YRC Swings to Third-Quarter Profit
YRC Worldwide reported a third-quarter profit as its operating costs declined, the less-than-truckload carrier said Friday.
Net income was $3.1 million, or 40 cents a share, compared with loss of $122.6 million, or $153.74 per share, a year ago. Revenue slipped 3.1% to $1.24 billion.
Its YRC Freight trucking unit recorded positive operating income for the first time in four years, with the exception of the 2010 second quarter which included a special charge, CEO James Welch said in a statement.
YRC Freight’s operating income was $2.8 million excluding interest and taxes, compared with a $16.7 million loss a year ago. Revenue declined 2.6% to $819.5 million.
YRC Regional Transportation’s operating income rose to $27.2 million from $12.4 million, and revenue rose 3.1% to $417.3 million.
YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
