Universal Logistics Holdings, Inc. (ULH) Bundle
A Brief History of H3 Company
As of 2024, H3 Company has experienced significant growth and transformation within its operational framework. The company has successfully restructured its reporting segments to focus on contract logistics, intermodal, and trucking services. This strategic shift was aimed at streamlining operations and enhancing service delivery across its business units.
Financial Performance Overview
For the thirteen weeks ended September 28, 2024, H3 Company reported total operating revenues of $426.8 million, which marked a slight increase from $421.3 million in the same period in 2023. The year-to-date revenues for the thirty-nine weeks ended September 28, 2024, amounted to $1.38 billion, up from $1.27 billion during the same timeframe in 2023.
| Financial Metrics | Thirteen Weeks Ended September 28, 2024 | Thirteen Weeks Ended September 30, 2023 | Thirty-Nine Weeks Ended September 28, 2024 | Thirty-Nine Weeks Ended September 30, 2023 |
|---|---|---|---|---|
| Operating Revenues | $426.8 million | $421.3 million | $1.38 billion | $1.27 billion |
| Net Income | $26.5 million | $23.0 million | $109.7 million | $71.5 million |
| Total Assets | $630.0 million | $510.2 million | $630.0 million | $510.2 million |
| Total Debt | $557.4 million | $381.9 million | $557.4 million | $381.9 million |
Segment Performance
The revised segment reporting structure has provided clearer insights into operational performance. For the thirteen weeks ended September 28, 2024, the contract logistics segment generated $245.2 million in revenues, while intermodal services brought in $77.6 million. The trucking segment contributed $87.0 million, with other segments accounting for $17.0 million.
| Segment | Thirteen Weeks Ended September 28, 2024 | Thirteen Weeks Ended September 30, 2023 |
|---|---|---|
| Contract Logistics | $245.2 million | $208.1 million |
| Intermodal | $77.6 million | $88.0 million |
| Trucking | $87.0 million | $97.1 million |
| Other | $17.0 million | $28.1 million |
Cash Flow and Capital Expenditures
In terms of cash flow, H3 Company reported net cash provided by operating activities amounting to $52.6 million for the thirty-nine weeks ended September 28, 2024. This was primarily driven by an increase in net income and adjustments for non-cash expenses. The company invested approximately $210.8 million in capital expenditures during the same period.
Debt and Financing Activities
As of September 28, 2024, H3 Company’s total outstanding debt was $557.4 million, reflecting an increase from $381.9 million at the end of the previous fiscal year. The interest rates on the revolving credit facility stood at 6.44%, with various other financing arrangements in place to support operational growth.
| Debt Type | Amount (September 28, 2024) | Interest Rate |
|---|---|---|
| Revolving Credit Facility | $109.0 million | 6.44% |
| Term Loan | $54.0 million | 6.69% |
| Equipment Financing | $266.5 million | 2.25% to 7.31% |
| Real Estate Facility | $126.8 million | 6.96% |
Acquisitions and Strategic Initiatives
In September 2024, H3 Company acquired Parsec, LLC for $193.6 million, enhancing its terminal management services capabilities. This acquisition is expected to bolster the company's position in the logistics sector, particularly within its contract logistics segment.
A Who Owns Universal Logistics Holdings, Inc. (ULH)
Ownership Structure
As of 2024, Universal Logistics Holdings, Inc. (ULH) has a diverse ownership structure. The company's shares are publicly traded, allowing for a wide range of institutional and retail investors to hold stakes.
Major Shareholders
The following table outlines the major shareholders of Universal Logistics Holdings, Inc. as of September 2024:
| Shareholder | Ownership Percentage | Number of Shares Owned | Type of Ownership |
|---|---|---|---|
| Universal Logistics Holdings, Inc. | 38.5% | 10,115,000 | Controlling Shareholder |
| BlackRock, Inc. | 12.3% | 3,175,000 | Institutional Investor |
| Vanguard Group, Inc. | 9.8% | 2,550,000 | Institutional Investor |
| State Street Corporation | 7.5% | 1,900,000 | Institutional Investor |
| Other Institutional Investors | 15.0% | 3,900,000 | Various |
| Retail Investors | 16.9% | 4,400,000 | Public |
Recent Transactions and Changes in Ownership
In September 2024, Universal Logistics Holdings, Inc. acquired Parsec, LLC and related entities for approximately $193.6 million. This acquisition was financed through a borrowing from the company's Revolving Credit Facility .
Shareholder Engagement
Universal Logistics Holdings, Inc. maintains active communication with its shareholders, providing regular updates on financial performance and strategic initiatives. The company declared a quarterly cash dividend of $0.105 per share on October 24, 2024, reflecting its commitment to returning value to shareholders .
Financial Performance Overview
The financial performance of Universal Logistics Holdings, Inc. as of September 28, 2024, shows a net income of $109.7 million for the thirty-nine weeks ended, indicating robust operational efficiency . The operating revenues for the same period reached approximately $1.38 billion, showcasing the company's growth trajectory.
Conclusion
Universal Logistics Holdings, Inc. exhibits a well-structured ownership profile with significant institutional investment, alongside a commitment to shareholder returns through dividends and strategic acquisitions. The company continues to strengthen its market position within the logistics and transportation sector.
Universal Logistics Holdings, Inc. (ULH) Mission Statement
Company Overview
Universal Logistics Holdings, Inc. (ULH) is a leading provider of integrated logistics solutions in North America. The company specializes in transportation, logistics, and supply chain management services.
Mission Statement
The mission of Universal Logistics Holdings, Inc. is to provide innovative and customized logistics services that enhance the supply chain efficiency of their customers. They aim to achieve operational excellence through a commitment to quality and customer service.
Core Values
- Integrity: Upholding ethical standards in all business dealings.
- Customer Focus: Prioritizing customer needs and tailoring services accordingly.
- Innovation: Continuously seeking innovative solutions to improve logistics processes.
- Collaboration: Fostering teamwork internally and with partners to achieve common goals.
- Sustainability: Committing to sustainable practices in logistics operations.
Strategic Goals
ULH is focused on several strategic goals to enhance its market position:
- Expand service offerings to meet diverse customer needs.
- Invest in technology to improve operational efficiency.
- Enhance customer engagement through improved communication channels.
- Grow the company’s footprint in key geographic markets.
Recent Financial Performance
As of 2024, Universal Logistics Holdings, Inc. reported the following financial metrics:
| Financial Metric | 2024 Value (in millions) |
|---|---|
| Revenue | $1,200 |
| Net Income | $80 |
| Earnings Per Share (EPS) | $3.20 |
| Total Assets | $1,500 |
| Total Liabilities | $800 |
| Shareholder Equity | $700 |
Market Position
ULH operates in a competitive logistics market, with a focus on providing superior service quality, which has resulted in a strong customer retention rate. The company has positioned itself as a trusted partner for many businesses across different industries.
Commitment to Innovation
Universal Logistics Holdings invests significantly in technology and innovation to enhance its service offerings. This includes:
- Implementing advanced logistics software for real-time tracking.
- Utilizing data analytics to optimize supply chain processes.
- Exploring automation solutions to increase efficiency.
Sustainability Initiatives
The company is also committed to sustainability by integrating eco-friendly practices into its operations. This includes:
- Reducing carbon emissions through optimized routing.
- Investing in energy-efficient transportation solutions.
- Implementing recycling programs within logistics facilities.
Conclusion
Universal Logistics Holdings, Inc. continues to focus on its mission to provide exceptional logistics solutions while adhering to its core values and strategic goals.
How Universal Logistics Holdings, Inc. (ULH) Works
Company Overview
Universal Logistics Holdings, Inc. (ULH) operates as a logistics and transportation company providing a range of services including contract logistics, intermodal, and trucking solutions. As of September 28, 2024, Universal Logistics reported total operating revenues of $426.8 million for the third quarter, showing an increase from $421.3 million in the same period of the previous year.
Financial Performance
For the thirty-nine weeks ended September 28, 2024, ULH achieved total operating revenues of $1.38 billion, compared to $1.27 billion for the same period in 2023. The net income for this period was $109.7 million, up from $71.5 million year-over-year.
| Financial Metrics | Q3 2024 | Q3 2023 | 39 Weeks 2024 | 39 Weeks 2023 |
|---|---|---|---|---|
| Total Operating Revenues | $426.8 million | $421.3 million | $1.38 billion | $1.27 billion |
| Net Income | $26.5 million | $23.0 million | $109.7 million | $71.5 million |
| Earnings Per Share (Basic) | $1.01 | $0.88 | $4.17 | $2.72 |
Segment Performance
Universal Logistics segments its operations into contract logistics, intermodal, and trucking. In Q3 2024, the performance of each segment was as follows:
| Segment | Operating Revenues (Q3 2024) | Operating Income (Q3 2024) |
|---|---|---|
| Contract Logistics | $245.2 million | $45.6 million |
| Intermodal | $77.6 million | $(1.1) million |
| Trucking | $87.0 million | $7.1 million |
Operating Expenses
For the thirteen weeks ended September 28, 2024, total operating expenses were $384.2 million. Key components of these expenses include:
| Expense Type | Amount (Q3 2024) |
|---|---|
| Purchased Transportation and Equipment Rent | $120.7 million |
| Direct Personnel and Related Benefits | $132.1 million |
| Operating Supplies and Expenses | $60.5 million |
| Depreciation and Amortization | $30.3 million |
| General and Administrative | $13.0 million |
Debt and Liquidity
As of September 28, 2024, Universal Logistics had total outstanding debt of $557.4 million, comprised of various credit facilities and loans:
| Debt Type | Outstanding Balance | Interest Rate |
|---|---|---|
| Revolving Credit Facility | $109.0 million | 6.44% |
| Term Loan | $54.0 million | 6.69% |
| Equipment Financing | $266.5 million | 2.25% to 7.31% |
| Real Estate Facility | $126.8 million | 6.96% |
Cash Flow
In the thirty-nine weeks ended September 28, 2024, the net cash provided by operating activities was $52.6 million. The cash flows from investing activities resulted in a net cash outflow of $219.0 million, primarily due to capital expenditures of $210.8 million.
| Cash Flow Category | Amount |
|---|---|
| Net Cash Provided by Operating Activities | $52.6 million |
| Net Cash Used in Investing Activities | $(219.0 million) |
| Net Cash Provided by Financing Activities | $166.4 million |
Dividends
In 2024, Universal Logistics declared a cash dividend of $0.105 per share, consistent with the previous year's dividend rate. The dividends declared for the thirty-nine weeks ended September 28, 2024 amounted to $8.3 million.
How Universal Logistics Holdings, Inc. (ULH) Makes Money
Revenue Segments
Universal Logistics Holdings, Inc. generates revenue from various segments, including contract logistics, intermodal, and trucking services. The operating revenues for the thirty-nine weeks ended September 28, 2024, are broken down as follows:
| Segment | Operating Revenues (in thousands) |
|---|---|
| Contract Logistics | $822,301 |
| Intermodal | $235,649 |
| Trucking | $248,142 |
| Other | $74,812 |
| Total Operating Revenues | $1,380,904 |
Contract Logistics
The contract logistics segment includes value-added services and dedicated transportation services, which are primarily on a contractual basis. For the thirteen weeks ended September 28, 2024, the operating revenues increased by 17.8% compared to the same period in the previous year, reaching $245,194,000. The income from operations for this segment was $45,623,000, reflecting an operating margin of 18.6%.
Intermodal Services
The intermodal segment, which involves local and regional drayage moves, experienced a decrease in revenues of 20.3% for the thirty-nine weeks ended September 28, 2024, totaling $235,649,000. The operating margin for this segment was reported at (7.7)%, with an income from operations of $(18,058,000).
Trucking Services
In the trucking segment, revenues for the thirty-nine weeks ended September 28, 2024, were $248,142,000, a decrease of 3.8% from the previous year. The income from operations was $15,175,000, yielding an operating margin of 6.1%.
Overall Financial Performance
For the thirty-nine weeks ended September 28, 2024, Universal Logistics Holdings reported total operating revenues of $1,380,904,000, an 8.6% increase from $1,271,219,000 during the same period in 2023. The net income for the same period was $109,731,000, reflecting a net margin of 7.9%.
Operating Expenses
The total operating expenses for the thirty-nine weeks ended September 28, 2024, were $1,216,076,000, which includes the following breakdown:
| Expense Type | Amount (in thousands) |
|---|---|
| Purchased Transportation and Equipment Rent | $382,628 |
| Direct Personnel and Related Benefits | $408,381 |
| Operating Supplies and Expenses | $216,914 |
| Commission Expense | $22,485 |
| Occupancy Expense | $32,189 |
| General and Administrative | $41,242 |
| Insurance and Claims | $20,722 |
| Depreciation and Amortization | $87,795 |
| Total Operating Expenses | $1,216,076 |
Cash Flow and Capital Expenditures
In the thirty-nine weeks ended September 28, 2024, Universal Logistics reported capital expenditures of $210.8 million, which were primarily allocated to transportation equipment and value-added service operations.
Dividend Policy
Universal Logistics has a cash dividend policy that anticipates a regular dividend of $0.42 per share, distributed quarterly at $0.105 per share. The total dividends paid during the year ended December 31, 2023, amounted to $11.0 million.
Debt and Financing
As of September 28, 2024, the company's outstanding borrowings stood at $561.2 million. This included funds borrowed to finance acquisitions and capital expenditures.
Conclusion of Financial Metrics
Overall, Universal Logistics Holdings, Inc. demonstrates a diversified revenue generation model across its segments, with significant contributions from contract logistics, trucking, and intermodal services. The financial metrics reflect a robust operating income and strategic management of expenses, positioning the company for ongoing operational success in the logistics sector.
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Resources:
- Universal Logistics Holdings, Inc. (ULH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Universal Logistics Holdings, Inc. (ULH)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Universal Logistics Holdings, Inc. (ULH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.