Why Universal Logistics Stock Is Down Today
Universal Logistics Holdings (NASDAQ: ULH) reported record fourth-quarter and full-year financial results, but warned that it will be difficult to sustain that success in the year to come. Investors were focused on the tepid outlook, sending shares down about 12% on Friday.
Universal Logistics provides a range of transportation services to corporate customers, with operations throughout North America and in Colombia. The company earned $1.27 per share in the fourth quarter on revenue of $458.7 million. The earnings figure easily topped the $0.60-per-share estimate, but revenue was down 1.9% year over year and came in about $9 million short of expectations.
For the full year, Universal more than doubled net income and reported revenues in excess of $2 billion.
Source Fool.com
