Universal Logistics Reports Q2 Revenue of $379.3 Million

The Warren, Michigan-based logistics provider saw its GAAP income from operations reach $45.1 million, a sharp increase from $19.9 million in the same period last year. This growth was driven by a $45.3 million gain from the sale of real estate in Kearny, New Jersey, which offset $12.3 million in legal charges and a $3.9 million impairment on unused tractors. When excluding these non-recurring items, the company's adjusted operating margin sat at 4.2%, compared to 5.1% in the prior-year period.

CEO Tim Phillips noted progress in the company’s contract logistics and trucking segments, even as the broader freight market recovery remains in its nascent stages. The intermodal segment faced the most significant headwinds, with revenues falling 36% to $44.1 million due to lower load volumes and sustained pricing pressure. Conversely, the contract logistics segment proved resilient, growing revenues by 4.2% to $271.4 million. Looking ahead, the board declared a cash dividend of $0.105 per share, payable on October 1, 2026, while the company continues to focus on debt reduction, having lowered outstanding borrowings by $106.8 million since the start of the year.