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YRC Worldwide Expects Positive Earnings in Second Quarter

April 09, 2010

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Less-than-truckload giant YRC Worldwide said it expects a stronger second quarter, with positive earnings before interest, taxes, depreciation and amortization in the pipeline.
YRC said first quarter shipments were impacted by the extensions of its note exchange and severe winter weather.
YRC said first quarter shipments were impacted by  the extensions of its note exchange and severe winter weather.


Following the release of preliminary shipment data for the first quarter, YRC Chairman and CEO Bill Zollars said the company has "even more confidence" for earnings in the second quarter.

"We appreciate the confidence our customers continue to demonstrate through increasing volume levels and returning their business to us, and we are pleased with the progress we continue to make on increasing shipments while simultaneously reducing costs," said Zollars. "With the improved operating momentum we achieved as we exited the seasonally slowest quarter of the year, we have even more confidence in our ability to generate positive EBITDA beginning with the second quarter of 2010."

For the first quarter of 2010, total shipments per workday were about 42,700 for YRC National and 33,700 for YRC Regional. The company said shipments in late December and early January were impacted by the extensions of its note exchange, while severe winter weather in January and February also hindered growth.

YRC will release its first quarter earnings report on May 4.



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