YRC Freight rolls out new regional next-day services for mid-South and into Waco, Texas
Earlier this week, trucking giant YRC Worldwide (YRCW) said that its subsidiary, YRC Freight, the fourth largest less-than-truckload (LTL) carrier, has expanded its Regional Next-Day Service to the mid-South region and also into Waco, Texas.
The company said that offering up more two-day lanes between the mid-South and Texas serves as the most recent example of YRC’s enterprise network optimization strategy.
YRC Freight’s network optimization plan was originally implemented in May 2013. Company officials said the plan’s focus centers on enhancing efficiencies by increasing network density, reducing shipment touches, and reducing the number of empty miles.
Company officials said that the Regional Next-Day service in Texas connects 11 statewide terminals providing best-in-class service. In the mid-South, the company said that Little Rock and Springdale, Ark.; Springfield, Mo.; Tulsa and Oklahoma City, Okla.; Shreveport, La.; Memphis, Tenn.; Jackson, Miss. and Texarkana, Tex. will be connected through YRC Freight’s network and Regional Next-Day service offering. And they added that shipper customers will now have access to faster transit times and more streamlined supply chains, along with fewer damages due to less freight handling.
What’s more, YRCW noted that YRC Freight is at or above best-in-class LTL sector competitors, with a 98.5% on-time performance and a 0.13% claims ratio.
“Through Regional Next-Day service, our customers in Texas and the mid-South can access just-in-time scheduling that offers benefits of lowered inventory cost and fewer supply chain interruptions,” said Scott Ware, YRC Freight Chief Network Officer, in a statement. “Results have been very successful since we launched Regional Next-Day service in Texas last fall, and it’s exciting to be expanding the service in six new states.”
YRC lost $37.1 million in the second quarter on revenue of $1.015 billion, compared with a $23.6 million loss on $1.273 billion in the year-ago second quarter. Operating loss was $4.6 million, which included a $6 million net gain on property disposals. By comparison, operating revenue in the second quarter of 2019 was $1.273 billion and operating income was $14.3 million, which included a $6.2 million net gain on property disposals.
The consolidated operating ratio for the quarter of 100.5 compared to 98.9 in 2Q19. LTL revenue per hundredweight including fuel surcharge decreased 5.7%.
But weight per shipment increased 1.4% resulting in LTL revenue per shipment decrease of 4.4% when compared to the same period in 2019. Excluding fuel surcharge, LTL revenue per hundredweight was down 2.6% and LTL revenue per shipment was down 1.2%. LTL tonnage per day decreased 14.8% when compared to 2Q19.
