We sat down with Jonathan Kolb, Founder of OBC ONE, to explore the high-stakes, hand-delivered world of onboard couriers where packages fly 8,000 miles and delays can cost millions. Plus: our featured carrier of the week.
Universal Logistics Holdings, Inc. exceeded expectations in Q4 despite facing industry-wide challenges. Here's a nutshell view of their performance and outlook:
Earnings Overview:
Q4 operating revenue hit $390.9M, down 14.8% year-over-year but above Wall Street's $377.3M forecast.
Earnings per share were 81 cents, surpassing estimates and showcasing resilience amid declines.
Sector Highlights:
Truckload Services: Experienced a 15% revenue drop to $46M in Q4, with a slight reduction in loads hauled.
Intermodal Segment: Saw a 31% decrease in revenue at $85.4M, reflecting lower import volumes.
Brokerage Services: Dipped 23% to $58.1M.
Dedicated Segment: Grew by 3% in Q4, ending at $85.5M.
The company's strategic moves include the announcement of a $50M expansion in Roanoke, VA.
Looking Ahead:
With mixed signals from the market, CEO Tim Phillips cautiously optimistic about a potential uptick in H2 2024.
Two major contract logistics projects slated for Q1 2025 launch.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
Landstar reported $1.15B in Q1 revenue and a $4.8M charge related to an international fraud incident, while freight volumes outpaced expectations despite a challenging market.
Saia shares have had an incredibly challenging past week, dropping 33% after missing earnings, down $117 from its high at $354.15, now trading at $237.95.
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