YRC’s 2Q Loss Narrows as Carrier Reports Operating Profit

YRC Worldwide said Tuesday its second-quarter loss narrowed as it reported positive operating income for the three-month period.

The less-than-truckload carrier’s net loss was $9.5 million, or 1 cent per share, compared with a loss of $309 million, or $5.20, a year ago.

Operating income was $48.3 million, compared with a $294.2 million operating loss for the same period last year, YRC said in a statement.

Its YRC National Transportation unit’s tons per day and shipments per day were down 18.6% from a year ago, while revenue per hundredweight and revenue per shipment were both up 3.9%.

Its YRC Regional Transportation unit’s tons per day rose 4.6% from last year, while shipments per day fell 3.1% and revenue per hundredweight declined 2.8%. Revenue per shipment rose 4.9%.

Compared with the first quarter, YRC National Transportation’s tons per day rose 11%, shipments per day rose 8% and revenue per shipment gained 0.9%.

YRC Regional Transportation’s tons per day up 15.5% compared with the first quarter, shipments per day rose 13.8%, and revenue per shipment improved 0.5%.

Its regional companies reported positive operating income and YRC National achieved positive adjusted earnings before interest, taxes, depreciation and amortization, said Bill Zollars, the company’s chairman and chief executive officer.

“With the significant operating momentum we achieved throughout the second quarter and experienced in July, the company is positioned for further growth and we expect to achieve positive adjusted EBITDA in the third quarter . . . in excess of the second quarter,” he said in a statement.

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