YRC Worldwide Friday reported positive first-quarter operating income, the first time it has reported a first-quarter operating profit in six years.
Operating income was $9.9 million, turning around an operating loss of $48.8 million a year ago, the less-than-truckload carrier said in a statement.
Its adjusted earnings before interest, taxes, depreciation and amortization were $60.7 million, compared with $15.3 million in adjusted EBITDA a year ago.
“Despite more difficult winter weather conditions in the first quarter of 2013 as compared to an unusually mild winter in 2012, our year-over-year operating results continue to improve,” CEO James Welch said in a statement.
YRC Freight’s revenue slipped 4.5% to $758.3 million as tonnage declined 5.4%, and YRC Regional Transportation’s revenue rose 1.7% to $408.7 million, with tonnage up 1.9%.
Last week, the Teamsters union approved YRC’s plan to streamline terminals and cut some jobs at YRC Freight, which the company said would save it about $30 million.