Universal Logistics Holdings Inc., a Warren, Mich., truckload carrier, said the company set a record for total operating revenue in the second quarter, reaching $366 million compared with $305 million in 2017. The company’s net income was $18 million, or 62 cents a share, the best earnings report in its history and a 520% increase compared with $2.7 million and 10 cents a share in 2017.
“Team Universal delivered excellent results this quarter,” CEO Jeff Rogers said. “This is the third consecutive quarter we have reported record-breaking revenues, and the second-quarter 2018 also boasts Universal’s highest level of operating income in history. We are successfully executing on our profitability targets while continuing to deliver the highest level of customer service.”
The company’s operating divisions — truckload, brokerage, intermodal, dedicated and value-added — all showed significant increases in operating revenue, helping to push the company’s quarterly number up by more than $60 million.