Logistics service providers Universal Logistics, USA Truck fall on weak profit

Universal Logistics Holdings (Nevada)

26/07/2019 18:18

** Shares of Universal Logistics Holdings Inc  ULH.O  fell
7.5% and those of USA Truck Inc  USAK.O  plunged 15% in early
afternoon trading 
    ** ULH misses Q2 earnings expectations, as revenues from
truckload services fell 21.6% YoY; co says it faced soft
trucking rates and volumes  urn:newsml:reuters.com:*:nPn8Hptxxa 
    ** ULH misses earnings estimate for the first time in six
quarters, per Refinitiv data 
    ** USAK also falls short of Q2 profit estimates, says co had
lower freight shipments and faced declining spot rates
 urn:newsml:reuters.com:*:nBw5FKqfRa 
    ** USAK misses profit expectations for the first time in at
least eight quarters - Refinitiv data 
    ** Shares of ULH have risen 11% this year, while those of
USAK have nearly halved in value YTD

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))