Press release
Universal Logistics Holdings Reports Record Fourth Quarter 2022 Financial Results; Achieves Record Full-Year 2022 Financial Results; Declares Dividend
- Fourth Quarter 2022 Operating Revenues: $458.7 million, 1.9% decrease - Fourth Quarter 2022 Operating Income: $48.2 million, 102.6% increase - Fourth
About this update from Universal Logistics Holdings, Inc.
[{"type":"text","content":"- Fourth Quarter 2022 Operating Revenues: $458.7 million, 1.9% decrease\n- Fourth Quarter 2022 Operating Income: $48.2 million, 102.6% increase\n- Fourth Quarter 2022 Earnings Per Share: $1.27 per share, 111.7% increase\n- Declares Quarterly Dividend: $0.105 per share\nWARREN, Mich., Feb. 9, 2023 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) today reported consolidated fourth quarter 2022 net income of $33.4 million, or $1.27 per basic and diluted share, on total operating revenues of $458.7 million. This compares to net income of $16.2 million, or $0.60 per basic and diluted share, during fourth quarter 2021 on total operating revenues of $467.4 million. Universal's fourth quarter 2022 operating income and earnings per share represent the best fourth quarter results in company history. For the full year 2022, Universal reported $6.37 per basic and diluted share, on total operating revenues of $2.02 billion, both all-time records in company history. This compares to $2.74 per basic and diluted share, on total operating revenues of $1.75 billion for the full year 2021. \n\n \n \n \n \n \n \n\n \nIn the fourth quarter 2022, Universal's operating income increased $24.4 million to $48.2 million, compared to $23.8 million in the fourth quarter one year earlier. Included in fourth quarter 2021 operating results were $11.0 million of pre-tax charges related to previously disclosed items. As a percentage of operating revenue, operating margin for the fourth quarter 2022 was 10.5%, compared to 5.1% during the same period last year. EBITDA, a non-GAAP measure, increased $28.3 million during the fourth quarter 2022 to $68.0 million, compared to $39.7 million one year earlier. As a percentage of operating revenue, EBITDA margin for the fourth quarter 2022 was 14.8%, compared to 8.5% during the same period last year. The previously disclosed pre-tax charges recorded in the fourth quarter 2021 adversely impacted Universal's operating margin and EBITDA margin in that period by 230 basis points. \n\"2022 was a year of record setting financial performance for the company,\" stated Universal's CEO Tim Phillips. \"And we closed out the year with yet another, reporting our best ever fourth quarter earnings in company history. In fact, for the full year 2022, Universal more than doubled its net income and reported top-line revenue...