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ULH

Universal Logistics Holdings, Inc.

ULH

Universal Logistics Holdings, Inc. • NASDAQ
$15.02 ▼ -0.66% (-0.10)
Market Cap $395.48 M
52w High $52.39
52w Low $12.78
Dividend Yield 0.42%
P/E -9.75
Volume 19.53K
Outstanding Shares 26.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $396.786M ▲ $107.635M ▲ $-74.772M ▼ -18.844% ▼ $-2.84 ▼ $-35.057M ▼
Q2-2025 $393.794M ▲ $26.02M ▲ $8.316M ▲ 2.112% ▲ $0.32 ▲ $58.983M ▲
Q1-2025 $382.39M ▼ $24.397M ▼ $6.014M ▼ 1.573% ▼ $0.23 ▼ $54.674M ▼
Q4-2024 $465.131M ▲ $24.6M ▼ $20.176M ▼ 4.338% ▼ $0.77 ▼ $75.518M ▲
Q3-2024 $426.833M $29.423M $26.54M 6.218% $1.01 $74.052M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $37.172M ▲ $1.817B ▼ $1.239B ▲ $578.072M ▼
Q2-2025 $34.2M ▲ $1.86B ▲ $1.206B ▲ $653.693M ▲
Q1-2025 $32.591M ▲ $1.8B ▲ $1.154B ▲ $646.402M ▼
Q4-2024 $30.941M ▲ $1.787B ▲ $1.14B ▲ $647.023M ▲
Q3-2024 $23.523M $1.555B $923.912M $630.982M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $8.316M ▲ $25.715M ▼ $-78.546M ▼ $55.664M ▲ $3.736M ▲ $-58.55M ▼
Q1-2025 $6.014M ▼ $84.308M ▲ $-51.495M ▲ $-25.357M ▼ $1.251M ▼ $31.735M ▲
Q4-2024 $20.176M ▼ $59.738M ▲ $-243.899M ▼ $198.608M ▲ $7.517M ▲ $18.948M ▲
Q3-2024 $26.54M ▼ $6.202M ▼ $-74.401M ▲ $70.644M ▲ $4.348M ▲ $-58.899M ▲
Q2-2024 $30.734M $9.55M $-76.228M $66.605M $-3.638M $-67.59M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Brokerage Services
Brokerage Services
 $80.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Dedicated Services
Dedicated Services
 $170.00M ▲$90.00M ▼$80.00M ▼$90.00M ▲
Intermodal Services
Intermodal Services
 $150.00M ▲$70.00M ▼$70.00M ▲$60.00M ▼
Truckload Services
Truckload Services
 $130.00M ▲$40.00M ▼$50.00M ▲$50.00M ▲
Value Added Services
Value Added Services
 $400.00M ▲$170.00M ▼$180.00M ▲$180.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Universal Logistics has shown that it can earn solid profits when freight markets are healthy, but results are clearly cyclical. Revenue climbed strongly coming out of 2020, peaked in 2022, dipped in 2023, and recovered again in 2024, though still below the peak. Profitability followed a similar pattern: very strong in 2022, then pressured as the freight market softened, with some recovery in 2024. The company still produces healthy operating and net margins for a trucking and logistics business, which suggests decent pricing power and cost control, especially in higher-value services. However, the recent report of a net loss in late 2025, driven by weaker freight demand and write‑downs, is a reminder that earnings can swing quickly in this industry.

Balance Sheet

Balance Sheet The balance sheet shows a business that has been growing and investing, with total assets and shareholders’ equity rising steadily over the last five years. At the same time, debt has increased noticeably more recently, and cash on hand remains quite limited. This combination points to a more leveraged, capital‑intensive model that depends on steady cash generation to remain comfortable. The build‑up in equity is a positive, as it provides a thicker cushion against downturns, but the higher debt load and small cash balance leave less room for prolonged weakness in volumes or pricing.

Cash Flow

Cash Flow Operating cash flow has generally been positive and healthy, confirming that reported profits are largely backed by real cash generation. However, free cash flow has been uneven, and recently negative, because the company has been spending heavily on equipment and facilities. This pattern fits a strategy of reinvesting aggressively to upgrade the fleet, expand logistics capabilities, and support specialized services. The trade‑off is tighter short‑term flexibility: substantial capital spending, combined with modest cash reserves, increases reliance on credit lines and ongoing cash inflows from operations.

Competitive Edge

Competitive Edge Universal sits in a very competitive, fragmented trucking and logistics market, but it has carved out some meaningful niches. Its strengths lie in complex, time‑sensitive logistics for industries like automotive, aerospace, energy, and metals, where reliability and customization matter more than the lowest possible rate. The company offers a broad mix of services—truckload, intermodal, dedicated fleets, warehousing, and in‑plant logistics—which makes it a one‑stop shop for many customers. The hybrid model of being both asset‑light and asset‑based gives flexibility but also raises capital needs. Deep relationships with large automotive customers and expertise in heavy‑haul and wind energy logistics provide differentiation, yet customer concentration, exposure to the U.S. manufacturing cycle, and intense price competition remain structural risks.

Innovation and R&D

Innovation and R&D While Universal does not present itself as a traditional R&D‑driven company, it has meaningful operational and technology innovation. Its proprietary AccuLinc platform is a core differentiator, giving customers real‑time visibility into inventory and shipments and integrating tightly with their existing systems. This kind of embedded software tends to create sticky relationships and higher switching costs. The company also experiments with electric trucks and continues to refine specialized logistics offerings like sequencing, kitting, and sub‑assembly for automotive, and oversized heavy‑haul for wind energy. Future value will likely come more from process and systems innovation—better data, automation, and integration—than from big research projects. The key question is how consistently Universal can enhance its tech stack and specialized services faster than competitors trying to catch up.

Summary

Overall, Universal Logistics looks like a specialized, higher‑value player within a tough, cyclical trucking and logistics market. Financially, it has shown an ability to generate solid profits and good operating cash flow in normal conditions, but results are sensitive to freight cycles, as highlighted by the recent loss amid a softer market and impairments. The balance sheet reflects growth and reinvestment, with rising equity but also higher leverage and a small cash buffer, which increases exposure to downturns. Strategically, the company’s strengths lie in its proprietary logistics platform, deep expertise in complex industries (especially automotive), and growing focus on heavy‑haul and renewable energy logistics. Opportunities revolve around expanding specialized freight and contract logistics, while key risks include economic slowdowns, freight rate pressure, customer concentration, and the cash demands of a capital‑intensive model. The company’s future trajectory will depend on how well it can balance investment and debt with the more volatile nature of freight demand.

NEWS

November 6, 2025 · 4:15 PM UTC

Universal Logistics Holdings, Inc. Reports Third Quarter 2025 Financial Results; Declares Dividend

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October 23, 2025 · 5:12 PM UTC

Universal Logistics Holdings, Inc. Postpones Third Quarter 2025 Earnings Release

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October 15, 2025 · 4:15 PM UTC

Universal Logistics Holdings, Inc. to Report Third Quarter 2025 Earnings on Thursday, October 23, 2025

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