Filing Flows › Universal Logistics Holdings (ULH) › Q3 2025
Universal Logistics Holdings (ULH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Universal Logistics Holdings (ULH) reported revenue of $397M for the third quarter 2025 (Q3 2025), -7% from a year earlier and +0.8% from the quarter before. Operating margin was -29.6%, net loss $118M (29.7% of revenue).
Universal Logistics Holdings, Q3 2025: revenue $397M (-7% year over year), operating margin -29.6%, net loss $118M, operating cash flow $25.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $397M | +0.8% | -7% |
| Operating profit | −$117M | -690% | — |
| Net earnings | −$118M | -1518% | — |
| Operating cash flow | $25.9M | +0.7% | +318% |
What changed
Revenue was $396.8M in Q3 2025, down 7% year over year and up 1% from the previous quarter. Value Added Services was the largest line at 45% of revenue. Brokerage Services lost $24.4M year over year (down 58%), 81% of the total change.
Operating costs exceeded revenue by $117.4M, an operating margin of -29.6%. Total costs grew 34% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+35%). The quarter ended with a net loss of $117.9M, after a profit of $8.3M the previous quarter.
Operating cash flow was $25.9M (up 318% year over year). Non-cash charges added back $35.5M of depreciation and amortization and $9K of share-based compensation. Working capital and other items added $108.3M. Capital expenditures of $54.5M exceeded it, leaving free cash flow of −$28.6M.
Questions
What was Universal Logistics Holdings' revenue in the third quarter 2025?
Universal Logistics Holdings (ULH) reported revenue of $397M for the third quarter 2025 (Q3 2025), -7% from a year earlier and +0.8% from the quarter before.
Was Universal Logistics Holdings profitable in the third quarter 2025?
Operating loss was $117M (-29.6% of revenue) and net loss $118M.