Universal Truckload Earnings Drop 7% in 4Q

Universal Truckload Services Inc. said fourth-quarter net income fell 7% to $10.5 million, or 35 cents per share, as profits fell at its logistics business.

In the year earlier, the Warren, Michigan-based company’s net income was $11.3 million, or 38 cents per share. Revenue increased 17% to $302.5 million. Profit before interest and taxes from truckload services rose nearly 40% to $9.6 million. Profit on that basis fell 13% in the logistics unit.

“Our truckload transportation and intermodal businesses enjoyed favorable demand and pricing environments throughout the year,” CEO Jeff Rogers said in a statement. He also noted the need to improve profit margins at the logistics and dedicated units.

Universal ranks No. 28 on the Transport Topics Top 100 list of the U.S. and Canadian for-hire carriers.