Latest news with #TimPhillips
Yahoo
11 hours ago
- Business
- Yahoo
Universal Logistics bets on specialized freight in soft market
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Universal Logistics is betting big on specialized freight, as hauling components for the wind business in the energy sector shows promise in an otherwise soft freight market, several executives said in a recent Q2 earnings call. 'Our focus on specialized freight, including our wind energy business, continues to support more resilient margins even in a depressed market,' CEO Tim Phillips said. 'In the current freight environment, Universal Logistics' revenue decreased by 14.8% year over year to $393.8 million as trucking volumes sank 22.6% during the quarter, according to its earnings report released July 24. The company has been investing in its wind franchise where it hauls blades, towers and components, CFO Jude Marcus Beres said in the call. The strong demand in wind is a continued trend the company highlighted back in Q1, with the CEO saying its heavy haul wind operations were a strategic differentiator for its trucking segment. Universal Logistics' revenue per load, excluding fuel surcharges, increased by more than 24% YOY in Q1, Phillips said, labeling it a sign that the company's strategy of emphasizing specialized high-yield freight is gaining traction. Growth in demand for wind energy-related transport hauls seems to be a growing trend among other companies, with Landstar System also reporting its heavy haul service being positive for the company. Landstar's CEO said the demand for infrastructure related to AI, such as data centers, along with wind energy, are contributing to the need for flatbed and bulk trucking services. Even with strong demand, Universal Logistics' wind franchise was negatively impacted in the first half of the year due to tariffs. 'A lot of those components are imported but I think the cadence that we're seeing in the back half of the year should make up for the shortfall in that business that we experienced in the first half,' Beres said. Most of the headwinds in the wind business will be manageable and start to improve in the coming quarters, Beres said, due in part to clarity the company gained with the passing of the 'One Big Beautiful Bill.' The tax package from Congress enhances multiple areas for trucking businesses and tax-reduction benefits, according to some trucking groups. Looking ahead, Universal Logistics plans to expand into other heavy haul opportunities to support various industries, Phillips said. 'We're pretty bullish on the specialized and we'll continue to focus on building that product out,' he said. Recommended Reading Universal Logistics revenues fall amid 31% drop in trucking volumes
Yahoo
25-07-2025
- Business
- Yahoo
Universal Logistics sees impact of tariffs on Q2 revenue, earnings
Transportation provider Universal Logistics Holdings reported a decline in second quarter earnings and revenue due to lower intermodal volumes and slow demand, company officials said. Universal Logistics Holdings released its second-quarter results after the market closed on Thursday and held an earnings call Friday. The company reported second quarter revenue of $393.8 million, a 15% year-over-year decrease. Adjusted earnings per share decreased 73% year-over-year to 32 cents during the quarter. 'The second quarter of 2025 remained a challenging environment across the transportation and logistics industry,' CEO Tim Phillips said. Universal Logistics (Nasdaq: ULH) is a Warren, Michigan-based truckload transportation, intermodal and logistics provider. The company provides services across the U.S, Mexico, Canada and Colombia and has more than 10,000 employees. The company missed Wall Street analysts' forecasts for revenue of $398.5 million and earnings per share of 34 cents in the second quarter. 'The contract logistics segment remains the cornerstone of our results,' Phillips said. 'Revenues were $260.6 million, down slightly from Q2 of last year. The integration of Parsec continues to progress smoothly and it contributed $55 million in revenue during the quarter.' Universal Logistics acquired rail terminal operator Parsec for $193.6 million in September. Cincinnati-based Parsec provides terminal management services at 20 rail yards across North America. The company specializes in container lift services for Class I, regional and short-line railroads. Universal Logistics currently operates 87 value-added programs, including 20 rail terminals, up from 68 programs a year ago. 'We are confident in the stability and long-term growth prospects of this segment, especially as we integrate our expanded footprint and pursue new contract opportunities,' Phillips said. In the company's intermodal segment, revenue decreased 13.5% year-over-year in the second quarter to $68.9 million. During the second quarter, Universal saw a 12.9% year-over-year decrease in intermodal load volumes, caused by less imports, Phillips said. 'I think the tariffs did have an impact on our intermodal division and imports coming into the country,' Phillips said. 'The way I saw it is we saw a general fall off in some of our normal volumes somewhere in the middle to end of May, and that lasted generally through the month of June. It appears that that fall off was specifically highlighted from discount retailers that had a large presence of Chinese sourcing.' The trucking segment saw a 29.9% year-over-year decrease in second quarter revenue at $45.9 million. On a year-over-year basis, trucking load volumes declined 22.6%, and the average operating revenue per load, excluding fuel surcharges, declined 8.9% to $1,927. Company officials said there has been less demand for raw materials, along with goods such as wind turbines, that has contributed to softer demand in the trucking market. 'We haul blades, we haul towers, and we haul components. That business was impacted negatively in the first half of the year, primarily because of tariffs,' CFO Jude Beres said. 'A lot of those components are imported, but I think the cadence that we're seeing in the back half of the year should make up for the shortfall in that business that we experienced in the first half. And then of course, we have a pretty clear runway now with the one big beautiful bill on what's going to happen for the next five years through 2030. I think most of the headwinds in the wind side of the business are going to be manageable and start to improve in the coming quarters.' The post Universal Logistics sees impact of tariffs on Q2 revenue, earnings appeared first on FreightWaves. Sign in to access your portfolio
Business Wire
16-07-2025
- Health
- Business Wire
Treatment with Next-Generation, Liquid Embolic NeoCas
WALTHAM, Mass.--(BUSINESS WIRE)-- Arsenal Medical, a clinical-stage company developing innovative biomaterials-based devices, today announced late-breaking data from the EMBO-02 clinical study for NeoCast™, a next-generation, shear-responsive liquid embolic treatment. In EMBO-02, NeoCast was evaluated in patients with chronic subdural hematoma (cSDH), a collection of blood on the surface of the brain, using middle meningeal artery embolization (MMAe). Research presented in podium sessions at the Society of Neurointerventional Surgery (SNIS) annual meeting in Nashville, Tenn., showed that all patients met primary safety and feasibility endpoints. Separate late-breaking results demonstrated that NeoCast can be administered painlessly and resulted in rapid hematoma resorption. A total of 15 patients with cSDH have been enrolled in EMBO-02 across three sites in Australia. The initial cohort (n=10) allowed either general anesthesia or conscious sedation, while the second cohort (n=5) specified the use of conscious sedation. Highlights include: 87% of patients underwent embolization without adjunctive surgery. 100% target vessel occlusion, and no non-target embolization. There were no NeoCast-related adverse events. Cohort 1 (n=10): 60% and 90% of patients had complete hematoma resolution at 3 and 6 months, respectively. 80%+ of patients had clinical outcome measures (mRS, VAS, and Markwalder) that were improved or unchanged from baseline. Cohort 2 (n=5): MMAe with NeoCast was completed under conscious sedation. No patients reported pain during the injection or increased headache 24 hours post-embolization. 'NeoCast's unique material characteristics have translated from pre-clinical studies to the EMBO-01 first-in-human study in hypervascular brain tumors, and now to the treatment of chronic subdural hematoma in EMBO-02. Results from these studies demonstrate the potential of NeoCast to provide deep distal penetration in multiple clinical scenarios and suggest benefits in speed of hematoma resolution for patients suffering from chronic subdural hematoma,' said Lee-Anne Slater, MBBS MMed FRANZCR, Interventional Neuroradiologist at Monash Health and EMBO-02 principal investigator. 'NeoCast is truly a next-generation liquid embolic agent. The ease of use, controllability, and the lack of pain during or after the injection are such differentiating factors for NeoCast over currently available liquid agents,' said Dr. Tim Phillips, MBBS GDSA FRANZCR, Interventional Neuroradiologist at the Neuro-Intervention and Imaging Service of Western Australia (NIISwa), Sir Charles Gairdner Hospital in Perth, Western Australia. 'We designed NeoCast to be a pain-free, non-adhesive biomaterial to overcome the limitations of existing liquid embolic technologies. These clinical results provide early reinforcement of what we set out to achieve, demonstrating excellent performance with an easy-to-use agent. As NeoCast continues through its robust clinical research program, we're excited about the potential impact for patients and physicians across a range of neurovascular and peripheral indications,' said Upma Sharma, CEO of Arsenal Medical. About the EMBO-02 Study The EMBO-02 study (ACTRN12624000659505) is an open-label, multicenter, prospective, externally monitored, core lab adjudicated, feasibility clinical trial. The primary safety endpoint is device-related disabling stroke or neurological death within 30 days of embolization. The primary feasibility endpoint is the successful injection of NeoCast, resulting in complete occlusion at, or distal to, the point of injection. About NeoCast™ NeoCast™ is a next-generation, solvent-free, non-adhesive liquid embolic biomaterial designed to preferentially reach distal microvasculature without inducing pain. Developed, in part, with funding from the National Cancer Institute, NeoCast leverages shear-thinning science to reach the smallest vessels and halt blood flow to tumors and injured or diseased tissues. NeoCast was designed without the use of harsh solvents and adhesives that are found in prior generation liquid embolic materials, the incorporation of which can lead to patient pain. Its unique material characteristics have been formulated to deliver enhanced control during injection. NeoCast previously demonstrated safety and feasibility in the preoperative embolization of hypervascular brain tumors in EMBO-01. About Arsenal Medical Arsenal Medical is a clinical-stage company that creates innovative biomaterials to solve challenging and underserved medical problems. Its lead products target neurovascular and trauma conditions. The company was founded by academic luminaries Robert Langer and George Whitesides, along with serial entrepreneur-investor Carmichael Roberts, who shared a vision for how materials can transform medical devices.
Scottish Sun
26-05-2025
- General
- Scottish Sun
Huge fire rips through nine-bed mansion on millionaire's row reducing home to ashes in Bank Holiday horror
London Fire Brigade are still probing the cause of the fire MANSION BLAZE Huge fire rips through nine-bed mansion on millionaire's row reducing home to ashes in Bank Holiday horror Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MANSION on London's luxurious Millionaires' Row has burned to the ground in a horror blaze. Firefighters battled the flames engulfing Hollybush House in Barnet, north London, after the alarm was raised in the early hours of this morning. Sign up for Scottish Sun newsletter Sign up 2 The main building consists of a drawing room, library, kitchen, dining room, sitting room, art room, and six bedrooms Credit: Facebook / Tim Phillips Fire tore through the nine-bedroom 18th Century Grade II-listed mansion at around 1am. The London Fire Brigade sent 10 fire engines and more than 70 firefighters to tackle the raging inferno. It took several hours before the fire was brought under control. The cause of the fire is still unknown and it has not been confirmed whether anyone was injured. London Fire Brigade said: "Ten fire engines and around 70 firefighters are tackling a fire at a house on Hadley Green Road in Barnet. "The whole of the roof, as well as most of the first floor and half of the ground floor of the property are alight. "The Brigade's Control Officers took the first of seven calls to the fire at 0110 and mobilised crews from Southgate, Barnet, Finchley and surrounding fire stations to the scene. "The cause of the fire is not known at this time." Hollybush House was built in the late 1700s and sprawls across 9,300 sq ft, including an attached cottage, on just over two acres of land. The main building consists of a drawing room, library, kitchen, dining room, sitting room, art room, and six bedrooms. Hadley Green Road has been dubbed as Millionaires' Row because properties are known to go for seven figure price tags. The Met Police and London Fire Brigade have been contacted for comment. 2 Hollybush House in Barnet, was engulfed in flames last night More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at and follow us from our main Twitter account at @TheSun.
Yahoo
12-05-2025
- Business
- Yahoo
ULH Q1 Earnings Call: Universal Logistics Addresses Soft Freight Market and Eyes Automotive Recovery
Transportation and logistics solutions provider Universal Logistics (NASDAQ:ULH) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 22.3% year on year to $382.4 million. Its non-GAAP profit of $0.23 per share was 52.1% below analysts' consensus estimates. Is now the time to buy ULH? Find out in our full research report (it's free). Revenue: $382.4 million vs analyst estimates of $400.6 million (22.3% year-on-year decline, 4.5% miss) Adjusted EPS: $0.23 vs analyst expectations of $0.48 (52.1% miss) Adjusted EBITDA: $51.75 million vs analyst estimates of $64.1 million (13.5% margin, 19.3% miss) Operating Margin: 4.1%, down from 15.7% in the same quarter last year Market Capitalization: $613.7 million Universal Logistics faced a challenging first quarter, with management attributing sluggish results to weak freight demand and a pronounced slowdown in its core automotive vertical early in the period. CEO Tim Phillips noted that auto production volumes improved as the quarter progressed, yet the absence of a large specialty project from the prior year pressured results. The company also highlighted the integration of its Parsec acquisition and the ongoing transformation of its intermodal segment, which experienced operating losses due to lower volumes and rates. Looking ahead, Universal Logistics is focused on stabilizing its core businesses and capitalizing on anticipated increases in automotive production in the second half of the year. Management expressed cautious optimism, citing strong customer engagement and new contract launches expected to add $50 million in annual revenue at historical margins. CFO Jude Beres emphasized that, excluding potential tariff impacts, the company projects improved margins and revenue in the coming quarters, reflecting management's expectation for a more favorable operating environment. Universal Logistics' first quarter results were shaped by a combination of subdued freight market activity and the completion of a one-time development project, with management pointing to automotive sector trends and ongoing strategic initiatives as key factors impacting performance. Automotive Segment Volatility: The automotive sector, Universal's largest vertical, saw a slow start in January but rebounded in February and March. Management attributed the initial weakness to low production volumes, followed by a marked improvement as auto plants ramped up activity. Contract Logistics Focus: The contract logistics segment remained a cornerstone of the business, delivering a 9.3% operating margin despite missing last year's specialty project revenue. Management noted strong customer interest and anticipated $50 million in incremental annual revenue from three new program launches in the second quarter. Parsec Acquisition Integration: The integration of Parsec, an operator of rail terminal and value-added services, continued this quarter, contributing $56.4 million in segment revenue. Universal now operates 87 value-added programs, up from 71 last year, expanding its service footprint and customer reach. Intermodal Segment Struggles: Intermodal operations posted an operating loss, impacted by lower volumes and pricing, as well as a $1 million employment-related charge. Management indicated efforts are underway to stabilize this business, including the deployment of a new sales team and a focus on leaner operations. Tariff-Related Uncertainty: Management is closely monitoring the potential impact of tariffs on customers, especially in automotive and manufacturing. They are proactively consulting with clients to mitigate disruptions, offering contingency planning and leveraging Universal's geographic network near key ports and rail hubs. Management's outlook for the remainder of the year is shaped by expectations for a rebound in automotive production, continued optimization of acquired businesses, and careful navigation of external risks such as tariffs. Automotive Recovery Momentum: Universal expects increased auto production at key customer facilities in the second half of the year, which could support higher logistics volumes and improved margins if supply chain stability persists. Cost Control and Operational Efficiency: The company is prioritizing expense management and lean operations, particularly within underperforming segments like intermodal, as a pathway to restore profitability and margin expansion. Tariff and Supply Chain Risks: Ongoing uncertainty around tariffs poses a risk to freight demand and customer sourcing strategies. Management is actively engaging with clients to provide warehousing and contingency solutions, but acknowledges that sudden shifts in import volumes could impact results. Andrew Cox (Stifel): Asked how auto OEM volumes and customer conversations have trended since the quarter end; management reported a slow start in January but described a strong rebound in February and March, with OEMs signaling stable production plans barring tariff disruptions. Andrew Cox (Stifel): Inquired about broader customer sentiment and whether a "wait-and-see approach" is impacting demand; CEO Tim Phillips confirmed customers are cautious, particularly due to tariff uncertainty, but Universal is positioned to offer flexible storage and logistics solutions. Andrew Cox (Stifel): Sought clarity on Universal's geographic reach for warehousing and intermodal services; management highlighted a national footprint spanning major coastal ports and key inland rail hubs, positioning the company to adapt to changing supply chain needs. Andrew Cox (Stifel): Asked about scenarios considered for a potential drop in import volumes due to tariffs; CFO Jude Beres referenced external forecasts of up to a 15% decline in imports, noting the company is monitoring developments and adjusting intermodal planning accordingly. Andrew Cox (Stifel): Queried about trends in the flatbed and heavy haul segment; management noted expansion in heavy haul wind operations but described flatbed activity as relatively stable without significant rate increases so far this year. In future quarters, the StockStory team will be watching (1) whether automotive logistics volumes continue to recover as forecasted, (2) sustained progress in integrating Parsec and ramping up new contract launches, and (3) the company's ability to manage margin pressures in its intermodal segment. We will also track responses to evolving tariff policies and Universal's execution on cost control initiatives as additional determinants of operating performance. Universal Logistics currently trades at a forward P/E ratio of 7.4×. Should you load up, cash out, or stay put? The answer lies in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). 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