6.4 million during the fourth quarter 2020 to $44.2 million, compared to $37.7 million one year earlier. As a percentage of operating revenue, EBITDA margin for the fourth quarter 2020 was 11.4% compared to 10.0% during the same period last year. \n\"I am excited to announce that the fourth quarter of 2020 was Universal's highest fourth quarter earnings on record,\" stated Tim Phillips, Universal's Chief Executive Officer. \"In the face of so many challenges, I would like to express my sincerest gratitude to the thousands of employees and contractors who have worked so hard to make this year a success. As we exit the year on a high note, we have a significant amount of opportunity in front of us. I remain bullish on the strength of North American automotive and Class 8 truck production, as well as our potential to capitaliz...