YRC is being accused of overcharging for shipments it hauled for the Department of Defense and then lying to the government to cover it up. YRC calls the claims "totally without merit."
Trucking company YRC Worldwide Inc. narrowed its first quarter loss but was still in the red, but it expects an improvement in its finances later in the year.
Trucking and logistics provider ArcBest reported third quarter numbers showing net income improved a little more than 14.5% to $14.8 million, or 56 cents per share, 2 cents below Wall Street expectations.
Financial losses for YRC Worldwide Inc., parent to both national and regional less-than-truckload carriers, more than doubled in the first quarter of the year despite a small upturn in revenue.
The parent of less-than-truckload carrier YRC Freight and others managed to reduce its losses in the final quarter of 2016 while a truckload carrier reported a loss for both the final three months of last year and all of 2016.
Earnings for the parent of the mainly less-than-truckload carrier YRC Freight and others turned in a smaller third quarter numbers late Thursday, while one logistics operator also reported its profit is down from a year ago.
The week wrapped up with more fleets reporting their second-quarter earnings. Like many that have already advised, profits for three were lower, while the largest trucking company in the nation and another a few years ago that was on the brink of extinction showed improvements.
UPDATED -- Another day, another raft of earnings reports on Thursday from the nation’s publicly owned trucking companies. Continuing a trend this first quarter, the companies' numbers are as varied as the services they offer.
YRC Freight is offering a new accelerated service with shipment times that are one or two days faster than standard shipment times.
XPO Logistics Freight is suing rival less-than-truckload carrier YRC Freight for allegedly hiring employees from the company in order to obtain important trade secrets.