Universal Expects Growth in Operating Income, EPS for First Time Since 2015
Universal Logistics Holdings Inc. expects revenue to grow about 10% in the third quarter when earnings are released after the market closes Oct. 26.
The truckload carrier estimates it generated between $300 million and $305 million for the three-month period ending Sept. 30, better than the $271.5 million one year ago.
Operating income, or the amount after deducting expenses, is due to rise to a range of $12 million to $13.5 million from $10 million in 2016. Earnings per share is expected to rise to 22 to 25 cents from 18 cents.
“The third quarter is shaping up to be a good quarter for us,” Universal’s CEO Jeff Rogers said. “In addition to another quarter of double-digit revenue growth, our logistics teams did a great job of turning around a few underperforming value-added operations. Transportation is delivering solid results, and as capacity continues to tighten, I believe we are well positioned to take advantage of the strengthening freight environment. We are optimistic for the remainder of the year, and very excited about the road ahead.”
For Universal, it’ll be the first time operating income and earnings per share grew year over year since the first quarter of 2015. It’ll also be third consecutive quarter revenue grew year over year after declining throughout 2015 and 2016.
The Warren, Mich.-based company ranks No. 32 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
