NASDAQ$ULH

Universal Logistics Holdings Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported all-time record quarterly results with revenue, operating income, and earnings per share reaching record highs.

Universal Logistics Holdings reported record-breaking first-quarter results for 2022, with significant increases in operating revenues, operating income, and earnings per share. The company's success was attributed to efforts in evaluating operating cost structures, negotiating rate increases, and rationalizing underperforming business segments.

  • Achieved record all-time highs for total operating revenues, operating income, and earnings per share.
  • Operating revenues increased by 26.2% to $523.9 million compared to the same period last year.
  • Operating income increased by 85.7% to $57.8 million, with an operating margin of 11.0%.
  • Earnings per share rose by 95.0% to $1.56 per share compared to the first quarter of 2021.

Headline financials

Total Revenue

$524M

Previous: $415M+26.2%
EPS (adj)

$1.56

Previous: $0.80+95.0%
EBITDA

$75M

Previous: $51.2M+46.4%
EBITDA Margin

14.3%

Previous: 12.3%+16.3%
Capital Expenditures

-$6.05M

Previous: -$4.94M-22.4%
Free Cash Flow

$36M

Previous: $16.7M+115.1%
Net Income

$42M

Previous: $21.7M+94.0%
Operating Income

$57.8M

Previous: $31.2M+85.7%
Gross Profit

$110K

Previous: $784K-86.0%
Cash & Equivalents

$14.9M

Previous: $10.8M+38.2%
Total Assets

$1.19B

Previous: $1.05B+12.8%
Stock-Based Comp

$162K

Previous: $162K+0.0%

Revenue & EPS history

Universal Logistics · Revenue · Quarterly

$524M

Q1 2022+26.2%vs Q1 2021
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Universal Logistics · $204M total across 2 segments · Q1 2022

  • Contract Logistics
    $202M+30.2%
  • Other
    $1.96M+218.8%

Forward guidance

The company anticipates additional execution improvement opportunities as the year unfolds and aims to surpass the goals set for the year, including $2.0 billion in top-line revenue for 2022.

Tailwinds

  • Efforts evaluating operating cost structures
  • Negotiating rate increases with customers
  • Continued rationalization of underperforming business across service lines
  • Experienced its highest operating revenues
  • Largest operating income, and best earnings per share

Headwinds

  • Supply chain disruptions
  • A competitive market for equipment and talent
  • Recent intermittent shut-downs of our customers’ operations
  • Seeking to secure parts to build cars and trucks
  • Challenges facing our industry today

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.4%

Avg return

Earnings day

-0.4%

Avg return

5 days after

+3.5%

Avg return

30 days after

61%

40 / 66 earnings

Positive

+36.4%

Q1 2024

Best reaction

-23.3%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+8.3%+6.8%+39.5%
Q4 2025-3.7%+16.0%+50.8%
Q3 2025-2.8%-12.4%-29.2%
Q2 2025+10.0%-13.6%-0.9%
Q1 2025-4.8%-18.9%-14.1%
Q4 2024-19.6%-33.3%-34.9%
Q3 2024-8.7%-2.9%+19.0%
Q2 2024-2.6%-5.4%-4.9%
Q1 2024+36.4%+32.9%+36.0%
Q4 2023+5.1%+0.9%+8.3%
Q3 2023-7.2%-2.0%+11.0%
Q2 2023-3.8%-1.2%-14.1%
Q1 2023-2.0%-0.6%+5.1%
Q4 2022-23.3%-27.1%-30.7%
Q3 2022-8.2%-3.8%+2.3%
Q2 2022+4.4%+17.9%+30.6%
Q1 2022+6.4%+4.1%+31.2%
Q4 2021+7.3%+7.6%+21.1%
Q3 2021-2.0%-2.8%-9.8%
Q2 2021+3.3%+0.3%-0.5%
Q1 2021+4.2%+4.2%+4.2%
Q4 2020+6.2%+5.0%+15.6%
Q3 2020-1.5%+8.8%+9.4%
Q2 2020+1.5%+1.0%+20.6%
Q1 2020-3.9%-11.3%+0.9%
Q4 2019+7.7%+6.9%-13.1%
Q3 2019-20.8%-26.1%-22.1%
Q2 2019-7.1%-8.9%-15.3%
Q1 2019+1.4%+8.7%-10.8%
Q4 2018-4.3%-5.3%-22.2%
Q3 2018-4.7%-8.7%-18.9%
Q2 2018+8.9%+22.3%+33.2%
Q1 2018+1.1%+0.2%+11.8%
Q4 2017+4.3%+3.4%-3.8%
Q3 2017+0.9%+1.2%+8.0%
Q2 2017-2.1%+3.5%+5.9%
Q1 2017+5.3%+10.2%-0.4%
Q4 2016+4.5%+1.5%-5.2%
Q3 2016+13.8%+5.7%+33.0%
Q2 2016-2.2%-2.7%-5.0%
Q1 2016-0.8%
Q4 2015-1.2%
Q3 2015+2.5%
Q2 2015-3.0%
Q1 2015+0.5%
Q4 2014+0.7%
Q3 2014+0.6%
Q2 2014+0.3%
Q1 2014+2.7%
Q4 2013+2.4%
Q1 2011+2.4%
Q3 2013+0.8%
Q2 2013+1.1%
Q1 2013+0.6%
Q4 2009+6.5%
Q4 2012+6.5%
Q3 2012-10.2%
Q2 2012+0.3%
Q1 2012+4.8%
Q4 2011+0.6%
Q3 2010-8.4%
Q3 2011-8.4%
Q2 2010+4.0%
Q2 2011+4.0%
Q4 2010+4.0%
Q1 2010+7.6%

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