YRC Reports Lower 2Q Profit
YRC Worldwide said late Thursday its second-quarter net earnings were $36.3 million, or 62 cents a share, down from a profit of $55.4 million, or 95 cents, a year ago.
Revenue slipped to $2.4 billion from $2.5 billion last year, the less-than-truckload carrier said in a statement.
Its YRC National Transportation unit’s LTL revenue per hundredweight rose 8.2% from a year ago. Tonnage per day was down 9.9%, while revenue was flat at $1.7 billion.
The YRC Regional Transportation unit’s LTL revenue per hundredweight gained 6.1% from last year. Tonnage per day was down 17.6%, while revenue fell 11.7% to $533 million.
YRC said it expects to earn between $1.05 and $1.15 per share in the third quarter, including a 70-cent per-share gain and increased union health and pension costs of about 15 cents per share.
YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
