The intermodal segment's return to profitability and the significant debt reduction are the key positive developments. Monitor whether intermodal revenue growth can sustain sequentially (up 20.4% from Q2) and whether the contract logistics margin improvement is durable. The credit facility extension removes near-term refinancing risk.
Price Chart
Executive Summary
Universal Logistics reported Q3 2026 GAAP diluted EPS of $0.69 on revenue of $394.0M, compared to consensus estimates of $0.32 and $390.4M, representing a 115.6% EPS beat and a revenue beat. The intermodal segment turned profitable with $2.7M in operating income versus a $135.1M loss a year ago (including $124.4M impairment), and the company extended its revolving credit facility through September 2029 while reducing net debt by $119.5M from year-end.
Key Financial Metrics
Key Facts
- Q3 2026 GAAP diluted EPS of $0.69 vs consensus $0.32 (beat by 115.6%)
- Q3 2026 revenue of $394.0M vs consensus $390.4M (beat)
- Revenue nearly flat YoY ($394.0M vs $396.8M) but operating income swung from a $117.4M loss to $32.8M profit
- Intermodal segment generated $2.7M operating income vs a $135.1M loss in Q3 2025 (which included $124.4M impairment)
- Contract logistics revenue up 2.8% YoY to $271.9M; operating margin improved to 8.4% from 5.2%
- Adjusted EBITDA of $64.7M vs $43.3M in Q3 2025 (up 49.4%)
- Debt net reduced to $678.1M from $797.6M at year-end 2025; revolving credit facility extended to September 2029
- Credit Agreement Leverage Ratio of 1.98x vs maximum permitted 3.50x
- Quarterly dividend maintained at $0.105 per share
Financial Impact
EPS of $0.69 vs consensus $0.32; revenue $394.0M vs consensus $390.4M; adjusted EBITDA $64.7M vs $43.3M YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Contract logistics | $271.9M | +2.8% |
| Intermodal | $53.1M | -17.9% |
| Trucking | $69.0M | +2.0% |
Risk Factors
- Intermodal load volumes declined 45.7% YoY despite revenue per load increasing 40.4%, indicating structural volume challenges
- Trucking load volumes declined 9.6% YoY, partially offset by pricing gains
- Cash and cash equivalents declined to $15.3M from $26.8M at year-end 2025
- Revenue was essentially flat YoY at $394.0M vs $396.8M, with growth dependent on pricing rather than volume
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-437842 |
| Document: ulh-20261029.htm | 0001193125-26-437842 |
| Document: 0001193125-26-437842-index-headers.html | 0001193125-26-437842 |
| Document: 0001193125-26-437842-index.html | 0001193125-26-437842 |
| Document: 0001193125-26-437842.txt | 0001193125-26-437842 |
| 8-K Data (Synthetic) | 0001193125-26-437842 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $17.26 | awaiting T+20 | awaiting T+20 | $22.59 (+30.88%) |
Jun 26, 2026 18w ago | 8-K | $14.91 $15.78 | ▲ +5.83% | ▲ +6.11% | $22.59 (+51.51%) |
Apr 8, 2026 29w ago | 8-K | $22.36 $13.98 | ▼ −37.48% | ▼ −45.05% | $22.59 (+1.03%) |
US Market Status
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