Universal Truckload Services announces 19% gain in third quarter revenue

Universal Truckload Services, Inc. has announced financial results for the third quarter and first nine months of 2011 ended October 1, 2011. In third quarter 2011, operating revenues increased 19.9%, to $187.5m from $156m, while profit from operations increased by 80.9% to $8.4m for third from $4.7m year-on-year.

Universal’s truckload revenue for third quarter 2011 increased by 16.8% to $110m from $95m in the corresponding period of 2010. Revenue from the company’s Brokerage division increased by 24.0% to $48.6m from $39.2m. Intermodal revenue increased by 25.9% to $28.1m from $22.3m.

For the first nine months of 2011, operating revenues increased 16.7%, to $525.1m from $449.8m and income from operations increased by 80.2%, to $18.4m.

Universal’s truckload revenue for the first nine months increased by 14.6% to $319.0m from $278.2m in the corresponding period of 2010. Brokerage increased by 19.9% to $127.6m from $106.3m. Intermodal revenue increased by 20.5% to $78.6m from $65.2m.

"In terms of earnings, third quarter has proved to be our best quarter of the year," stated Universal’s President and CEO Don Cochran. "Strong demand in all of our core businesses, compounded with continued rate improvements, has pushed revenues higher than we’ve seen in several quarters. We are also pleased with the progress and integration of our recent acquisitions, and look forward to their continued improved performance. Our agents, independent contractors and employees experienced the best conditions we have had in quite some time."

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