UNIVERSAL LOGISTICS HOLDINGS, INC.

Listed Company

ULHCIK 0001308208NasdaqAcceleratedSmaller ReportingTrucking (No Local)NevadaFY ends Dec 31

Period

FY 2025

Revenue

$1.56B

Net Income

$-99.87M

Total Assets

$1.77B

Equity

$540.36M

Shares Out

26.35M

Op. Cash Flow

$183.05M

Business

UNIVERSAL LOGISTICS HOLDINGS, INC. provides customized transportation and logistics solutions through its subsidiaries across North America and Colombia. The company offers truckload, intermodal, dedicated and value-added services including material handling, sequencing, kitting, warehousing, drayage, dry van, flatbed, heavy-haul and refrigerated transportation, and terminal management. Operations are organized into three reportable segments—Contract Logistics, Intermodal, and Trucking—with additional non-reportable legacy brokerage and support service activities. Services are delivered via company-managed terminals, a network of independent agents and owner-operators, and integrated software platforms for customer and carrier connectivity.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	1,558	1,846	1,662	2,015	1,751
Purchased transportation and equipment rent, including related party amounts of $18, $147 and $316, respectively	310	483	571	847	825
Direct personnel and related benefits, including related party amounts of $75,224, $63,143 and $54,169, respectively	686	583	543	520	454
Operating supplies and expenses, including related party amounts of $9,060, $19,248 and $9,221, respectively	205	294	173	177	149
Commission expense	17	27	31	40	34
Occupancy expense, including related party amounts of $17,938, $14,174 and $13,649, respectively	49	44	44	41	37
General and administrative, including related party amounts of $11,276, $12,280 and $12,396, respectively	54	57	50	49	42
Insurance and claims, including related party amounts of $16,898, $17,855 and $16,739, respectively	30	26	27	23	39
Depreciation and amortization	146	124	77	77	68
Impairment expense	124	4	0	0	—
Total operating expenses	1,623	1,643	1,517	1,775	1,648
Income (loss) from operations	−64	203	145	240	103
Interest income	11	4	1	132,000	43,000
Interest expense	−49	−34	−24	−16	−12
Other non-operating income	2	837,000	2	1	7
Income (loss) before income taxes	−100	174	124	225	99
Income tax expense (benefit)	−139,000	44	31	57	25
Net Income (Loss)	−100	130	93	169	74
Basic (per share)	−3.79	4.94	3.53	6.37	2.74
Diluted (per share)	−3.79	4.93	3.53	6.37	2.74
Basic (shares)	26	26	26	26	27
Diluted (shares)	26	26	26	26	27
Dividends declared per common share	0.42	0.42	0.42	0.42	0.42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	27	19	13	47	14
Marketable securities	10	12	11	10	8
Accounts receivable - net of allowance for credit losses of $3,908 and $7,806, respectively	261	294	288	351	341
Contract receivable	29	29	—	—	—
Other receivables	28	30	23	25	—
Prepaid expenses and other	26	25	30	26	30
Total current assets	383	410	365	460	421
Property and equipment, net	819	742	561	391	346
Operating lease right-of-use asset	169	74	87	100	106
Goodwill	106	207	171	171	171
Intangible assets - net of accumulated amortization of $80,304 and $155,290, respectively	109	151	61	74	88
Contract receivable, net of current portion	183	198	0	—	—
Deferred income taxes	1	329,000	1	1	2
Other assets	2	5	7	7	4
Total assets	1,772	1,787	1,254	1,204	1,137
Accounts payable	61	60	64	87	118
Current portion of long-term debt	115	89	71	65	61
Current portion of operating lease liabilities	29	29	30	28	25
Accrued expenses and other current liabilities	59	71	43	43	44
Insurance and claims	28	33	25	31	43
Due to affiliates	17	23	21	21	—
Income taxes payable	8	377,000	6	12	4
Total current liabilities	318	305	260	287	313
Long-term debt, net of current portion	683	670	311	313	366
Operating lease liability, net of current portion	144	51	64	78	86
Deferred income taxes	82	109	80	70	61
Other long-term liabilities	4	5	6	9	9
Total long-term liabilities	914	835	461	470	523
Common stock, no par value. Authorized 100,000,000 shares; 26,336,137 and 26,319,754 shares issued; 26,330,058 and 26,317,326 shares outstanding, respectively	26	26	31	31	31
Paid-in capital	5	5	5	5	5
Treasury stock, at cost; 6,079 and 2,428 shares	−192,000	−107,000	−97	−97	−82
Retained earnings	512	623	595	514	356
Interest rate swaps, net of income taxes of $96 and $412, respectively	245,000	1	1	2	−178,000
Foreign currency translation adjustments	−4	−8	−4	−8	−7
Total stockholders' equity	540	647	532	447	302
Total liabilities and stockholders' equity	1,772	1,787	1,254	1,204	1,137

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Noncash lease expense	30	31	30	29	26
Amortization of debt issuance costs	1	964,000	808,000	545,000	480,000
Gain on marketable equity securities	−2	−838,000	−1	−1	−2
Loss (gain) on disposal of property and equipment	4,000	2	−2	−5	−1
Write-off of debt issuance costs	243,000	0	0	583,000	0
Stock-based compensation	457,000	779,000	262,000	222,000	162,000
Provision for credit losses	249,000	−353,000	4	10	6
Deferred income taxes	−27	30	10	8	−3
Trade and other accounts receivable	33	36	63	−16	−93
Contract receivable, prepaid expenses and other assets	18	−218	−2	5	−7
Principal reduction in operating lease liabilities	−31	−32	−31	−28	−25
Accounts payable, accrued expenses, income taxes payable, insurance and claims and other current liabilities	−4	4	−30	−38	37
Due to/from affiliates, net	−6	2	376,000	3	1
Other long-term liabilities	−1	−1	−3	316,000	2
Net cash provided by operating activities	183	112	210	213	83
Capital expenditures	−224	−252	−241	−117	−39
Proceeds from the sale of property and equipment	18	4	4	14	6
Proceeds from sale of marketable securities	3	19,000	269,000	0	117,000
Acquisition of businesses, net of cash	0	−216	0	—	—
Net cash used in investing activities	−203	−463	−237	−104	−33
Proceeds from borrowing - revolving debt	561	676	202	444	408
Repayments of debt - revolving debt	−654	−387	−180	−607	−397
Proceeds from borrowing - term debt	281	191	56	340	16
Repayments of debt - term debt	−148	−104	−75	−222	−61
Dividends paid	−11	−11	−11	−14	−11
Purchases of treasury stock	−85,000	−107,000	−134,000	−14	0
Capitalized financing costs	−2	0	−947,000	−4	0
Net cash provided by (used in) financing activities	26	365	−9	−78	−45
Effect of exchange rate changes on cash and cash equivalents	2	−8	414,000	2	−320,000
Net increase (decrease) in cash	7	7	−35	33	5
Cash paid for interest	48	33	23	14	11
Cash paid for income taxes	20	19	25	41	36
Fair value of assets acquired, net of cash	0	230	0	0	—
Liabilities assumed	0	−15	0	0	—
Net cash paid of acquisitions of businesses	0	216	0	0	—

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