Universal Logistics Posts Q1 Loss, Intermodal Slumps

Universal Logistics faces a challenging first quarter, reporting a loss of $3.5 million compared to last years $6 million profit. Revenue dropped to $367.6 million from $382.4 million, primarily due to a significant slump in intermodal business. Intermodal revenue plummeted 32.3% to $47.9 million, with volumes down 23.3% and prices falling over 10%. Despite market weakness, contract logistics showed resilience with 5.3% revenue growth. However, trucking revenue declined 9.7%, impacting overall margins. Operating income fell to $4.8 million with margins at 1.3%, and EBITDA dropped to $40.7 million from $51.7 million last year. Despite ending with $17.9 million in cash against $754.7 million in debt, they still paid a $0.105 dividend. The company anticipates recovery in intermodal, with operational adjustments and a stable contract side providing some relief. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a53fb59ad85415de