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YRC Expects to Post Profitable Second Quarter

July 12, 2010

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Less-than-truckload giant YRC Worldwide said it expects to return to profitability with its second quarter results.
YRC should post better earnings and income for the second quarter of this year, the company says.
YRC should post better earnings and income for the second quarter of this year, the company says.
The company expects an operating income of $43 million to $53 million for the quarter ending June 30, compared to an operating income of $229 million in the first quarter 2010.

YRC's second quarter earnings before interest, taxes, depreciation and amortization should be between $35 million to $45 million, the company said, excluding the loss of shedding its YRC Logistics segment. Last month, YRC announced it would sell part of its logistics business to Austin Ventures, a private equity investor.

When the loss of discontinued operations is included, EBITDA is expected to range $24 million to $36 million. In the first quarter, the company posted a loss of $53 million.

The company's second quarter tonnage per day was 27,000 for YRC National and 26,900 for YRC Regional, 11 percent and 15.2 percent gains, respectively, from the first quarter.

At the end of June, YRC had $142 million in estimated cash and cash equivalents, $129 million in unused restricted revolver reserves, and $8 million in unrestricted availability, totaling $279 million. For the first quarter, this totaled $241 million.


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