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Get filing alertsUniversal Logistics swings to $3.5M Q1 loss as intermodal segment deteriorates
Filed May 1, 2026 · Period ending April 29, 2026 · ~1 min read
Key Changes
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Q1 2026 net loss of $3.5M ($0.13/share) on revenues of $367.6M, reversing from $6.0M profit ($0.23/share) in Q1 2025 on revenues of $382.4M. Operating margin compressed from 4.1% to 1.3%.
Item 2.02 verify on EDGAR → -
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Intermodal segment revenues plunged 32.3% to $47.9M as load volumes fell 23.3% and revenue per load declined 10.4%. Operating loss widened to $13.1M (negative 27.4% margin) from $10.7M loss (negative 15.1% margin) in Q1 2025.
Exhibit 99.1 view on EDGAR → -
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Contract logistics revenues grew 5.3% to $269.5M, but operating income fell 26.8% to $17.5M as margin compressed from 9.3% to 6.5%. Active value-added programs declined to 79 from 87 year-over-year.
Exhibit 99.1 view on EDGAR → -
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Five directors received 77.6%–79.7% support in uncontested elections (Calderone, M.J. Moroun, M.T. Moroun, Phillips, Wolfe), with withhold votes of 20.3%–22.4%. Three directors received over 92% support. Say-on-pay passed with 99.3% approval.
Item 5.07 verify on EDGAR → -
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Incoming CFO Michael Rogers receives $425,100 base salary (rising to $500,000 in June 2027), guaranteed $300,000 bonus for 2026, and $127,500 restricted stock award vesting over four years starting June 1, 2026.
Item 5.02 verify on EDGAR →
Summary
Universal Logistics reported a sharp deterioration in first-quarter results, swinging from a $6.0 million profit in Q1 2025 to a $3.5 million loss in Q1 2026 despite maintaining its quarterly dividend at $0.105 per share.
The intermodal segment drove the decline, with revenues collapsing 32.3% as both volumes and pricing weakened substantially—CEO Tim Phillips acknowledged the recovery is taking longer than anticipated. The segment's operating loss widened to $13.1 million with a negative 27.4% margin, reflecting what management described as continued softness in demand and pricing pressure.
The contract logistics segment provided partial offset with 5.3% revenue growth, but profitability there also deteriorated as operating margin compressed 280 basis points to 6.5%. The company managed 79 value-added programs at quarter-end, down from 87 a year earlier. With cash declining to $17.9 million from $26.8 million at year-end and debt at $754.7 million, the company's ability to sustain its dividend through an extended intermodal downturn bears watching. The annual meeting results were routine, with all directors elected and compensation proposals approved by wide margins.
Section-by-Section Diff
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
ULH held its 2026 annual meeting, electing 9 directors, approving executive compensation, and ratifying Ernst & Young as auditor.
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Added in current filing · verify on EDGAR →
For | Against | Abstain | 25,683,675 | 176,542 | 43,859
There were 196,327 broker non-votes with respect to this proposal.
Shareholders approved executive compensation on an advisory basis with 99.3% of votes cast in favor. Only 0.7% voted against, reflecting strong shareholder support for the compensation awarded to named executive officers in 2025.
Added in current filing · verify on EDGAR →
For | Against | Abstain | 26,082,205 | 3,591 | 14,607
Shareholders ratified the appointment of Ernst & Young, LLP as the independent registered public accounting firm for 2026 with 99.99% of votes cast in favor, indicating near-unanimous approval.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
ULH disclosed CFO employment terms and appointed a director to the Audit Committee.
Show 2 minor / wording changes
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In addition, effective as of the Effective Date, Mr. Rogers will be eligible to receive a restricted stock award with an aggregate grant date value of approximately $127,500, which is expected to vest over a four-year period, with 25% vesting on each anniversary of the grant date, subject to Mr. Rogers’ continued employment.
The CFO will receive a restricted stock award valued at approximately $127,500, vesting 25% annually over four years. This equity component aligns his interests with shareholders and is standard for executive compensation packages.
Added in current filing · verify on EDGAR →
On April 29, 2026, the Board of Directors appointed Michael A. Regan to serve as a member of the Audit Committee, effective immediately. Mr. Regan has served as a director of the Company since 2013. The Board of Directors has determined that Mr. Regan is independent under the applicable listing standards of The Nasdaq Stock Market LLC and qualifies as an audit committee financial expert.
The Board appointed existing director Michael A. Regan to the Audit Committee. Regan has been a director since 2013, is independent under Nasdaq standards, and qualifies as an audit committee financial expert. This strengthens the committee's financial oversight capabilities.
Event · Item 2.02 — Results of Operations and Financial Condition
Universal Logistics announced Q1 2026 financial results via press release.
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On May 1, 2026, Universal Logistics Holdings, Inc. (the “Company”) issued a press release announcing its financial and operating results for the thirteen weeks ended April 4, 2026
The company disclosed its first quarter 2026 financial and operating results covering the thirteen-week period ended April 4, 2026. The actual financial figures are contained in the press release furnished as Exhibit 99.1, which is not included in this 8-K body text.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
consolidated first quarter 2026 net loss of $(3.5) million, or $(0.13) per basic and diluted share, on total operating revenues of $367.6 million. This compares to net income of $6.0 million, or $0.23 per basic and diluted share, during first quarter 2025 on total operating revenues of $382.4 million.
Universal Logistics reported a net loss of $3.5 million ($0.13 per share) for Q1 2026, a sharp reversal from $6.0 million net income ($0.23 per share) in Q1 2025. Operating revenues declined 3.9% year-over-year to $367.6 million. Operating income fell to $4.8 million from $15.7 million, with operating margin compressing from 4.1% to 1.3%.
Added in current filing · view on EDGAR →
Universal Logistics Holdings, Inc. also announced today that its Board of Directors has declared a cash dividend of $0.105 per share of common stock. The dividend is payable to stockholders of record at the close of business on June 1, 2026 and is expected to be paid on July 1, 2026.
The Board declared a quarterly dividend of $0.105 per share, payable July 1, 2026 to shareholders of record on June 1, 2026. This maintains the same dividend level as Q1 2025 despite the quarterly loss.
Added in current filing · view on EDGAR →
As of April 4, 2026, Universal held cash and cash equivalents totaling $17.9 million. Outstanding debt at the end of first quarter 2026 was $754.7 million and capital expenditures totaled $9.6 million.
Cash and equivalents stood at $17.9 million at quarter-end, down from $26.8 million at year-end 2025. Outstanding debt was $754.7 million, down from $797.6 million at year-end. The company spent $9.6 million on capital expenditures during the quarter.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify