Stock Monitor: Knight-Swift Transportation Holdings Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 06, 2018 / Active-Investors.com has just released a free research report on Universal Logistics Holdings, Inc. (NASDAQ: ULH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ULH as the Company's latest news hit the wire. On February 02, 2018, the Company, a leading provider of customized transportation and logistics solutions throughout the United States, Mexico, Canada, and Colombia, announced the acquisition of Fore Transportation, Inc., a leading provider of intermodal logistics solutions, including local and regional drayage services, yard services, chassis rental, repair and maintenance. Fore Transportation currently operates over 150 trucks and reported total operating revenues of about $32.3 million for the full-year ended December 31, 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Knight-Swift Transportation Holdings Inc. (NYSE: KNX), which also belongs to the Services sector as the Company Universal Logistics Holdings. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Universal Logistics Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Under the terms of the agreement, Universal Logistics announced that the Chicago-area operations of Fore Transportation include a 28-acre terminal strategically located, north of interstate I-80, and adjacent to the Canadian National Railroad. While the location serves as the Company's corporate headquarters, the property also provides 24/7 secured trailer and computer storage for 1,100 units, cross-docking capabilities, maintenance and repair, and refrigerated-unit fueling services.
Universal Logistics stated that the purchase price for the transaction was $34.9 million, paid in cash, and was subject to customary post-closing adjustments. In order to fund the acquisition, Universal stated that it used available cash and borrowed about $31.3 million to purchase Fore Transportation. According to Universal Logistics, the amount was borrowed using its margin credit facility, revolving credit facility, and secured real estate financing.
Universal Logistics views this acquisition as a step to expand its presence in the Chicagoland intermodal trucking market. The acquisition, according to Universal Logistics, would enable it to gain a greater market share in the region, and deliver expanded services to Fore's existing blue-chip customer base. Universal Logistics currently delivers a broad array of services to its customers, including services like truckload, brokerage, dedicated, intermodal, and value-added services.
Company Growth Prospects
Prior to the announcement, on October 26, 2017, Universal Logistics reported its Q3 FY17 results where the Company observed net loss of $3.3 million, on total operating revenues of $313.0 million, where in Q3 FY16, Universal Logistics observed net income of $5.0 million. The Company observed operating revenues from truckload services to advance by $10.7 million, or 14.8%, to $82.8 million compared to $72.1 million in Q3 FY16. The Company's operating loss of $3.5 million included the $17.4 million in accruals made for ongoing litigation compared to income from operations of $10.0 million in Q3 FY16.
Universal Logistics CEO, Jeff Rogers, stated that despite the unfavorable developments in a personal injury lawsuit, the Company exceeded its own expectations on revenues and results. The outlook across almost all of the Company's end-markets was strong, particularly in support of North American Class 8 production. As of September 30, 2017, Universal Logistics held cash and cash equivalents totaling $2.9 million and $14.6 million in marketable securities.
Stock Performance Snapshot
February 05, 2018 - At Monday's closing bell, Universal Logistics' stock dropped 1.53%, ending the trading session at $22.55.
Volume traded for the day: 25.61 thousand shares.
Stock performance in the last three-month – up 1.81%; previous six-month period – up 56.60%; and past twelve-month period – up 54.98%
After yesterday's close, Universal Logistics' market cap was at $661.17 million.
Price to Earnings (P/E) ratio was at 98.90.
The stock has a dividend yield of 1.24%.
The stock is part of the Services sector, categorized under the Trucking industry.
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