Universal Logistics Holdings (NASDAQ: ULH) is a third-party logistics company that provides contract logistics, intermodal, and trucking services across North America. Revenue is transactional and fee-based, earned through value-added services, dedicated transportation, intermodal drayage, truckload, and brokerage. Value-added services were the largest revenue contributor at 45.7% of total operating revenues in FY2025, followed by dedicated services at 21.7%, intermodal services at 16.2%, truckload at 11.7%, and brokerage at 4.7%. Total operating revenues were approximately $1.56 billion in FY2025. The company operates through a mix of company-owned equipment, owner-operators, and agents, giving it a variable cost structure. As of December 31, 2025, ULH employed approximately 10,525 people in the United States, Mexico, and Canada. The automotive sector is a core end market. In September 2024, ULH acquired Parsec, LLC, adding terminal management services for Class I, regional, and short-line railroads. ULH recorded a $124.4 million impairment charge in FY2025 tied to its intermodal segment, resulting in a consolidated operating loss of $64.3 million. CEO is Tim Phillips; CFO is Jude Beres; Chairman is Matthew T. Moroun.

Revenue model

Transactional and fee-based revenue across three segments: contract logistics (value-added services and dedicated transportation), intermodal drayage, and trucking (truckload and brokerage). Revenue mix in FY2025: value-added services 45.7%, dedicated services 21.7%, intermodal services 16.2%, truckload 11.7%, brokerage 4.7%. Total operating revenues approximately $1.56 billion in FY2025.

Products and services

Value-added logistics services, dedicated transportation, intermodal drayage, truckload services, freight brokerage, and terminal management services for railroads (via Parsec, acquired September 2024). Equipment fleet as of December 31, 2025 included 3,589 tractors, 5,264 trailers, 3,570 chassis, 738 yard tractors, and 94 containers.

Customers and end markets

Automotive is identified as a core end market. Parsec serves Class I, regional, and short-line railroads across North America. The filing does not disclose specific customer names or revenue concentration percentages.

Value-chain role

Asset-light to moderate-asset third-party logistics provider sitting between shippers and carriers. Uses a combination of company-owned equipment, owner-operators, and agents to execute transportation and logistics services. Provides outsourced inbound and outbound logistics operations for manufacturing and industrial customers.

Geographic exposure

United States, Mexico, and Canada. Workforce of approximately 10,525 employees across these three countries as of December 31, 2025.

Source: SEC 10-K, filed 2026-03-16

Industry: Trucking (No Local) Peers: ArcBest Corp Covenant Logistics Group Inc Daseke, Inc. Heartland Express Inc Marten Transport Ltd PAMT Corp USA TRUCK INC TuSimple Holdings Inc. Uber Technologies Inc Werner Enterprises Inc