ULH Q2 net income +215% to $26.2M on lower tax drag; intermodal losses deepen as volumes fall

Filed August 13, 2026 · Period ending July 4, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income rose 215% to $26.2M (EPS $0.99) despite operating income up only 127% to $45.1M; the bottom-line gain came from a $7.4M reduction in below-the-line drags (income tax -$5.5M, non-operating/other -$1.9M), not from operations.

  MD&A: Earnings quality verify on EDGAR →
• high

  Intermodal operating loss nearly doubled to $10.4M (margin -23.7%) as revenues fell 36% to $44.1M on lower volumes and pricing; segment now operates well below breakeven scale.

  MD&A: Intermodal segment verify on EDGAR →
• high

  Insurance and claims expense more than doubled to $17.5M from $7.6M, driven by increased reserves for auto liability claims involving third-party broker carriers; May 2026 Supreme Court ruling eliminated a federal preemption defense for broker negligent-selection claims.

  MD&A: Insurance & claims; Risk Factors verify on EDGAR →