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YRC Worldwide's continued improvement driven by regional trucking

By - Last modified: February 8, 2013 at 10:52 AM

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YRC Worldwide Inc., the Kansas-based trucking conglomerate, continues to improve its quarterly and annual performances driven largely by its restructuring and regional trucking companies, such as Lebanon-based New Penn Motor Express Inc.

The company’s regional transportation division posted fourth-quarter operating revenue of $391 million, a 2.5 percent gain from a year ago, while the segment’s operating income was $70 million, YRC said today.

For all of 2012, the regional trucking companies posted operating revenue of $1.6 billion, or 5.6 percent more than a year ago, with revenue per shipment growing by 4.2 percent, it said.

“I’m very proud of the accomplishments of the Holland, Reddaway and New Penn teams,” YRC CEO James Welch said in a statement.

YRC’s operating income was $30 million in the fourth quarter and $24 million for the year, both substantial turnarounds from losses a year ago.

However, the company is dealing with large debt issues. Its interest expenses alone were $39 million for the quarter and nearly $151 million for the year, giving YRC a net quarterly loss of $35 million and an annual loss of nearly $137 million. Still, those losses were cut by 59 percent and 61 percent, respectively.

YRC spent the last several years restructuring its debt and labor agreements, as well as bringing in a new management team in 2012.

The company’s quarterly loss per share was $4.53, while analysts had estimated a loss of $2.82, according to Yahoo Finance.

The company trades its shares on the Nasdaq under the ticker symbol YRCW.

 

Jim T. Ryan

Jim T. Ryan

Jim T. Ryan covers Cumberland County, manufacturing, distribution, transportation and logistics. Have a tip or question for him? Email him at jimr@cpbj.com. Follow him on Twitter, @JimTRyanCPBJ.

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