YRC to Take 2Q Charges; Affirms Core Earnings Outlook

YRC Worldwide late Tuesday reaffirmed its core second-quarter earnings guidance, but said its financial statement would include some special charges.

YRC said its second-quarter earnings would be 55 to 65 cents per share and will include curtailment gains of 34 cents a share and a significant accident charge of 9 cents a share.

Excluding the charges, earning from core operations will be consistent with the company’s previously issued guidance of 30 to 40 per share, the company said.

The curtailment gains relate to changes in retirement plans as the company “continues its progress toward a common employee benefits platform across its operating units,” YRC said.

“Our operational execution has been strong, and we are building momentum in spite of the challenging environment,” said YRC Chairman and Chief Executive Officer Bill Zollars.

“The cost of fuel creates macroeconomic concerns as we look forward. However, of those areas within our control, we remain confident that we are on the right track to enhance customer value . . . [and] increase the efficiency and profitability of the Regional companies and execute solidly at YRC Logistics,” Zollars said in a statement.

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