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YRC Worldwide Cuts Y/Y Net Loss by $10.2M

OVERLAND PARK, KS — Trucking giant YRC Worldwide has cut its second-quarter net loss from $15.1 million last year to $4.9 million in Q2 2014.

During the time revenue increased six percent to $1.32 billion from $1.24 billion.

"During the second quarter of 2014, YRC Freight experienced a 5.6-percent increase in operating revenue [$842.1 million]," said YRC Worldwide CEO James Welch. "The additional revenue is due to increased volumes as well as a slight gain in revenue per hundredweight.”

YRC has been financially troubled for a while and in February 2014 successfully completed the company refinancing and modified its labor agreement

Welch said the growth in shipments and tonnage per day for the national less-than-truckload carrier is a result of the overall economic improvement and renewed shipper confidence.

"In order to improve network performance during the quarter, we opened three terminals, increased the use of purchased transportation and increased the utilization of part-time dock employees," said Darren Hawkins, YRC Freight president.

"Overall, the freight environment in which we are currently operating bodes well for YRC Freight,” Hawkins said. “From a macro perspective, we are experiencing a robust pricing environment, and at YRC Freight specifically we are being disciplined in obtaining pricing increases on lower margin accounts."

Kansas-based YRC Worldwide is the parent company for trucking companies YRC Freight, , Holland, Reddaway, New Penn and Winnipeg-based YRC Reimer (formerly named Reimer Express), which ranks 31 on Today’s Trucking’s top 100 fleets

 

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