WARREN, Mich., Feb. 9, 2017 /PRNewswire/ -- Universal Logistics
Holdings, Inc. (NASDAQ: ULH) announced today the planned release of
its 2016 financial results after the market closes on Thursday, February 23, 2017.
Based on currently available information, Universal expects to
report fourth quarter total operating revenues in the range of
$260 million to $265 million, and
2016 full-year operating revenues of approximately $1.07 billion. Income from operations for
the fourth quarter is anticipated to be in a range between
$5.5 million to $6.0 million, and
includes a $1.2 million pre-tax
charge to bad debt expense for a customer related bankruptcy.
This compares to $18.5 million of
operating income in the fourth quarter of 2015 on total revenues of
$286.0 million.
Universal anticipates reporting earnings per share of
approximately $0.10 for the fourth
quarter of 2016, and full-year earnings of approximately
$0.85 per share. This compares
to $0.33 per share in the fourth
quarter of 2015, and full-year earnings of $1.37 per share.
"As we close the books on 2016, we are very much looking forward
to the coming year," stated Jeff
Rogers, Universal's Chief Executive Officer. "Top-line
revenues were generally aligned with expectations in the fourth
quarter; however, continued headwinds in our value-added operations
supporting heavy-truck, as well as depressed margins in the early
phases of two significant program launches, negatively impacted our
fourth quarter results. Looking forward to 2017, we are
beginning to see some positive momentum. Transportation
services are trending upwards, and we're starting to see our
value-added operations better aligning with expectations.
Though I expect heavy-truck to remain challenging in the near term,
I am confident we have the right people in place to execute our
long-term strategy; I am excited about the opportunities that lay
ahead."
The above information is subject to adjustments as Universal
completes its annual financial close and reporting processes,
including the annual audit of our consolidated financial
statements.
Investor Conference:
Jeff Rogers, Universal's Chief
Executive Officer, Jude Beres, Chief
Financial Officer and Steven
Fitzpatrick, Vice President of Finance and Investor
Relations, will attend the Stifel 2017 Transportation &
Logistics Conference at The Ritz-Carlton in Key Biscayne,
Florida. Universal's presentation begins at 4:55 PM ET on Tuesday,
February 14, 2017.
At the conference, management will present on Universal's unique
capabilities, reflect on current market and operating trends,
discuss recent corporate developments, and outline plans and
expectations for future growth.
The conference will be broadcast live via webcast at
http://www.universallogistics.com. Click on "Investor
Relations" and then click the webcast link. A webcast replay
will be available for 30 days following each event.
Conference Call:
We invite analysts and investors to participate in our 2016
financial performance conference call:
Time:
|
|
10:00 AM
EDT
|
Date:
|
|
Friday, February 24,
2017
|
Call Toll
Free:
|
|
(866)
622-0924
|
International
Dial-in:
|
+1 (660)
422-4956
|
Conference ID:
|
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54192791
|
A replay of the conference call will be available beginning two
hours after the call through March 24,
2017, by calling (855) 859-2056 (toll free) or +1 (404)
537-3406 (toll) and using conference ID 54192791. The call will
also be available on
investors.universallogistics.com.
About Universal
Universal Logistics Holdings, Inc. is a leading asset-light
provider of customized transportation and logistics solutions
throughout the United States, and
in Mexico, Canada and Colombia. We provide our customers with
supply chain solutions that can be scaled to meet their changing
demands and volumes. We offer our customers a broad array of
services across their entire supply chain, including
transportation, intermodal, and value-added services.
Forward Looking Statements
Some of the statements contained in this press release might
be considered forward-looking statements. These statements identify
prospective information. Forward-looking statements are based on
information available at the time and/or management's good faith
belief with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in the statements. These
forward-looking statements are subject to a number of factors that
may cause actual results to differ materially from the expectations
described. Additional information about the factors that may
adversely affect these forward-looking statements is contained in
the Company's reports and filings with the Securities and Exchange
Commission. The Company assumes no obligation to update
forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information except to the extent required by applicable securities
laws.
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SOURCE Universal Logistics Holdings, Inc.