YRC’s Third-Quarter Profit Slips
YRC Worldwide said late Thursday its third-quarter profit slipped to $36.6 million, or 63 cents a share, from $40.7 million, or 70 cents, a year ago.
Revenue declined to $2.38 billion from $2.46 billion a year ago, the less-than-truckload carrier said in a statement.
Its YRC National Transportation unit’s LTL revenue per hundredweight rose 6.3%, while tonnage per day fell 9%. Operating income fell 31.1% to $62.2 million.
The YRC Regional Transportation unit’s LTL revenue per hundredweight gained 5.3% and tonnage per day fell 17.2%. Operating income rose to $1.7 million, from $531,000 a year ago.
YRC’s logistics unit’s operating income rose 66.4% to $7 million, while its truckload unit lost $1.4 million, trimming a loss of $1.8 million a year ago.
Due to the uncertainty in the economy, YRC said it would not provide earnings guidance for the fourth quarter, Chairman and Chief Executive Officer Bill Zollars said in a statement.
YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
