NASDAQ$ULH

Universal Logistics Holdings Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported consolidated net income on total operating revenues, with operating income affected by a legal charge.

Universal Logistics Holdings reported a decrease in both net income and operating revenues for Q4 2019 compared to Q4 2018. Net income was $8.7 million, or $0.32 per share, on total operating revenues of $375.9 million. The operating income was $15.5 million, which included a $2.9 million legal charge. EBITDA, a non-GAAP measure, increased to $37.7 million.

  • Total operating revenues decreased by 2.7% to $375.9 million.
  • Net income was $8.7 million, or $0.32 per share, compared to $9.0 million, or $0.32 per share in Q4 2018.
  • Operating income was $15.5 million, including a $2.9 million legal charge.
  • EBITDA increased to $37.7 million from $31.4 million in the same period last year.

Headline financials

Total Revenue

$376M

Previous: $386M-2.7%
EPS (adj)

$0.39

Previous: $0.51-23.5%
EBITDA

$37.7M

Previous: $31.4M+20.2%
EBITDA Margin

10.0%

Previous: 8.1%+23.5%
Avg. Operating Revenue/Load (Intermodal)

$534.00

Previous: $514.00+3.9%
Number of Loads (Intermodal)

186.6K

Previous: 143.8K+29.8%
Avg. Operating Revenue/Load (Truckload)

$990.00

Previous: $1.01K-2.4%
Number of Loads (Truckload)

54.8K

Previous: 66.8K-18.0%
Capital Expenditures

$19M

Previous: $12.4M+53.5%
Free Cash Flow

-$22.9M

Previous: $8.62M-366.1%
Net Income

$8.7M

Previous: $9.02M-3.5%
Operating Income

$15.5M

Previous: $17.9M-13.4%
Gross Profit

$43.4M

Previous: $47.5M-8.5%
Cash & Equivalents

$7.7M

Previous: $5.73M+34.5%
Total Assets

$995M

Previous: $843M+18.1%

Revenue & EPS history

Universal Logistics · Revenue · Quarterly

$376M

Q4 2019-2.7%vs Q4 2018
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Universal Logistics · $171M total across 2 segments · Q4 2019

  • Intermodal
    $112M+33.8%
  • Trucking
    $58.4M-20.8%

Forward guidance

Universal expects to report 2020 total operating revenues in the range of $1.6 billion to $1.7 billion, and operating margins in the 7% to 9% range. Capital expenditures are expected to be in the range of $70 million to $80 million, and total interest expense for the year is expected to be between $16 million to $18 million.

Tailwinds

  • Expects to report 2020 total operating revenues in the range of $1.6 billion to $1.7 billion.
  • Operating margins are expected to be in the 7% to 9% range.
  • Capital expenditures are expected to be in the range of $70 million to $80 million.
  • Total interest expense for the year is expected to be between $16 million to $18 million.

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 Q4 2019

Historical avgQ4 2019

+0.4%

Avg return

Earnings day

-0.4%

Avg return

5 days after

+2.6%

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%
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 2011+4.0%
Q2 2010+4.0%
Q4 2010+4.0%
Q1 2010+7.6%

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