In This Story
Universal Logistics Holdings Inc. (ULH-12.07%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing an increase in operating revenues to $1,846,035,000 from $1,662,139,000 in the previous year. This increase was primarily due to growth in the contract logistics segment.
Purchased transportation and equipment rent expenses decreased to $482,948,000 from $571,213,000, reflecting a decrease in transactional transportation-related services.
Direct personnel and related benefits increased to $583,251,000 from $542,779,000, attributed to headcount growth, particularly due to the acquisition of Parsec.
Operating supplies and expenses rose to $295,558,000 from $170,994,000, driven by costs associated with a specialty development project.
Net income for the year was $129,907,000, up from $92,901,000 in the previous year, resulting in earnings per share of $4.94, compared to $3.53 in the prior year.
Cash provided by operating activities was $112,371,000, while cash used in investing activities was $462,898,000, primarily due to capital expenditures and acquisitions.
Universal's total assets increased to $1,786,837,000, with significant growth in property and equipment and intangible assets following acquisitions.
The company reported a material weakness in its internal control over financial reporting, related to errors in financial statement preparation and accounting for non-routine transactions.
Universal continues to focus on expanding its contract logistics segment and enhancing its service capabilities through strategic acquisitions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Universal Logistics Holdings Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.