Universal Truckload Services Second Quarter Revenue Up, Earnings Down
Universal Truckload Services, Inc. (NASDAQ: UACL) reported today second quarter net income of $13.6 million, or $0.45 per basic and diluted share, on total revenues of $307.5 million.
This compares to net income of $14.2 million, or $0.47 per basic and diluted share, on total revenues of $264.2 million during the second quarter of 2013.
Operating revenues increased 16.4% in the quarter ended June 28, 2014 compared to the second quarter of 2013.
Excluding results from the company’s December 2013 acquisition of Westport Axle Corporation, which totaled $26.3 million in the second quarter, Universal’s consolidated operating revenues grew 6.4% to $281.2 million, compared to $264.2 million in the second quarter of 2013.
Revenues from transportation services increased to $197.5 million in the quarter ended June 28, 2014, a 10.1% increase from the comparable period last year due to solid demand in key markets and a good pricing environment.
Revenues from intermodal services increased 1.2%, to $34.0 million from $33.6 million in the second quarter of 2013.
“Our transportation businesses performed well in the second quarter, driven by a 5.7% increase in the number of loads and a 6.5% improvement in average operating revenue per loaded mile,” stated Universal’s Chief Executive Officer, Scott Wolfe.
Universal Truckload Services is a leading asset-light provider of customized transportation and logistics solutions throughout the United States, Mexico and Canada.
Category: General Update
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