ULH

Third Quarter 2026 Highlights - Operating Revenues of $394.0 million - Operating Income of $32.8 million - Diluted Earnings Per Share of $0.69 - Debt - net of $678.1 million and Operating Debt(a) of $500.5 million - Credit Agreement Leverage Ratio(a) of 1.98x - Revolving Credit Facility Extended Through September 30, 2029 - Declares Quarterly Dividend: $0.105 per share WARREN, Mich., Oct. 29, 2026 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH), a diversified transportation and logistics company, today reported consolidated operating revenues of $394.0 million, income from operations of $32.8 million, net income of $18.1 million, and earnings per basic and diluted share of $0.69 for the third quarter 2026. For comparative purposes, Universal reported total operating revenues of $396.8 million, an operating loss of $117.4 million, a net loss of $117.9 million, and a loss per basic and diluted share of $4.48 for the corresponding period last year. As previously disclosed, Universal's reported loss in the prior year included non-cash impairment charges totaling $124.4 million. Universal's operating margin was 8.3% for the quarter, compared with (29.6)% during the same period last year. Excluding the impact of prior year impairment charges, adjusted income from operations(a) for the third quarter 2025 was $7.0 million and adjusted operating margin(a) was 1.8%. The Company's adjusted EBITDA(a) for the quarter was $64.7 million, compared to adjusted EBITDA(a) of $43.3 million one year earlier. Reconciliations of the non-GAAP measures used in this release to the most directly comparable GAAP measures are included below. Universal at a Glance Universal operates a diversified portfolio of transportation and logistics businesses. The Company's largest business is Contract Logistics, which includes value-added logistics programs and dedicated transportation services, complemented by Intermodal and Trucking operations. For the third quarter of 2026, Contract Logistics represented approximately 69.0% of consolidated operating revenues, compared with approximately 13.5% from Intermodal and 17.5% from Trucking. | | Q3 Revenues (in thousand) | | | Approx. Share | Contract logistics | | $ | 271,918 | | | | 69.0 | % Intermodal | | $ | 53,076 | | | | 13.5 | % Trucking | | $ | 69,049 | | | | 17.5 | % Operating Commentary "Our third quarter results reflect solid execution across our portfolio of transportation and logistics services," stated Tim Phillips, Universal's CEO. "Our intermodal segment also made meaningful progress in its turnaround and generated positive income from operations during the quarter." Segment Results Contract Logistics Contract Logistics results reflected certain new value-added programs, increased volumes in certain existing value-added programs and dedicated transportation, partially offset by fewer programs in value-added rail services operations. Third-quarter operating revenues increased 2.8% to $271.9 million from $264.4 million in the prior-year period. The segment generated income from operations of $22.9 million, compared with $13.7 million a year earlier, and operating margin improved to 8.4% from 5.2%, primarily reflecting lower direct personnel and depreciation expense. Contract Logistics revenues included $11.8 million of separately identified fuel surcharges from dedicated transportation services, compared with $8.1 million in the prior year period. At quarter-end, Universal managed 76 active value-added programs, compared with 82 a year earlier. Intermodal Overall, Intermodal results reflect improved operating performance in the third quarter. Although revenues declined year over year, revenues increased 20.4% sequentially from the second quarter and the segment generated income from operations during the period. Third-quarter operating revenues decreased 17.9% to $53.1 million from $64.7 million in the prior-year period. Load volumes declined 45.7%, while the average operating revenue per load, excluding fuel surcharges, increased 40.4%. The segment reported income from operations of $2.7 million, compared with an operating loss of $135.1 million a year earlier, including the previously discussed $124.4 million non-cash impairment charge in the prior period. Intermodal revenues included $7.4 million of separately identified fuel surcharges and $8.5 million of detention, demurrage and storage charges, compared with $7.6 million and $9.0 million, respectively, in the prior-year period. Trucking Trucking results reflected lower load volumes, substantially offset by higher average operating revenue per load, excluding fuel surcharges. Third-quarter operating revenues were $69.0 million, compared with $67.7 million in the prior-year period. Load volumes declined 9.6%, while average operating revenue per load, excluding fuel surcharges, increased 8.7%. The segment generated income from operations of $4.4 million, compared with $3.9 million a year earlier. Operating margin was 6.3%, compared with 5.8%, reflecting an improved pricing environment. Trucking revenues included $20.1 million from brokerage services and $5.8 million of separately identified fuel surcharges, compared with $17.3 million and $3.6 million, respectively, in the prior-year period. Balance Sheet, Liquidity and Capital Structure At October 3, 2026, the Company reported Debt - net of approximately $678.1 million on its consolidated balance sheet and held $15.3 million of cash and cash equivalents. Gross outstanding borrowings were approximately $681.7 million. Of those borrowings, approximately $500.5 million consisted of Operating Debt(a), representing revolving credit facility borrowings and equipment financing, and approximately $181.2 million consisted of CTL financing. Operating Debt(a) excludes CTL financing and is presented to distinguish the Company's revolving credit facility borrowings and equipment financing from its separately financed CTL obligations. At October 3, 2026, the Company's Credit Agreement Leverage Ratio(a) was 1.98x. The maximum permitted Credit Agreement Leverage Ratio(a) at October 3, 2026 was 3.50x. The Credit Agreement Leverage Ratio(a) was calculated using Net Indebtedness(a) of approximately $497.9 million and Combined EBITDA(a) of approximately $251.8 million, each as defined in the Credit Agreement. Reconciliations of Net Indebtedness(a), Combined EBITDA(a) and the Credit Agreement Leverage Ratio(a) are included below. Capital expenditures during the quarter totaled $32.2 million. During the quarter, certain subsidiaries of the Company entered into a Fourth Amendment to the syndicated revolving credit facility. The amendment reduced aggregate revolving commitments from $500.0 million to $350.0 million, extended the commitment period from September 30, 2027 to September 30, 2029, and reset the facility's uncommitted accordion to permit the Company to request up to $150.0 million of incremental revolving commitments, subject to lender agreement and satisfaction of the conditions specified in the credit agreement. At October 3, 2026, approximately $90.1 million of revolving commitments remained unused, and the Company was in compliance with its financial covenants. CTL Financing The Company's CTL financing is a long-term, fixed-rate financing supported primarily by Ford lease payments and related project collateral. At October 3, 2026, approximately $181.2 million of CTL financing was outstanding. The CTL financing is included in Universal's consolidated debt for GAAP purposes but is excluded from Net Indebtedness for purposes of the leverage covenant under the Company's revolving credit agreement. Universal has specified recourse, indemnity and environmental obligations relating to the financing. Financial Commentary "We continued to make meaningful progress strengthening the balance sheet during the quarter. Debt – net declined by approximately $119.5 million from year-end to $678.1 million, and the extension of our revolving credit facility through September 2029 strengthens our debt-maturity profile and preserves financial flexibility. We remain focused on further debt reduction while maintaining the capacity to support our operations and strategic priorities," said Michael Rogers, Universal's Chief Financial Officer. Cash Dividend Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock. The dividend is payable to stockholders of record at the close of business on December 1, 2026 and is expected to be paid on January 6, 2027. (a) A non-GAAP measure, see accompanying non-GAAP measure explanations and reconciliations later in this release. About Universal: Universal Logistics Holdings, Inc. ("Universal") is a holding company whose subsidiaries provide a variety of customized transportation and logistics solutions throughout the United States and in Mexico and Canada. Our operating subsidiaries provide our customers with supply chain solutions that can be scaled to meet their changing demands. We offer our customers a broad array of services across their entire supply chain, including value-added, dedicated, intermodal and trucking services. In this press release, the terms "us," "we," "our," or the "Company" refer to Universal and its consolidated subsidiaries. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements identify prospective information. Forward-looking statements are statements other than statements of historical fact and include statements regarding future freight-market conditions, customer demand and pricing; the expected performance of our businesses and operating initiatives; improvement in our intermodal operations; future debt reduction and capital allocation; liquidity and borrowing capacity; the availability and use of incremental revolving commitments; our strategies and objectives; and the anticipated payment of the declared dividend. Words such as "expect," "anticipate," "intend," "plan," "goal," "prospect," "seek," "believe," "targets," "project," "estimate," "future," "likely," "may," "should" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements. Important factors that could cause actual results to differ include general economic and freight-market conditions; changes in automotive and other customer production volumes; customer demand, pricing and competitive pressures; the loss or reduction of customer business; our ability to implement operating, cost-reduction and efficiency initiatives and improve intermodal performance; labor availability and costs; fuel, equipment, insurance and claims costs; litigation and regulatory developments; the performance of customers and other counterparties, including those supporting the CTL financing; interest rates and the availability and cost of capital; our ability to comply with financial covenants and access unused or incremental revolving commitments; and the other risks described under "Risk Factors" in our most recent Annual Report on Form 10-K and in our subsequent reports filed with the Securities and Exchange Commission. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf. Forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances arising after the date of this release. UNIVERSAL LOGISTICS HOLDINGS, INC.Unaudited Condensed Consolidated Statements of Income(In thousands, except per share data) | | | Thirteen Weeks Ended | | | Thirty-nine Weeks Ended | | October 3, | | | September 27, | | October 3, | | | September 27, | | | 2026 | | | 2025 | | | 2026 | | | 2025 | Operating revenues: | | | | | | | | | | | | Truckload services | | $ | 48,947 | | | $ | 50,419 | | | $ | 127,964 | | | $ | 134,119 | Brokerage services | | | 21,133 | | | | 18,011 | | | | 57,335 | | | | 57,847 | Intermodal services | | | 52,051 | | | | 63,966 | | | | 142,774 | | | | 200,165 | Dedicated services | | | 88,842 | | | | 86,171 | | | | 261,065 | | | | 253,007 | Value-added services | | | 183,076 | | | | 178,219 | | | | 551,809 | | | | 527,832 | Total operating revenues | | | 394,049 | | | | 396,786 | | | | 1,140,947 | | | | 1,172,970 | | | | | | | | | | | | | Operating expenses: | | | | | | | | | | | | Purchased transportation and equipment rent | | | 68,165 | | | | 80,063 | | | | 195,857 | | | | 241,314 | Direct personnel and related benefits | | | 169,241 | | | | 176,572 | | | | 510,242 | | | | 509,105 | Operating supplies and expenses | | | 55,387 | | | | 55,938 | | | | 160,001 | | | | 157,608 | Commission expense | | | 4,470 | | | | 4,271 | | | | 13,123 | | | | 12,922 | Occupancy expense | | | 13,778 | | | | 13,738 | | | | 45,602 | | | | 36,794 | General and administrative | | | 14,492 | | | | 13,625 | | | | 45,580 | | | | 40,828 | Insurance and claims | | | 6,496 | | | | 8,494 | | | | 31,617 | | | | 23,057 | Depreciation and amortization | | | 31,915 | | | | 35,499 | | | | 100,742 | | | | 107,190 | (Gain) loss on disposal of property and equipment | | | (2,660) | | | | 1,585 | | | | (48,382) | | | | 1,578 | Impairment expense | | | — | | | | 124,411 | | | | 3,886 | | | | 124,411 | Total operating expenses | | | 361,284 | | | | 514,196 | | | | 1,058,268 | | | | 1,254,807 | Income (loss) from operations | | | 32,765 | | | | (117,410) | | | | 82,679 | | | | (81,837) | Interest expense, net | | | (8,744) | | | | (9,985) | | | | (29,010) | | | | (27,061) | Other non-operating income | | | — | | | | 833 | | | | 293 | | | | 1,560 | Income (loss) before income taxes | | | 24,021 | | | | (126,562) | | | | 53,962 | | | | (107,338) | Income tax expense (benefit) | | | 5,879 | | | | (8,624) | | | | 13,145 | | | | (3,730) | Net income (loss) | | $ | 18,142 | | | $ | (117,938) | | | $ | 40,817 | | | $ | (103,608) | | | | | | | | | | | | | Earnings per common share: | | | | | | | | | | | | Basic | | $ | 0.69 | | | $ | (4.48) | | | $ | 1.55 | | | $ | (3.94) | Diluted | | $ | 0.69 | | | $ | (4.48) | | | $ | 1.55 | | | $ | (3.93) | | | | | | | | | | | | | Weighted average number of common shares outstanding: | | | | | | | | | | | | Basic | | | 26,367 | | | | 26,330 | | | | 26,363 | | | | 26,327 | Diluted | | | 26,367 | | | | 26,340 | | | | 26,363 | | | | 26,341 | | | | | | | | | | | | | Dividends declared per common share: | | $ | 0.105 | | | $ | 0.105 | | | $ | 0.315 | | | $ | 0.315 | UNIVERSAL LOGISTICS HOLDINGS, INC.Unaudited Condensed Consolidated Balance Sheets(In thousands) | | | October 3, 2026 | | | December 31, 2025 | Assets | | | | | | Cash and cash equivalents | | $ | 15,280 | | | $ | 26,846 | Marketable securities | | | — | | | | 10,351 | Accounts receivable - net | | | 289,980 | | | | 261,337 | Other current assets | | | 96,576 | | | | 84,308 | Total current assets | | | 401,836 | | | | 382,842 | Property and equipment - net | | | 776,975 | | | | 819,495 | Other long-term assets - net | | | 506,304 | | | | 569,651 | Total assets | | $ | 1,685,115 | | | $ | 1,771,988 | | | | | | | Liabilities and stockholders' equity | | | | | | Current liabilities, excluding current maturities of debt | | $ | 226,300 | | | $ | 203,245 | Debt - net | | | 678,054 | | | | 797,571 | Other long-term liabilities | | | 206,046 | | | | 230,817 | Total liabilities | | | 1,110,400 | | | | 1,231,633 | Total stockholders' equity | | | 574,715 | | | | 540,355 | Total liabilities and stockholders' equity | | $ | 1,685,115 | | | $ | 1,771,988 | UNIVERSAL LOGISTICS HOLDINGS, INC.Unaudited Summary of Operating Data | | | Thirteen Weeks Ended | | | Thirty-nine Weeks Ended | | October 3, | | | September 27, | | October 3, | | | September 27, | | | 2026 | | | 2025 | | | 2026 | | | 2025 | Contract Logistics Segment: | | | | | | | | | | | | Average number of value-added direct employees | | | 6,816 | | | | 7,596 | | | | 6,957 | | | | 7,418 | Average number of value-added full-time equivalents | | | 27 | | | | 43 | | | | 39 | | | | 42 | Number of active value-added programs | | | 76 | | | | 82 | | | | 76 | | | | 82 | | | | | | | | | | | | | Intermodal Segment: | | | | | | | | | | | | Number of loads (a) | | | 55,418 | | | | 102,028 | | | | 195,539 | | | | 297,825 | Average operating revenue per load, excluding fuel surcharges (a) | | $ | 671 | | | $ | 478 | | | $ | 541 | | | $ | 519 | Average number of tractors | | | 879 | | | | 1,363 | | | | 1,012 | | | | 1,385 | Number of depots | | | 8 | | | | 8 | | | | 8 | | | | 8 | | | | | | | | | | | | | Trucking Segment: | | | | | | | | | | | | Number of loads | | | 26,881 | | | | 29,731 | | | | 79,476 | | | | 89,804 | Average operating revenue per load, excluding fuel surcharges | | $ | 2,360 | | | $ | 2,172 | | | $ | 2,112 | | | $ | 1,991 | Average number of tractors | | | 514 | | | | 594 | | | | 526 | | | | 610 | Average length of haul | | | 420 | | | | 371 | | | | 402 | | | | 377 | | (a) | Excludes operating data from freight forwarding division in order to improve the relevance of the statistical data related to our intermodal segment and improve the comparability to our peer companies. UNIVERSAL LOGISTICS HOLDINGS, INC.Unaudited Summary of Operating Data - Continued(Dollars in thousands) | | Thirteen Weeks Ended | | | Thirty-nine Weeks Ended | | October 3, | | | September 27, | | October 3, | | | September 27, | | | 2026 | | | 2025 | | | 2026 | | | 2025 | Operating Revenues by Segment: | | | | | | | | | | | | Contract logistics | | $ | 271,918 | | | $ | 264,390 | | | $ | 812,875 | | | $ | 780,839 | Intermodal | | | 53,076 | | | | 64,679 | | | | 145,007 | | | | 204,290 | Trucking | | | 69,049 | | | | 67,716 | | | | 183,059 | | | | 187,368 | Other | | | 6 | | | | 1 | | | | 6 | | | | 473 | Total | | $ | 394,049 | | | $ | 396,786 | | | $ | 1,140,947 | | | $ | 1,172,970 | | | | | | | | | | | | | Income from Operations by Segment: | | | | | | | | | | | | Contract logistics | | $ | 22,923 | | | $ | 13,720 | | | $ | 64,994 | | | $ | 59,349 | Intermodal | | | 2,652 | | | | (135,116) | | | | (20,914) | | | | (151,501) | Trucking | | | 4,375 | | | | 3,914 | | | | 7,797 | | | | 9,443 | Other | | | 2,815 | | | | 72 | | | | 30,802 | | | | 872 | Total | | $ | 32,765 | | | $ | (117,410) | | | $ | 82,679 | | | $ | (81,837) | Non-GAAP Financial Measures This press release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). These non-GAAP financial measures include adjusted income from operations, adjusted operating margin, adjusted EBITDA, Operating Debt, Net Indebtedness, Combined EBITDA and Credit Agreement Leverage Ratio. Adjusted income from operations and adjusted operating margin reflect GAAP income from operations and operating margin, respectively, adjusted for the items shown in the reconciliations below. EBITDA represents net income before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA further adjusts EBITDA for the items shown in the reconciliations below. Management uses these measures to evaluate operating performance and compare results across reporting periods. The Company believes these measures provide useful supplemental information by allowing investors to evaluate operating performance after separately identifying the effects of the specified adjustments. Operating Debt represents total outstanding borrowings excluding CTL financing. The Company presents Operating Debt to distinguish its revolving credit borrowings and equipment financing from its separately financed CTL financing. The Company also presents Net Indebtedness, Combined EBITDA and the Credit Agreement Leverage Ratio because those measures are used under the Company's revolving credit agreement to evaluate leverage and covenant compliance. These measures should not be considered in isolation or as substitutes for GAAP financial measures, and their definitions may differ from similarly titled measures used by other companies. | | October 3, 2026 | Reconciliation of Debt - net to Operating Debt(a) | | (in thousands) | Debt - net | | $ | 678,054 | Add: unamortized debt issue costs | | | 3,680 | Total outstanding borrowings | | | 681,734 | Less: CTL Financing | | | (181,202) | Operating Debt(a) | | $ | 500,532 | | | | October 3, 2026 | Reconciliation of Debt - net to Net Indebtedness(a) (in thousands): | | (in thousands) | Debt - net | | $ | 678,054 | Add: unamortized debt issue costs | | | 3,680 | Total outstanding borrowings | | $ | 681,734 | Less: CTL Financing | | | (181,202) | Less: Unrestricted Domestic Cash | | | (2,629) | Net Indebtedness(a) | | $ | 497,903 | Reconciliation of Other GAAP Measures | | Thirteen Weeks Ended | | | Thirty-nine Weeks Ended | | October 3, | | | September 27, | | October 3, | | | September 27, | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | ( in thousands, except percentages) | | | ( in thousands, except percentages) | Adjusted income from operations | | | | | | | | | | | | Income from operations | | $ | 32,765 | | | $ | (117,410) | | | $ | 82,679 | | | $ | (81,837) | (Gain) on Kearny sale | | | — | | | | — | | | | (45,274) | | | | — | Legal charges | | | — | | | | — | | | | 12,250 | | | | — | Impairment expense | | | — | | | | 124,411 | | | | 3,886 | | | | 124,411 | Adjusted income from operations(a) | | $ | 32,765 | | | $ | 7,001 | | | $ | 53,541 | | | $ | 42,574 | | | | | | | | | | | | | Operating margin | | | 8.3 | % | | | -29.6 | % | | | 7.2 | % | | | -7.0 | % Adjusted operating margin(a) | | | 8.3 | % | | | 1.8 | % | | | 4.7 | % | | | 3.6 | % Notes: Operating margin is income from operations divided by total operating revenues. Adjusted operating margin(a) is adjusted income from operations divided by total operating revenues. | | Thirteen Weeks Ended | | | Thirty-nine Weeks Ended | | | TTM | | October 3, | | | September 27, | | October 3, | | | September 27, | | | October 3, | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | 2026 | | | ( in thousands) | | | ( in thousands) | | | ( in thousands) | Adjusted EBITDA and Combined EBITDA | | | | | | | | | | | | | | | Net income | | $ | 18,142 | | | $ | (117,938) | | | $ | 40,817 | | | $ | (103,608) | | | $ | 44,552 | Income tax expense | | | 5,879 | | | | (8,624) | | | | 13,145 | | | | (3,730) | | | | 16,735 | Interest expense, net | | | 8,744 | | | | 9,985 | | | | 29,010 | | | | 27,061 | | | | 39,757 | Depreciation | | | 29,090 | | | | 32,719 | | | | 92,254 | | | | 93,304 | | | | 128,512 | Amortization | | | 2,825 | | | | 2,780 | | | | 8,488 | | | | 13,886 | | | | 11,286 | EBITDA | | | 64,680 | | | | (81,078) | | | | 183,714 | | | | 26,913 | | | | 240,842 | (Gain) on Kearny sale | | | — | | | | — | | | | (45,274) | | | | — | | | | (45,274) | Legal charges | | | — | | | | — | | | | 12,250 | | | | — | | | | 12,250 | Impairment expense | | | — | | | | 124,411 | | | | 3,886 | | | | 124,411 | | | | 3,886 | Adjusted EBITDA(a) | | $ | 64,680 | | | $ | 43,333 | | | $ | 154,576 | | | $ | 151,324 | | | $ | 211,704 | Credit Agreement adjustments | | | | | | | | | | | | | | | 40,061 | Combined EBITDA(a) | | | | | | | | | | | | | | $ | 251,765 | Notes: Combined EBITDA(a) represents trailing-twelve-month Adjusted EBITDA(a), further adjusted for additional items permitted under the Credit Agreement for purposes of determining covenant compliance, including the $45.3 million gain on Kearny sale. (a) A non-GAAP measure, see accompanying non-GAAP measure explanations and reconciliations later in this release. The Company presents these non-GAAP measures because it believes they assist investors and analysts in comparing performance across reporting periods on a consistent basis and in understanding the measures used under the Company's revolving credit agreement. These measures have limitations and should not be considered in isolation or as substitutes for GAAP measures. The Company relies primarily on GAAP results and uses these non-GAAP measures only as supplemental measures. View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-logistics-holdings-inc-reports-third-quarter-2026-financial-results-declares-dividend-302924207.html

Schneider National (SNDR) came out with quarterly earnings of $0.29 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this trucking company would post earnings of $0.22 per share when it actually produced earnings of $0.29, delivering a surprise of +31.82%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Schneider National, which belongs to the Zacks Transportation - Services industry, posted revenues of $1.59 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.09%. This compares to year-ago revenues of $1.45 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Schneider National shares have added about 12% since the beginning of the year versus the S&P 500's gain of 13.1%. While Schneider National has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Schneider National was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $1.57 billion in revenues for the coming quarter and $1.04 on $6.12 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Services is currently in the bottom 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Universal Logistics (ULH), has yet to report results for the quarter ended September 2026. This trucking and logistics company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Universal Logistics' revenues are expected to be $390.4 million, down 1.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schneider National, Inc. (SNDR) : Free Stock Analysis Report Universal Logistics Holdings, Inc. (ULH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Universal Logistics (ULH) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +115.63%. A quarter ago, it was expected that this trucking and logistics company would post earnings of $0.13 per share when it actually produced earnings of $0.16, delivering a surprise of +23.08%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Universal Truckload, which belongs to the Zacks Transportation - Services industry, posted revenues of $394.05 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.94%. This compares to year-ago revenues of $396.79 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Universal Truckload shares have added about 12.2% since the beginning of the year versus the S&P 500's gain of 13.1%. While Universal Truckload has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Universal Truckload was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.16 on $391.8 million in revenues for the coming quarter and $0.50 on $1.53 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Services is currently in the bottom 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Proficient Auto Logistics, Inc. (PAL), is yet to report results for the quarter ended September 2026. The results are expected to be released on November 12. This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has been revised 40% lower over the last 30 days to the current level. Proficient Auto Logistics, Inc.'s revenues are expected to be $157.03 million, up 37.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Universal Logistics Holdings, Inc. (ULH) : Free Stock Analysis Report Proficient Auto Logistics, Inc. (PAL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wrapping up Q2 earnings, we look at the numbers and key takeaways for the ground transportation stocks, including Universal Logistics (NASDAQ:ULH) and its peers. The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins. The 15 ground transportation stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.7%. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.3% since the latest earnings results. Founded in 1932, Universal Logistics (NASDAQ:ULH) is a provider of customized transportation and logistics solutions operating throughout the United States and in Mexico, Canada, and Colombia. Universal Logistics reported revenues of $379.3 million, down 3.7% year on year. This print was in line with analysts’ expectations, and overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates. Interestingly, the stock is up 40.8% since reporting and currently trades at $18.84. Is now the time to buy Universal Logistics? Access our full analysis of the earnings results here, it’s free. With access to millions of trucks, RXO (NYSE:RXO) offers full-truckload, less-than-truckload, and last-mile deliveries. RXO reported revenues of $1.77 billion, up 25% year on year, outperforming analysts’ expectations by 7.9%. The business had an incredible quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates. RXO pulled off the biggest analyst estimate beat and fastest revenue growth in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 9% since reporting. It currently trades at $19.11. Is now the time to buy RXO? Access our full analysis of the earnings results here, it’s free. Conducting business in over a 100 countries, Werner (NASDAQ:WERN) offers full-truckload, less-than-truckload, and intermodal delivery services. Werner reported revenues of $933.9 million, up 24% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and adjusted operating income in line with analysts’ estimates. As expected, the stock is down 6.9% since the results and currently trades at $35.66. Read our full analysis of Werner’s results here. Started with 25 trucks and 50 trailers, Covenant Logistics (NASDAQ:CVLG) is a provider of expedited long haul freight services, offering a range of logistics solutions. Covenant Logistics reported revenues of $332.9 million, up 9.9% year on year. This print surpassed analysts’ expectations by 0.8%. More broadly, it was a mixed quarter as it produced EPS in line with analysts’ estimates. The stock is down 17.1% since reporting and currently trades at $34.40. Read our full, actionable report on Covenant Logistics here, it’s free. Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ:ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight. ArcBest reported revenues of $1.18 billion, up 15.9% year on year. This result met analysts’ expectations. It was a strong quarter as it also recorded a decent beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates. The stock is down 13.1% since reporting and currently trades at $129.95. Read our full, actionable report on ArcBest here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Universal Logistics’s 21.1% return over the past six months has outpaced the S&P 500 by 8%, and its stock price has climbed to $19.59 per share. This was partly thanks to its solid quarterly results, and the performance may have investors wondering how to approach the situation. Is now the time to buy Universal Logistics, or should you be careful about including it in your portfolio? Get the full breakdown from our expert analysts, it’s free. We’re happy investors have made money, but we’re cautious about Universal Logistics. Here are three reasons you should be careful with ULH, plus one stock we’d rather own. A company’s long-term performance is an indicator of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Unfortunately, Universal Logistics struggled to consistently increase demand as its $1.53 billion of sales for the trailing 12 months was close to its revenue five years ago. This was below our standards and is a sign of poor business quality. A company’s ROIC, or return on invested capital, shows how much operating profit it makes compared to the money it has raised (debt and equity). Over the last few years, Universal Logistics’s ROIC has unfortunately decreased significantly. We like what management has done in the past, but its declining returns are perhaps a symptom of fewer profitable growth opportunities. Debt is a tool that can boost company returns but presents risks if used irresponsibly. As long-term investors, we aim to avoid companies taking excessive advantage of this instrument because it could lead to insolvency. Universal Logistics’s $692.6 million of debt exceeds the $20.31 million of cash on its balance sheet. Furthermore, its 20× net-debt-to-EBITDA ratio (based on its EBITDA of $33.7 million over the last 12 months) shows the company is overleveraged. At this level of debt, incremental borrowing becomes increasingly expensive and credit agencies could downgrade the company’s rating if profitability falls. Universal Logistics could also be backed into a corner if the market turns unexpectedly – a situation we seek to avoid as investors in high-quality companies. We hope Universal Logistics can improve its balance sheet and remain cautious until it increases its profitability or pays down its debt. Universal Logistics falls short of our quality standards. With its shares outperforming the market lately, the stock trades at 19.3× forward P/E (or $19.59 per share). This valuation multiple is fair, but we don’t have much confidence in the company. There are better investments elsewhere. We’d suggest looking at the most dominant software business in the world. ONE MORE THING: Top 6 Stocks for This Week. This market is separating quality stocks from expensive ones fast. AI is taking down whole sectors with no warning. In a rotation this fast, you need more than a list of good companies. Our AI system flagged Palantir before it ran 1,662% between October 2022 and February 2026. AppLovin before it ran 753% between February 2024 and February 2026. Nvidia before it ran 1,178% between January 2023 and February 2026. Each week it produces 6 new names that pass the same tests. Get Our Top 6 Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+214% between June 2020 and June 2025). Find your next big winner with StockStory today.

Universal Logistics (ULH) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +23.08%. A quarter ago, it was expected that this trucking and logistics company would post earnings of $0.09 per share when it actually produced a loss of $0.13, delivering a surprise of -244.44%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Universal Truckload, which belongs to the Zacks Transportation - Services industry, posted revenues of $379.32 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.28%. This compares to year-ago revenues of $393.79 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Universal Truckload shares have lost about 11.9% since the beginning of the year versus the S&P 500's gain of 8.7%. While Universal Truckload has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Universal Truckload was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.31 on $390.4 million in revenues for the coming quarter and $0.45 on $1.53 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Services is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, RXO (RXO), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This transportation services provider is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 14.3% lower over the last 30 days to the current level. RXO's revenues are expected to be $1.54 billion, up 8.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Universal Logistics Holdings, Inc. (ULH) : Free Stock Analysis Report RXO INC (RXO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Second Quarter 2026 Operating Revenues: $379.3 million Second Quarter 2026 Operating Income: $45.1 million Second Quarter 2026 GAAP Earnings Per Share: $0.99 per share Second Quarter 2026 Adjusted Earnings Per Share: $0.16 per share Declares Quarterly Dividend: $0.105 per share WARREN, Mich., July 31, 2026 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) today reported consolidated operating revenues of $379.3 million, income from operations of $45.1 million, net income of $26.2 million, and $0.99 GAAP earnings per basic and diluted share for the second quarter 2026. Universal's operating results for the second quarter 2026 include a $45.3 million gain on the sale of certain real property located in Kearny, New Jersey, a $3.9 million non-cash impairment charge related to a group of tractors that are no longer expected to be utilized in operations and $12.3 million of charges related to developments in outstanding legal matters during the period. In the aggregate, these items increased operating income by $29.1 million and are included in our other non-reportable segment. For comparative purposes, Universal reported total operating revenues of $393.8 million, income from operations of $19.9 million, net income of $8.3 million, and $0.32 earnings per basic and diluted share for the corresponding period last year. Universal's operating margin, calculated using GAAP income from operations, was 11.9% for the second quarter of 2026, compared with 5.1% during the same period last year. Excluding the gain recognized in connection with the Kearny sale, non-cash impairment charge and legal charges, the Company's adjusted income from operations in the second quarter 2026, a non-GAAP measure, was $16.0 million. As a percentage of total operating revenue, Universal's adjusted operating margin, a non-GAAP measure, for the second quarter 2026 was 4.2%, compared to an adjusted operating margin of 5.1% during the same period last year. The Company's second quarter 2026 adjusted earnings, a non-GAAP measure, was $0.16 per diluted share. The Company's adjusted EBITDA, a non-GAAP measure, during the second quarter 2026 was $49.2 million, compared to adjusted EBITDA of $56.2 million one year earlier. As a percentage of total operating revenue, Universal's adjusted EBITDA margin, a non-GAAP measure, for the second quarter 2026 was 13.0%, compared to adjusted EBITDA margin of 14.3% during the same period last year. The Company provides reconciliations of each non-GAAP financial measure used in this release to the most directly comparable financial measures calculated and presented in accordance with GAAP. These quantitative reconciliations, together with management's explanation of the purposes for which the non-GAAP measures are presented in the accompanying tables and related disclosures. "Our second quarter results reflect improved execution within our portfolio of transportation and logistics services," stated Tim Phillips, Universal's CEO. "Our contract logistics and trucking segments delivered solid results, reflecting our disciplined operating approach and commitment to providing best-in-class service. We also made meaningful progress within our intermodal segment, positioning the business to benefit from a continued recovery in freight markets. While we recognize that the recovery remains in its early stages and market conditions continue to evolve, we believe the freight cycle is moving in a favorable direction. We remain committed to executing our long-term strategy, investing in our people and operations, and creating sustainable value for our customers and stockholders." Contract Logistics Second Quarter 2026 Operating Revenues: $271.4 million Second Quarter 2026 Operating Income: $24.6 million In the contract logistics segment, which includes our value-added and dedicated services, second quarter 2026 operating revenues increased 4.2% to $271.4 million, compared to $260.6 million for the same period last year. Contract logistics segment revenues included $10.5 million in separately identified fuel surcharges from dedicated transportation services, compared to $7.3 million during the same period last year. At the end of the second quarter 2026, we managed 79 value-added programs, compared to 87 programs at the end of the second quarter 2025. Income from operations in the contract logistics segment during the second quarter 2026 was $24.6 million, compared to $21.8 million during the same period last year. As a percentage of revenue, operating margin in the contract logistics segment for the quarter was 9.1%, compared to 8.4% during the same period last year. Intermodal Second Quarter 2026 Operating Revenues: $44.1 million Second Quarter 2026 Operating (Loss): $(10.4) million Operating revenues in the intermodal segment decreased 36.0% to $44.1 million in the second quarter, compared to $68.9 million for the same period last year. The year-over-year decline reflects lower load volumes and continued softness in demand and pricing pressures. Intermodal segment revenues included $7.1 million in separately identified fuel surcharges, compared to $8.2 million during the same period last year. Intermodal segment revenues also include other accessorial charges such as detention, demurrage and storage, which totaled $5.2 million during the quarter, compared to $9.2 million one year earlier. Load volumes declined 34.0%, and the average operating revenue per load, excluding fuel surcharges, declined an additional 6.3% on a year-over-year basis. In the second quarter 2026, the intermodal segment incurred an operating loss of $(10.4) million compared to an operating loss of $(5.7) million during the same period last year. As a percentage of revenue, operating margin in the intermodal segment for the second quarter 2026 was (23.7)%, compared to (8.2)% one year earlier. Trucking Second Quarter 2026 Operating Revenues: $63.8 million Second Quarter 2026 Operating Income: $2.9 million Operating revenues in the trucking segment decreased slightly to $63.8 million, compared to $64.1 million during the same period last year. Trucking segment revenues included $18.8 million from brokerage services, compared to $18.4 million during the same period last year. Also included in our trucking segment revenues for the quarter were $5.6 million in separately identified fuel surcharges, compared to $3.4 million in fuel surcharges during the same period last year. On a year-over-year basis, load volumes declined 15.7%; however, the average operating revenue per load, excluding fuel surcharges, increased 15.5%. Income from operations in the trucking segment was to $2.9 million compared to $3.3 million during the same period last year. As a percentage of revenue, the segment's operating margin was 4.5% compared to 5.2% during the same period last year. Cash Dividend Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock. The dividend is payable to stockholders of record at the close of business on September 1, 2026 and is expected to be paid on October 1, 2026. Other Matters As of July 4, 2026, Universal held cash and cash equivalents totaling $20.3 million and had total outstanding borrowings of $695.5 million, a decrease of $59.2 million during the quarter and $106.8 million since December 31, 2025. At July 4, 2026, the Company had approximately $238.8 million available under its $500 million revolving credit facility and was in compliance with its financial covenants. Capital expenditures during the quarter totaled $67.7 million, including a $55.0 million non-cash expenditure related to the previously disclosed property exchange. Universal also reports selected non-GAAP financial measures to supplement its financial results presented in accordance with GAAP. These measures and the corresponding reconciliations to GAAP are described in more detail below in the section captioned "Non-GAAP Financial Measures." About Universal: Universal Logistics Holdings, Inc. ("Universal") is a holding company whose subsidiaries provide a variety of customized transportation and logistics solutions throughout the United States and in Mexico and Canada. Our operating subsidiaries provide our customers with supply chain solutions that can be scaled to meet their changing demands. We offer our customers a broad array of services across their entire supply chain, including value-added, dedicated, intermodal and trucking services. In this press release, the terms "us," "we," "our," or the "Company" refer to Universal and its consolidated subsidiaries. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements identify prospective information. Forward-looking statements can be identified by words such as: "expect," "anticipate," "intend," "plan," "goal," "prospect," "seek," "believe," "targets," "project," "estimate," "future," "likely," "may," "should" and similar references to future periods. Statements regarding freight-market conditions and recovery, future demand and pricing, operating initiatives and the Company's strategies and objectives are forward-looking statements. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. These risks and uncertainties include, but are not limited to, market conditions; customer demand; pricing and competitive pressures; the timing, execution, and effectiveness of cost-reduction, efficiency, or restructuring initiatives; operating costs; labor availability; and other factors affecting operating income and margins. Additional information about the factors that may adversely affect these forward-looking statements is contained in Universal's reports and filings with the Securities and Exchange Commission. Universal assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. Non-GAAP Financial Measures This press release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). These non-GAAP financial measures include adjusted income from operations, adjusted net income, adjusted earnings per diluted share, adjusted operating margin, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), and adjusted EBITDA margin. The Company believes these non-GAAP financial measures provide useful supplemental information to investors by facilitating comparisons of operating performance across periods and by excluding certain items and impairment charges that may not be indicative of our core operating results. These measures are used internally by management to analyze operating performance, develop budgets, and forecast future periods. However, these non-GAAP measures should not be considered in isolation or as a substitute for GAAP financial measures, and other companies may calculate similarly titled measures differently. Reconciliation to GAAP Measures Reconciliations of each non-GAAP measure to the most directly comparable GAAP measure are included in the accompanying tables in this press release. Set forth below is a reconciliation of income from operations, the most comparable GAAP measure, to adjusted income from operations; and of net income, the most comparable GAAP measure, to adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA for each of the periods indicated. The Company encourages investors to review these reconciliations in conjunction with our GAAP results. We present adjusted income from operations, adjusted operating margin, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA, and adjusted EBITDA margin because we believe they assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Adjusted income from operations, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA have limitations as an analytical tool. Some of these limitations are: Adjusted income from operations, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; Adjusted income from operations, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; Adjusted income from operations, adjusted net income, adjusted diluted earnings per share, and adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on our debt; Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and Other companies in our industry may calculate adjusted income from operations, adjusted net income and adjusted diluted earnings per share, and adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. Because of these limitations, adjusted income from operations, adjusted operating margin, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA and adjusted EBITDA margin should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and only supplementally on adjusted income from operations, adjusted operating margin, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA and adjusted EBITDA margin. View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-logistics-holdings-inc-reports-second-quarter-2026-financial-results-declares-dividend-302840302.html

First Quarter 2026 Operating Revenues: $367.6 million First Quarter 2026 Operating Income: $4.8 million First Quarter 2026 Earnings Per Share: $(0.13) per share Declares Quarterly Dividend: $0.105 per share WARREN, Mich., May 1, 2026 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) today reported consolidated first quarter 2026 net loss of $(3.5) million, or $(0.13) per basic and diluted share, on total operating revenues of $367.6 million. This compares to net income of $6.0 million, or $0.23 per basic and diluted share, during first quarter 2025 on total operating revenues of $382.4 million. In first quarter 2026, Universal's operating income was $4.8 million, compared to $15.7 million in the first quarter one year earlier. As a percentage of operating revenue, operating margin for first quarter 2026 was 1.3%, compared to 4.1% during the same period last year. The Company's EBITDA, a non-GAAP measure, during first quarter 2026 was $40.7 million, compared to $51.7 million one year earlier. EBITDA margin, a non-GAAP measure, for first quarter 2026 was 11.1%, compared to 13.5% during the same period last year. The Company provides reconciliations of each non-GAAP financial measure used in this release to the most directly comparable financial measures calculated and presented in accordance with GAAP. These quantitative reconciliations, together with management's explanation of the purposes for which the non-GAAP measures are used, are presented in the accompanying tables and related disclosures. "Our first-quarter performance reflects a slow start to the year driven primarily by continued weakness in our intermodal segment, including lower volumes and pricing pressure," stated Universal's CEO Tim Phillips. "Although we experienced positive momentum as the quarter progressed, the softness in the first two months proved to be a meaningful drag on our overall results for the period. While the recovery in our intermodal franchise is taking longer than anticipated, we continue to implement operational improvements and remain committed to restoring this segment to profitability. We are confident in the overall strength and resilience of Universal's business model and remain focused on executing our strategy to drive long-term, sustainable success." Segment Information: Contract Logistics First Quarter 2026 Operating Revenues: $269.5 million First Quarter 2026 Operating Income: $17.5 million In the contract logistics segment, which includes our value-added and dedicated services, first quarter 2026 operating revenues increased 5.3% to $269.5 million, compared to $255.9 million for the same period last year. Included in contract logistics segment revenues were $7.9 million in separately identified fuel surcharges from dedicated transportation services, compared to $8.6 million in the same period last year. At the end of first quarter 2026, we managed 79 value-added programs compared to a total of 87 programs at the end of first quarter 2025. Income from operations in the contract logistics segment during first quarter 2026 was $17.5 million, compared to $23.9 million during the same period last year. As a percentage of revenue, operating margin in the contract logistics segment for first quarter 2026 was 6.5%, compared to 9.3% in the prior-year period. Intermodal First Quarter 2026 Operating Revenues: $47.9 million First Quarter 2026 Operating (Loss): $(13.1) million Operating revenues in the intermodal segment decreased 32.3% to $47.9 million in first quarter 2026, compared to $70.7 million for the same period last year. The year-over-year decline reflects lower load volumes and continued softness in demand and pricing pressures. Included in intermodal segment revenues for the recently completed quarter were $5.4 million in separately identified fuel surcharges, compared to $8.2 million during the same period last year. Intermodal segment revenues also include other accessorial charges such as detention, demurrage and storage, which totaled $7.2 million during first quarter 2026, compared to $8.1 million one year earlier. Load volumes declined 23.3%, and the average operating revenue per load, excluding fuel surcharges, declined an additional 10.4% on a year-over-year basis. In first quarter 2026, the intermodal segment experienced an operating loss of $(13.1) million compared to $(10.7) million one year earlier. As a percentage of revenue, operating margin in the intermodal segment for first quarter 2026 was (27.4)%, compared to (15.1)% one year earlier. Trucking First Quarter 2026 Operating Revenues: $50.2 million First Quarter 2026 Operating Income: $0.6 million In the trucking segment, first quarter 2026 operating revenues decreased 9.7% to $50.2 million, compared to $55.6 million for the same period last year. First quarter 2026 trucking segment revenues included $16.2 million of brokerage services, compared to $18.0 million during the same period last year. Also included in our trucking segment revenues were $3.6 million in separately identified fuel surcharges during first quarter 2026, compared to $3.5 million in fuel surcharges during the same period last year. On a year-over-year basis, load volumes declined 8.9% and the average operating revenue per load, excluding fuel surcharges, declined an additional 6.0%. Income from operations in first quarter 2026 was $0.6 million compared to $2.2 million during the same period last year. As a percentage of revenue, operating margin in the trucking segment for first quarter 2026 was 1.1% compared to 3.9% during the same period last year. Cash Dividend Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock. The dividend is payable to stockholders of record at the close of business on June 1, 2026 and is expected to be paid on July 1, 2026. Other Matters As of April 4, 2026, Universal held cash and cash equivalents totaling $17.9 million. Outstanding debt at the end of first quarter 2026 was $754.7 million and capital expenditures totaled $9.6 million. Universal calculates and reports certain financial metrics, in addition to those prepared in accordance with GAAP, for purposes of its lending arrangements and to assist management in evaluating operating performance by isolating and excluding the impact of certain non-operating expenses associated with corporate development activities. These measures, which are not intended to be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. are described in more detail below in the section captioned "Non-GAAP Financial Measures." About Universal: Universal Logistics Holdings, Inc. ("Universal") is a holding company whose subsidiaries provide a variety of customized transportation and logistics solutions throughout the United States and in Mexico and Canada. Our operating subsidiaries provide our customers with supply chain solutions that can be scaled to meet their changing demands. We offer our customers a broad array of services across their entire supply chain, including value-added, dedicated, intermodal and trucking services. In this press release, the terms "us," "we," "our," or the "Company" refer to Universal and its consolidated subsidiaries. Forward Looking Statements Some of the statements contained in this press release might be considered forward-looking statements. These statements identify prospective information. Forward-looking statements can be identified by words such as: "expect," "anticipate," "intend," "plan," "goal," "prospect," "seek," "believe," "targets," "project," "estimate," "future," "likely," "may," "should" and similar references to future periods. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. These risks and uncertainties include, but are not limited to, market conditions; customer demand; pricing and competitive pressures; the timing, execution, and effectiveness of cost-reduction, efficiency, or restructuring initiatives; operating costs; labor availability; and other factors affecting operating income and margins. Additional information about the factors that may adversely affect these forward-looking statements is contained in Universal's reports and filings with the Securities and Exchange Commission. Universal assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. Non-GAAP Financial Measures In addition to providing consolidated financial statements based on generally accepted accounting principles in the United States of America (GAAP), we are providing additional financial measures that are not required by or prepared in accordance with GAAP (non-GAAP). We present EBITDA and EBITDA margin, each a non-GAAP measure, as supplemental measures of our performance. We define EBITDA as net income (loss) plus (i) interest expense, net, (ii) income taxes, (iii) depreciation, and (iv) amortization. We define EBITDA margin as EBITDA as a percentage of total operating revenues. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, we are presenting the most directly comparable GAAP financial measure and reconciling the non-GAAP financial measure to the comparable GAAP measure. Set forth below is a reconciliation of net income, the most comparable GAAP measure, to EBITDA for each of the periods indicated: We present EBITDA and EBITDA margin because we believe they assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. EBITDA has limitations as an analytical tool. Some of these limitations are: EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; EBITDA does not reflect changes in, or cash requirements for, our working capital needs; EBITDA does not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on our debts; Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA does not reflect any cash requirements for such replacements; and Other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure. Because of these limitations, EBITDA and EBITDA margin should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and only supplementally on EBITDA and EBITDA margin. View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-logistics-holdings-inc-reports-first-quarter-2026-financial-results-declares-dividend-302760364.html

The market expects TFI International Inc. (TFII) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 27. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of -22.4%. Revenues are expected to be $1.89 billion, down 3.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.85% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For TFI International, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.34%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that TFI International will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that TFI International would post earnings of $0.85 per share when it actually produced earnings of $1.09, delivering a surprise of +28.24%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. TFI International doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Universal Logistics (ULH), another stock in the Zacks Transportation - Services industry, is expected to report earnings per share of $0.09 for the quarter ended March 2026. This estimate points to a year-over-year change of -60.9%. Revenues for the quarter are expected to be $372.3 million, down 2.6% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Universal Truckload has been revised 4% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate. When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP makes it difficult to conclusively predict that Universal Truckload will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TFI International Inc. (TFII) : Free Stock Analysis Report Universal Logistics Holdings, Inc. (ULH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research