Universal Logistics Holdings, Inc. Reports Fourth Quarter 2025 Financial Results; Declares Dividend (Form 8-K)

Universal Logistics Holdings, Inc. Reports Fourth Quarter 2025 Financial Results; Declares Dividend

Warren, MI - March 13, 2026 - Universal Logistics Holdings, Inc. (NASDAQ: ULH) today reported consolidated fourth quarter 2025 net income of $3.7 million, or $0.14 per basic and diluted share, on total operating revenues of $385.4 million.

For comparative purposes, Universal reported total operating revenues of $465.1 million, net income of $20.2 million, and $0.77 earnings per basic and diluted share for the corresponding period last year.

In the fourth quarter 2025, Universal's operating income was $17.5 million, compared to $38.3 million in the fourth quarter one year earlier. As a percentage of operating revenue, operating margin for the fourth quarter 2025 was 4.5%, compared to 8.2% during the same period last year.

The Company's EBITDA, a non-GAAP measure, during the fourth quarter 2025 was $57.1 million, compared to $73.5 million one year earlier. As a percentage of operating revenue, EBITDA margin for the fourth quarter 2025 was 14.8%, compared to 15.8% during the same period last year.

The Company provides reconciliations of each non-GAAP financial measure used in this release to the most directly comparable financial measures calculated and presented in accordance with GAAP. These quantitative reconciliations, together with management's explanation of the purposes for which the non-GAAP measures are used, are presented in the accompanying tables and related disclosures.

"The fourth quarter of 2025 yielded mixed results within our service portfolio," stated Tim Phillips, Universal's CEO. "Our contract logistics and trucking segments performed in line with expectations, while underperformance in intermodal remained a meaningful headwind to our overall results. We remain focused on driving efficiencies in our operations and executing cost-saving initiatives across the organization to support profitable growth. While market conditions remain muted, we believe the strength and resilience of Universal's business model will drive our long-term success."

Segment Information:

Contract Logistics

In the contract logistics segment, which includes our value-added and dedicated services, fourth quarter 2025 operating revenues decreased 12.6% to $268.6 million, compared to $307.4 million for the same period last year. The year-over-year decrease primarily reflects the absence of revenues associated with our specialty development project in Stanton, Tennessee, which contributed $51.3 million to operating revenues in the fourth quarter of 2024 and was completed in that period.

Included in contract logistics segment revenues were $7.4 million in separately identified fuel surcharges from dedicated transportation services, compared to $8.3 million in the same period last year. At the end of the fourth quarter 2025, we managed 78 value-added programs, compared to a total of 90 programs at the end of the fourth quarter 2024.

Income from operations in the contract logistics segment during the fourth quarter 2025 was $23.2 million, compared to $39.1 million during the same period last year. As a percentage of revenue, operating margin for the segment was 8.6% for the fourth quarter 2025, compared to 12.7% in the prior-year period.

Intermodal

Operating revenues in the intermodal segment decreased 27.9% to $52.7 million in the fourth quarter 2025, compared to $73.1 million for the same period last year. The year-over-year decline reflects lower load volumes and reduced pricing.

Included in intermodal segment revenues for the fourth quarter 2025 were $6.5 million in separately identified fuel surcharges, compared to $9.1 million in the prior-year period. Intermodal segment revenues also included other accessorial charges, such as detention, demurrage and storage, totaling $7.1 million, compared to $8.6 million one year earlier.

Load volumes declined 19.1% year-over-year, while average operating revenue per load, excluding fuel surcharges, declined an additional 8.9%. Operating losses in the intermodal segment for the fourth quarter 2025 were $(10.6) million, compared to an operating loss of $(9.7) million in the same period last year. As a percentage of revenue, operating margin for the segment was (20.0)% in the fourth quarter 2025, compared to (13.2)% in the prior-year period.

Trucking

In the trucking segment, fourth quarter 2025 operating revenues decreased 23.6% to $64.1 million, compared to $83.8 million for the same period last year.

Fourth quarter 2025 trucking segment revenues included $15.3 million of brokerage services, compared to $22.8 million in the prior-year period. Also included in our trucking segment revenues were $3.1 million in separately identified fuel surcharges, compared to $4.1 million one year earlier.

On a year-over-year basis, load volumes declined 25.9%, while average operating revenue per load, excluding fuel surcharges, increased 6.7%. Income from operations in the trucking segment during the fourth quarter 2025 was $4.5 million, compared to $5.8 million in the same period last year. As a percentage of revenue, operating margin in the segment was 7.0% in the fourth quarter 2025, compared to 6.9% in the prior-year period.

Cash Dividend

Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock. The dividend is payable to shareholders of record at the close of business on March 23, 2026 and is currently expected to be paid on April 3, 2026.

Other Matters

As of December 31, 2025, Universal held $26.8 million in cash and cash equivalents and $10.4 million in marketable securities. Outstanding debt at the end of the fourth quarter 2025 was $802.3 million, and capital expenditures during the quarter totaled $32.9 million.

Universal calculates and reports certain financial metrics, in addition to those prepared in accordance with GAAP, for purposes of its lending arrangements and to assist management in evaluating operating performance by isolating and excluding the impact of certain non-operating expenses associated with corporate development activities. These measures are described in more detail below in the section captioned "Non-GAAP Financial Measures."

Source: Universal Logistics Holdings, Inc.