YRC

Yellow, which controls 10% of the $46 billion less-than-truckload (LTL) marketplace, narrowed its loss in first quarter to $27.5 million from $63.3 million in the year-ago first quarter. That came on operating revenue of $1.26 billion, compared with $1.198 billion in the year-ago first quarter.

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 Worldwide, a holding company that collectively controls about 10% of the $46 billion less-than-truckload (LTL) marketplace, is trimming its quarterly losses and going back to its branding roots. It is resurrecting the venerable “Yellow” brand.

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.

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.

The first economic shock waves of the COVID-19 pandemic have started to wash across the first quarter earnings reports of the leading publicly held less-than-truckload (LTL) carriers, with more bad news coming later in the year.

YRC earned $4.3 million on $1.15 billion revenue in the first quarter, compared with a net loss of $49.1 million on $1.18 billion revenue in the year-ago quarter. Without the asset sales, however, YRC would have suffered a $35 million pre-tax loss.

Financially struggling YRC Worldwide, which collectively represents the second-largest group of carriers in the $43 billion less-than-truckload (LTL) sector, will benefit from closings and reduced capacity in the $340 billion full truckload (TL) market, analysts and top YRC officials are telling Logistics Management.

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, still struggling to find its financial footing in one of the best freight environments in a generation, is trying to cut its way back to prosperity. The less-than-truckload giant is shuttering the Lebanon, Pa., administrative headquarters of regional LTL subsidiary New Penn and consolidating those operations at its Overland Park, Kan., corporate headquarters.

When looking at the many challenges that come into play for companies competing in, or looking to enter, the last-mile logistics delivery market, there are more than a few direct challenges, to say the least, especially for those in the less-than-truckload (LTL) market.

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.

YRC Worldwide, which controls the fourth- and eighth-largest less-than-truckload (LTL) units with its long-haul and regional trucking companies, is offering an early peak into its operating results for the fourth quarter 2018.

YRC Worldwide, which controls the fourth- and eighth-largest LTL companies with its long-haul YRC Freight and YRC Regional units, is embarking on what could be a make-or-break contract with its 24,000 Teamsters union. Because YRC has struggled to regain profitability following its decision to buy rival Roadway Express in a debt-laden $1.1 billion transaction in 2003, any significant change in either units’ wage structure or fringe benefits could trigger another downturn for the Overland Park, Kan.-based company.

YRC Freight, the company’s largest operating unit, saw tonnage per day in October fall around 7.1% annually, with November tonnage per day down around 1.4% annually.