Universal Logistics Holdings reported sharply weaker financial results for the fourth quarter of 2025, as declines across several transportation segments — particularly intermodal — weighed on the company’s earnings.

The Warren, Michigan-based logistics provider reported fourth-quarter operating revenue of $385.4 million, down from $465.1 million a year earlier, while net income fell to $3.7 million, or 14 cents per share, compared with $20.2 million, or 77 cents per share, in the fourth quarter of 2024.

Operating income also dropped significantly, falling to $17.5 million from $38.3 million a year earlier as operating margins compressed to 4.5% from 8.2%.

“The fourth quarter of 2025 yielded mixed results within our service portfolio,” CEO Tim Phillips said in a news release. “Our contract logistics and trucking segments performed in line with expectations, while underperformance in intermodal remained a meaningful headwind to our overall results.”

Universal’s contract logistics segment, which includes value-added and dedicated services, remained the company’s largest business line but still posted lower revenue.

Contract logistics generated $268.6 million in revenue, down 12.6% year over year from $307.4 million. The decline was partly due to the completion of a specialty development project in Stanton, Tennessee, that contributed more than $51 million in revenue in the prior-year quarter.

The segment recorded operating income of $23.2 million, compared with $39.1 million in the prior-year quarter.

Universal’s intermodal segment posted the steepest operational pressure, with revenue dropping to $52.7 million, down 27.9% from $73.1 million a year earlier.

Load volumes declined 19.1%, while pricing fell further, pushing the segment to an operating loss of $10.6 million, compared with a $9.7 million loss in the same quarter of 2024.

The company’s trucking segment reported revenue of $64.1 million, down 23.6% year over year from $83.8 million.

Within that segment, brokerage services revenue fell to $16.1 million, compared with $25.5 million a year earlier as shipment volumes declined.

Load volumes in the trucking segment fell 25.9% year over year, though revenue per load increased modestly.

Despite the weaker earnings, Universal’s board declared a quarterly dividend of 10.5 cents per share, payable April 3, to shareholders of record on March 23.

The company ended the quarter with $26.8 million in cash and cash equivalents and $802.3 million in outstanding debt.

Management said it continues focusing on cost reductions and operational efficiency initiatives as freight market conditions remain subdued.

-17.1%-23.6%-37.1%-27.9%-12.6%-81.8%

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Q4/2025

Q4/2024

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Universal Logistics key fourth-quarter performance indicators.

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