WARREN, Mich., July 19, 2017 /PRNewswire/ -- Universal
Logistics Holdings, Inc. (NASDAQ: ULH) announced today the planned
release of second quarter 2017 financial results after the market
closes on Thursday, July 27,
2017.
Based on currently available information, Universal expects to
report income from operations in the range of $5.0 million to $6.5 million, on total operating
revenues anticipated to range from $300
million to $305 million. This compares to $16.8 million of operating income in the second
quarter of 2016 on revenues totaling $276.8
million. Universal anticipates earnings per diluted
share to be in the range of $0.08 to
$0.11 for the second quarter of 2017, compared to
$0.32 per share in second quarter
2016.
"During the second quarter 2017, we came to a mutual agreement
with one of our customers to exit and transition certain
unprofitable value-added services performed by our Mexican
operation," stated Universal's Chief Executive Officer,
Jeff Rogers. "In the second
quarter alone, we incurred over $8.0
million in operating losses attributable to this
operation. We believe the decision provides the best solution
for both Universal and its customer, and we look forward to the
continued relationship we have on several other ongoing
programs. Although we are clearly disappointed with the
bottom line, there is a lot going on that I'm really excited
about. Our transportation segment is delivering solid
results, we're seeing recovery in our operations supporting the
heavy-truck market, and for the second quarter in a row, we grew
top-line revenues across all of our service lines. With much
of the headwinds behind us, and so many signs of improvement for
the industrial base of customers we serve, we look forward to
returning Universal to its historical performance."
Quarterly Earnings Conference Call Dial-in Details
We invite investors and analysts to our quarterly earnings
conference call:
Time:
|
|
10:00 AM Eastern
Time
|
Date:
|
|
Friday, July 28,
2017
|
Call Toll
Free:
|
|
(866)
622-0924
|
International
Dial-in:
|
+1 (660)
422-4956
|
Conference ID:
|
|
42884669
|
During the call, Jeff Rogers,
Chief Executive Officer, Jude Beres,
Chief Financial Officer, and Steven
Fitzpatrick, Vice President of Finance and Investor
Relations, will discuss Universal's second quarter 2017 financial
performance, the demand outlook in our key markets and other trends
impacting our business.
A replay of the conference call will be available beginning two
hours after the call through August 24,
2017, by calling (855) 859-2056 (toll free) or +1 (404)
537-3406 (toll) and using conference ID 42884669. The call will
also be available on investors.universallogistics.com.
About Universal
Universal Logistics Holdings, Inc. is a leading asset-light
provider of customized transportation and logistics solutions
throughout the United States, and
in Mexico, Canada and Colombia. We provide our customers with
supply chain solutions that can be scaled to meet their changing
demands and volumes. We offer our customers a broad array of
services across their entire supply chain, including truckload,
brokerage, dedicated, intermodal, and value-added
services.
Forward Looking Statements
Some of the statements contained in this press release might
be considered forward-looking statements. These statements identify
prospective information. Forward-looking statements can be
identified by words such as: "expect," "anticipate," "intend,"
"plan," "goal," "seek," "believe," "project," "estimate," "future,"
"likely," "may," "should" and similar references to future periods.
Forward-looking statements are based on information available at
the time and/or management's good faith belief with respect to
future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in the statements. Examples of forward-looking
statements include, among others, statements we make regarding
guidance relating to income from operations, total operating
revenues, and earnings per diluted share. These forward-looking
statements are subject to a number of factors that may cause actual
results to differ materially from the expectations described.
Additional information about the factors that may adversely affect
these forward-looking statements is contained in the Company's
reports and filings with the Securities and Exchange Commission.
The Company assumes no obligation to update forward-looking
statements to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information
except to the extent required by applicable securities
laws.
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SOURCE Universal Logistics Holdings, Inc.