UNIVERSAL LOGISTICS HOLDINGS, INC. (ULH) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Intermodal				390.3	251.1
Company-managed Brokerage				215.8	225.6
Contract Logistics				515.2	529.2
Trucking				389.6	454.3
Other				1.1	1.5
Total revenues	2,015.5	1,751.0	1,391.1	1,512.0	1,461.7	1,216.7	1,072.8	1,128.8
Revenue growth [+]	15.1%	25.9%	-8.0%	3.4%	20.1%	13.4%	-5.0%	-5.3%
Intermodal				55.5%
Company-managed Brokerage				-4.3%
Contract Logistics				-2.7%
Trucking				-14.2%
Transportation						14.3%	-9.0%	-7.3%
Cost of goods sold [+]	691.3	553.5	405.5	609.8	599.9	522.5	451.6	449.5
Labor costs	522.7	456.6	337.6	368.2	354.7	314.4	265.3	222.5
Sales commissions and fees				31.2	37.4	33.2	32.4	37.8
Other direct costs				120.8	122.7	115.4	103.0	113.5
Gross profit	1,324.2	1,197.4	985.6	902.2	861.8	694.2	621.2	679.2
Gross margin	65.7%	68.4%	70.8%	59.7%	59.0%	57.1%	57.9%	60.2%
Selling, general and administrative [+]	1,775.0	1,648.0	1,310.7	44.5	31.5	31.5	47.1	52.1
General and administrative [+]				44.5	31.5	31.5	47.1	52.1
General and administrative expenses				44.5	31.5	31.5	29.4	30.7
Insurance expense							17.7	21.4
Other selling, general and administrative
Other operating expenses				717.5	692.1	590.4	490.8	518.9
EBITDA [+]	-374.2	-383.0	-251.0	140.1	138.2	72.2	83.3	108.3
EBITDA growth	-2.3%	52.6%	-279.1%	1.4%	91.4%	-13.3%	-23.1%	-5.0%
EBITDA margin	-18.6%	-21.9%	-18.0%	9.3%	9.5%	5.9%	7.8%	9.6%
Depreciation	62.3	53.6	58.9	59.1	48.7	41.0	29.2	25.7
EBITA	-436.4	-436.7	-310.0	81.1	89.5	31.2	54.1	82.6
EBITA margin	-21.7%	-24.9%	-22.3%	5.4%	6.1%	2.6%	5.0%	7.3%
Amortization of intangibles	14.4	13.9	15.2	15.7	5.7	6.0	7.5	9.2
EBIT [+]	-450.8	-450.6	-325.2	65.4	83.8	25.2	46.6	73.4
EBIT growth	0.1%	38.6%	-597.3%	-22.0%	232.3%	-45.9%	-36.5%	-9.3%
EBIT margin	-22.4%	-25.7%	-23.4%	4.3%	5.7%	2.1%	4.3%	6.5%
Non-recurring items								0.0
Interest expense, net [+]				17.0	14.6	9.4	8.1	9.2
Interest expense				17.1	14.7	9.5	8.3	9.2
Interest income				0.1	0.1	0.1	0.2	0.1
Other income (expense), net	676.2	549.2	389.1	1.8	0.2	1.4	0.9	0.8
Pre-tax income	225.4	98.6	63.9	50.2	69.4	17.1	39.4	65.0
Income taxes	56.8	24.8	15.8	12.6	17.2	-11.0	15.2	25.0
Tax rate	25.2%	25.2%	24.7%	25.1%	24.8%		38.5%	38.5%
Net income	168.6	73.7	48.1	37.6	52.2	28.2	24.2	40.0
Net margin	8.4%	4.2%	3.5%	2.5%	3.6%	2.3%	2.3%	3.5%

Basic EPS [+]	$6.37	$2.74	$1.78	$1.34	$1.84	$0.99	$0.85	$1.37
Growth	132.6%	53.6%	33.1%	-27.2%	85.6%	16.1%	-37.6%	-9.5%
Diluted EPS [+]	$6.37	$2.74	$1.78	$1.34	$1.84	$0.99	$0.85	$1.37
Growth	132.5%	53.6%	33.1%	-27.1%	85.6%	16.1%	-37.6%	-9.4%

Dividends per share [+]	$0.42	$0.42	$0.21	$0.42	$0.53	$0.28	$0.28	$0.28
Growth	0.0%	100.0%	-50.0%	-20.8%	89.3%	0.0%	0.0%	0.0%

Shares outstanding (basic) [+]	26.5	26.9	27.0	28.1	28.4	28.4	28.4	29.2
Growth	-1.7%	-0.3%	-3.8%	-1.1%	-0.1%	0.0%	-2.8%	-2.6%
Shares outstanding (diluted) [+]	26.5	26.9	27.0	28.1	28.4	28.4	28.4	29.2
Growth	-1.6%	-0.3%	-3.8%	-1.1%	-0.1%	0.1%	-2.8%	-2.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.