Universal Logistics Holdings reported sharply weaker financial results for the fourth quarter of 2025, as declines across several transportation segments — particularly intermodal — weighed on the company’s earnings.
The Warren, Michigan-based logistics provider reported fourth-quarter operating revenue of $385.4 million, down from $465.1 million a year earlier, while net income fell to $3.7 million, or 14 cents per share, compared with $20.2 million, or 77 cents per share, in the fourth quarter of 2024.
Operating income also dropped significantly, falling to $17.5 million from $38.3 million a year earlier as operating margins compressed to 4.5% from 8.2%.
“The fourth quarter of 2025 yielded mixed results within our service portfolio,” CEO Tim Phillips said in a news release. “Our contract logistics and trucking segments performed in line with expectations, while underperformance in intermodal remained a meaningful headwind to our overall results.”
Contract logistics remains largest segment
Universal’s contract logistics segment, which includes value-added and dedicated services, remained the company’s largest business line but still posted lower revenue.
Contract logistics generated $268.6 million in revenue, down 12.6% year over year from $307.4 million. The decline was partly due to the completion of a specialty development project in Stanton, Tennessee, that contributed more than $51 million in revenue in the prior-year quarter.
The segment recorded operating income of $23.2 million, compared with $39.1 million in the prior-year quarter.
Intermodal remains major drag
Universal’s intermodal segment posted the steepest operational pressure, with revenue dropping to $52.7 million, down 27.9% from $73.1 million a year earlier.
Load volumes declined 19.1%, while pricing fell further, pushing the segment to an operating loss of $10.6 million, compared with a $9.7 million loss in the same quarter of 2024.
Trucking and brokerage volumes fall
The company’s trucking segment reported revenue of $64.1 million, down 23.6% year over year from $83.8 million.
Within that segment, brokerage services revenue fell to $16.1 million, compared with $25.5 million a year earlier as shipment volumes declined.
Load volumes in the trucking segment fell 25.9% year over year, though revenue per load increased modestly.
Dividend maintained despite weaker results
Despite the weaker earnings, Universal’s board declared a quarterly dividend of 10.5 cents per share, payable April 3, to shareholders of record on March 23.
The company ended the quarter with $26.8 million in cash and cash equivalents and $802.3 million in outstanding debt.
Management said it continues focusing on cost reductions and operational efficiency initiatives as freight market conditions remain subdued.
| Metric | Q4/2025 | Q4/2024 | Y/Y % Change |
|---|---|---|---|
| Total Revenue | $385.4M | $465.1M | -17.1% |
| Trucking Revenue | $64.1M | $83.8M | -23.6% |
| Brokerage Services Revenue | $16.1M | $25.5M | -37.1% |
| Intermodal Revenue | $52.7M | $73.1M | -27.9% |
| Contract Logistics Revenue | $268.6M | $307.4M | -12.6% |
| Adjusted EPS | $0.14 | $0.77 | -81.8% |
Universal Logistics key fourth-quarter performance indicators.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post • Chicago, IL Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now