Universal Logistics Reports Q1 Loss on Weak Intermodal Performance

Key Details Universal Logistics Holdings posted a net loss of $3.51 million for the first quarter ending March 31, a sharp reversal from $6.01 million in net income during the same period last year. The Warren, Michigan-based company saw total operating revenue decline 3.9% to $367.6 million from $382.4 million. Why It Matters CEO Tim Phillips attributed the poor results to a slow start in January and February, with particular weakness in the intermodal segment facing lower volumes and pricing pressure. The company's intermodal revenue plummeted 32.3% to $47.9 million, with operating losses expanding to $13.1 million compared to $10.7 million in the prior year. Segment Performance Trucking revenue dropped 9.7% to $50.2 million as load volumes fell 8.9% and per-load rates declined 6%, slashing operating income by 72.7%. Contract logistics was the bright spot, posting a 5.3% revenue increase to $269.5 million, though operating income still fell 26.8%. Looking Ahead Phillips noted positive momentum as the quarter progressed and emphasized ongoing operational improvements in the intermodal franchise. The recovery, however, is taking longer than previously expected. Universal ranks 23rd among North America's largest for-hire carriers.