YRC Worldwide Provides Quarter-To-Date Operating Data for Third Quarter 2019
September 12 2019 - 4:45PM
YRC Worldwide Inc. (NASDAQ: YRCW) reported certain operating
metrics for the first two months of third quarter 2019.
At YRC Freight, July 2019 less-than-truckload
(LTL) tonnage per day decreased approximately 3.3% compared to July
2018 and August 2019 LTL tonnage per day decreased approximately
3.6% compared to August 2018. Quarter-to-date through August 2019,
LTL revenue per hundredweight and LTL revenue per shipment
increased approximately 1.6% and 0.8%, respectively, compared to a
year ago.
At the Regional segment, July 2019 LTL tonnage per day decreased
approximately 1.5% compared to July 2018 and August 2019 LTL
tonnage per day decreased approximately 4.4% compared to August
2018. Quarter-to-date through August 2019, LTL revenue per
hundredweight decreased approximately 0.4% compared to a year ago.
LTL revenue per shipment remained flat when compared to last
year.
“Our pricing strategy remains disciplined even
with the softer overall economy,” said Darren Hawkins, chief
executive officer at YRC Worldwide. “The Regional LTL revenue
per hundredweight year over year results are being impacted by the
strong comparisons from prior year, in which LTL revenue per
hundredweight increased 9.3%, as we took pricing actions to manage
capacity.”
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act. Words such as “will,”
“expect,” “intend,” “anticipate,” “believe,” “could,” “would,”
“should,” “may,” “project,” “forecast,” “propose,” “plan,”
“designed,” “enable,” and similar expressions which speak only as
of the date the statement was made are intended to identify
forward-looking statements. Forward-looking statements are
inherently uncertain, are based upon current beliefs, assumptions
and expectations of Company management and current market
conditions, and are subject to significant business, economic,
competitive, regulatory and other risks, uncertainties and
contingencies, known and unknown, many of which are beyond our
control. Our future financial condition and results could differ
materially from those predicted in such forward-looking statements
because of a number of factors, including (without limitation
general economic factors, including (without limitation) customer
demand in the retail and manufacturing sectors; business risks and
increasing costs associated with the transportation industry,
including increasing equipment, operational and technology costs
and disruption from natural disasters; competition and competitive
pressure on pricing; the risk of labor disruptions or stoppages, if
our relationship with our employees and unions were to deteriorate;
increasing pension expense and funding obligations, subject to
interest rate volatility; increasing costs relating to our
self-insurance claims expenses; our ability to finance the
maintenance, acquisition and replacement of revenue equipment and
other necessary capital expenditures; our ability to comply and the
cost of compliance with, or liability resulting from violation of,
federal, state, local and foreign laws and regulations, including
(without limitation) labor laws and laws and regulations regarding
the environment; impediments to our operations and business
resulting from anti-terrorism measures; the impact of claims and
litigation expense to which we are or may become exposed; failure
to realize the expected benefits and costs savings from our
performance and operational improvement initiatives; our ability to
attract and retain qualified drivers and increasing costs of driver
compensation; a significant privacy breach or IT system disruption;
risks of operating in foreign countries; our dependence on key
employees; seasonality; shortages of fuel and changes in the cost
of fuel or the index upon which we base our fuel surcharge and the
effectiveness of our fuel surcharge program in protecting us
against fuel price volatility; our ability to generate sufficient
liquidity to satisfy our cash needs and future cash commitments,
including (without limitation) our obligations related to our
indebtedness and lease and pension funding requirements, and our
ability to achieve increased cash flows through improvement in
operations; limitations on our operations, our financing
opportunities, potential strategic transactions, acquisitions or
dispositions resulting from restrictive covenants in the documents
governing our existing and future indebtedness; our failure to
comply with the covenants in the documents governing our existing
and future indebtedness; fluctuations in the price of our common
stock; dilution from future issuances of our common stock; our
intention not to pay dividends on our common stock; that we have
the ability to issue preferred stock that may adversely affect the
rights of holders of our common stock; and other risks and
contingencies, including (without limitation) the risk factors that
are included in our reports filed with the SEC, including those
described under “Risk Factors” in our annual report on Form 10-K
and quarterly reports on Form 10-Q.
About YRC Worldwide
YRC Worldwide Inc., headquartered in Overland
Park, Kan., is the holding company for a portfolio of
less-than-truckload (LTL) companies including Holland, New Penn,
Reddaway, and YRC Freight as well as the logistics company HNRY
Logistics. Collectively, YRC Worldwide companies have one of the
largest, most comprehensive logistics and LTL networks in North
America with local, regional, national and international
capabilities. Through their teams of experienced service
professionals, YRC Worldwide companies offer industry-leading
expertise in flexible supply chain solutions, ensuring customers
can ship industrial, commercial and retail goods with
confidence.
Please visit our website at www.yrcw.com for
more information.
Investor Contact: |
Eric Birge913-696-6108investor@yrcw.com |
|
|
Media Contact: |
Mike Kelley913-696-6121mike.kelley@yrcw.com |
SOURCE: YRC Worldwide
YRC Worldwide (NASDAQ:YRCW)
Historical Stock Chart
From Mar 2024 to Apr 2024
YRC Worldwide (NASDAQ:YRCW)
Historical Stock Chart
From Apr 2023 to Apr 2024