YRC Confirms Positive Trend for Second Quarter

YRC Worldwide said Monday that it would achieve positive earnings before interest, taxes, depreciation and amortization in the second quarter and that its volumes were improving in June.

And the company may sell some business lines or assets to raise cash, Bloomberg reported, citing analysts.

“We continue to see positive developments in our business as our June volume trends are exceeding” May, said Chairman and Chief Executive Officer Bill Zollars.

“With the operating momentum we are experiencing, we are confident in our ability to generate positive adjusted EBITDA in the second quarter,” he said in a statement.

The less-than-truckload carrier also said it was:

• Implementing further cost actions and efficiency improvements;

• Seeking additional and return business from customers’

• Engaging in discussions with the company's lending group under its credit agreement;

• Pursuing the sale of non-strategic assets or business lines;

• Actively managing receipts and disbursements, including amounts and timing, focusing on reducing day’s sales outstanding and managing day’s payables outstanding; and

• Considering the sale of additional equity or pursuing other capital market transactions

YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.