YRC Reports $45.9 Million 1Q Loss

YRC Worldwide reported a first-quarter loss of $45.9 million, or 81 cents a share, compared with earning $1.3 million, or 2 cents a share, a year ago.

Revenue slipped to $2.2 billion, from $2.3 billion, the less-than-truckload carrier said late Thursday.

The loss included charges of 13 cents per share on reorganization of its USF Holland and USF Reddaway units, and 2 cents on property charges, YRC said.

“The soft economy, severe winter weather and record fuel prices created a very difficult operating environment in the first quarter,” said YRC Chairman Chief Executive Officer Bill Zollars

“Despite the macroeconomic challenges that we are facing, we believe that we have turned the corner and expect meaningful earnings improvement starting with the current quarter,” he said in a statement.

Zollars had said last month that the company was likely to report a first-quarter loss. YRC said Thursday it would earn 30 to 40 cents per share in the second quarter.

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