YRC Worldwide

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.

The U.S. government entered the $46 billion less-than-truckload (LTL) industry by effectively purchasing 30% of financially troubled LTL giant YRC Worldwide in exchange for a badly needed $700 million cash infusion.

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 Freight Regional Next-Day Texas service will now include Fort Worth and Garland, with company officials noting that this service expansion marks the most recent step in the YRCW enterprise network optimization strategy.

A recovering industrial economy, “improving” inventory levels and higher rate forecasts buoy top LTL carrier optimism for 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.

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 Freight said that it has introduced a new next-day service entitled YRC Freight Regional Next-Day Texas, that moves freight within Texas on a next-day basis.

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 reported consolidated operating revenue for first quarter of $1.182 billion and a consolidated operating loss of $31.7 million, which included a $1.6 million net loss on property disposals. By comparison in the year-ago quarter, YRC posted operating revenue of $1.215 billion and consolidated operating loss of $4.3 million. That loss included a $3.2 million net loss on property disposals.

As baseball season is upon us, negotiators for the Teamsters and YRC Freight units are in the bottom of the ninth inning in their attempt to nail down a new five-year labor contract. Both labor and management are under strong pressure to hit a home run in the YRC talks. The Teamsters would like to restore a 15 percent wage and 75 percent cut in pension concessions made a decade ago in order to lay claim to what Teamsters President James P. �...

The era of driverless trucks – or autonomous vehicles, as they are known euphemistically – may be a lot closer to reality than many people think.

Shippers should expect rate increases in the 3 percent to 5 percent range, higher in some geographic lanes, depending on a shipper’s individual freight profile with its carriers.

In a year that was replete with labor-related and financing issues, less-than-truckload (LTL) transportation services provider YRC Worldwide reported relatively solid earnings for the fourth quarter and 2013 year-end.

YRC Worldwide, in a major refinancing aimed at lowering its annual interest payments and increasing liquidity for badly needed recapitalization, has refinanced approximately $1.1 billion in debt under much more favorable terms for the 90-year-old trucking company.