Universal Logistics Holdings, Inc. reported a significant decline in financial performance for the second quarter and first half of 2025, as detailed in its latest 10-Q filing. For the thirteen weeks ended June 28, 2025, the company generated operating revenues of $393.8 million, a decrease of 14.8% from $462.2 million in the same period last year. Net income also fell sharply to $8.3 million, down 72.9% from $30.7 million in the prior year. The earnings per share for the quarter were $0.32, compared to $1.17 in the previous year.
The decline in revenue was attributed to decreased demand for transportation-related services, particularly in the truckload and brokerage segments. The second quarter of 2025 included $55 million in revenue from the acquisition of Parsec, while the previous year’s figures included $44.6 million from a specialty development program that has since concluded. Additionally, the company noted a drop in fuel surcharges, which totaled $20.2 million in the latest quarter compared to $24.5 million a year earlier.
Operationally, Universal Logistics experienced a 32.9% decrease in transactional transportation-related service revenues, which directly impacted purchased transportation and equipment rental costs, leading to a 40.6% reduction in these expenses. However, direct personnel and related benefits increased by 24% due to a rise in headcount following the Parsec acquisition. The company managed to reduce overall operating expenses by 9.9%, but this was not sufficient to offset the revenue decline, resulting in a 57.8% drop in income from operations.
In terms of strategic developments, Universal Logistics continues to expand its service offerings and geographic reach, with a focus on enhancing its value-added services. The company reported managing 87 value-added programs at the end of the second quarter, up from 68 a year earlier. Despite the current challenges, the company maintains a positive outlook, emphasizing its flexible business model and the potential for recovery as market conditions improve. The management anticipates that cash generated from operations, along with available credit facilities, will be sufficient to meet its liquidity needs in the near term.
About UNIVERSAL LOGISTICS HOLDINGS, INC.
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