YRC Freight News & Resources
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State of LTL 2021: Bull market
March 8, 2021
Shippers need to brace for stiff rate increases as more disciplined carriers benefit from tight capacity, lack of drivers, new market concentration and mounting COVID-related demands.
Newly renamed Yellow Corp. cuts yearly loss in half to $53.5 million
February 4, 2021
Yellow is making progress toward profitability. It still suffered an $18.7 million loss in the 2020 fourth quarter, but cut its annual losses nearly in half to $53.5 million, compared with a $104 million loss in 2019. That latter figure included $11.2 million loss on extinguishment of debt associated with a refinancing of the Company’s term loan agreement.
Name change only the start of changes coming at Yellow Corp., subsidiaries
December 7, 2020
There are operational changes occurring at networks run by long-haul YRC Freight as well as regional subsidiaries New Penn (East), Holland (Central States) and Reddaway (West) and HNRY, its third-party logistics unit. The goal is to coordinate shipments better, and reduce transit times, Yellow CEO Darren Hawkins confirmed to LM.
YRC cuts quarterly loss to $2 million, going back to Yellow brand
November 3, 2020
Yellow’s finances have improved during the third quarter ended Sept. 30. Operating revenue was $1.183 billion and operating income was $19.4 million. In comparison, operating revenue in the third quarter of 2019 was $1.257 billion and operating income was $23.8 million, which included a $1 million net loss on property disposals.
YRC Freight rolls out new regional next-day services for mid-South and into Waco, Texas
August 6, 2020
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 Worldwide loss widens in Q2, but ‘a new day’ is on the way
August 6, 2020
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.
YRC’s $700 million lifeline changes LTL landscape for rival carriers, shippers
July 22, 2020
Trucking’s competitive dynamics changed mightily on July 1 with the U.S. government’s infusion of $700 million in a badly needed financial lifeline for ailing trucking giant YRC Worldwide. YRC companies control about 10% of the $46 billion less-than-truckload (LTL) market. Rival LTL carrier executives and YRC customers were stunned by what is the largest freight financial transportation assistance from the American government for a non-airline company.
YRCW releases Q1 operating metrics
March 16, 2020
YRCW officials said that as detailed in its most recent Form 10-K, as it progresses through its previously discussed enterprise transformation, “the company will be reporting its five brands, which were formerly reported as two segments, now as one company on a consolidated basis.”
YRC loss widens in 4Q, full year losses hit $104 million
February 5, 2020
YRC’s total revenue for last year fell 3.4% to $4.871 billion from $5.092 billion in 2018. YRC reported consolidated operating revenue for fourth quarter 2019 of $1.16 billion and consolidated operating income of $9.8 million. By comparison, in the fourth quarter 2018, YRC reported operating revenue of $1.247 billion and consolidated operating income of $55.1 million.
YRC dips into red ink in Q3, posting $16 million loss in quarter
October 31, 2019
After earning $2.9 million in the 2018 third quarter, YRC sustained a $16 million net loss in the most recent quarter. The quarterly loss was exacerbated by an $11.2 million loss on extinguishment of debt associated with a refinancing of the term loan agreement, which resulted in a negative impact of $0.34 cents per share for the third quarter 2019.
YRC Worldwide issues Q2 operating metrics through May
June 11, 2019
Overland Park, Kan.-based national less-than-truckload (LTL) transportation services provider YRC Worldwide, parent of the fourth- and seventh-largest trucking entities in the LTL sector, released some operating metrics for the first two months of the second quarter.
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