CORRECTED-Universal Logistics Q4 revenue falls, net income drops

Overview

• US logistics provider's Q4 total operating revenues and EPS fell sharply year-over-year

• Board declared quarterly dividend of $0.105 per share, unchanged from prior year

Outlook

• Company says market conditions remain muted and is focused on cost-saving initiatives

Result Drivers

• SPECIALTY PROJECT COMPLETION - Revenue in contract logistics fell due to the absence of a large specialty development project completed in the prior year

• INTERMODAL WEAKNESS - Lower load volumes and reduced pricing in intermodal segment weighed on overall results

• TRUCKING VOLUME DECLINE - Trucking segment revenue dropped due to a 25.9% decline in load volumes, despite higher revenue per load

Company press release: ID:nPn173lWsa

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "hold"

• The average consensus recommendation for the ground freight & logistics peer group is "buy"

• Wall Street's median 12-month price target for Universal Logistics Holdings Inc is $17.00, about 20.8% above its March 12 closing price of $14.07

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 18 three months ago

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