Universal Logistics sees Q3 EPS 16c-20c, consensus 29c
Sees Q3 revenue $260M-$270M, consensus $274M. "Although we do see some bright spots, the global macro headwinds facing our businesses continue to be a significant drag on our earnings," stated Universal's Chief Executive Officer, Jeff Rogers. "This is particularly true in our value-added operations supporting the heavy-truck market. We expect these operations to break-even in the month of September 2016; however, operating losses during the first two months of the quarter totaled $1.3M. This compares to operating income of $3.5M earned in in the third quarter of last year. Despite these challenges, we continue to grow our other value-added business at a fast pace, and we are very excited about future opportunities in our pipeline. We continue to focus on delivering superior service performance for our customers and we are tightly managing our cost as we weather a very difficult environment."