Yellow | YRC Worldwide Updates 2017 Financial Projections

Freightmaster1

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https://globenewswire.com/news-rele...dwide-Updates-2017-Financial-Projections.html

"We are updating the financial projections now that we have a preliminary view of our third quarter 2017 results," said James Welch , chief executive officer of YRC Worldwide . "Hurricanes Harvey and Irma impacted operations at YRC Freight and Holland during the third quarter leading to the temporary closing or limited operations at 28 terminals. The hurricanes also had a cascading effect on the networks that delayed the delivery of shipments and unfavorably impacted productivity over roughly a five-week period. Additionally, we incurred costs associated with relocating revenue equipment to the impacted facilities as well as incurring employee overtime in order to properly initiate recovery efforts in response to these extraordinary weather events. While it is difficult to fully quantify the lost revenue and incremental costs associated with these natural disasters, they have had an unfavorable impact on our results. As we move into 2018, we expect the recovery and restoration efforts to contribute to an already positive economic environment.
"We have also been adversely impacted by higher than expected purchased transportation expense in the third quarter primarily attributable to a shortage of revenue equipment. The impact has been more acute as capacity has tightened more quickly than anticipated across the trucking sector. The shortage of revenue equipment has led to higher than expected local purchased transportation and short-term rental expense and an increase in maintenance expense on the existing fleet. The onboarding of new revenue equipment in 2017 has been weighted towards later in the year as the Company focused on successfully amending and extending the term loan. We expect to take delivery of more than 800 new tractors and 2,400 new trailers in fourth quarter 2017 and first quarter 2018 which we anticipate to help mitigate the increase in purchased transportation and maintenance expense.
"Finally, we recently named Howard Moshier as President of New Penn. He most recently served as Senior Vice President of Operations at YRC Freight and we look forward to working with him in his new capacity. We continue to believe in the strength of New Penn and in its reputation for exemplary customer service," concluded Welch.
For the three months ended September 30, 2017 , the Company expects to report consolidated operating revenue of approximately $1.25 billion and consolidated operating income of approximately $40 million . The Company also expects to report Adjusted EBITDA of approximately $81 million .
For full-year 2017, the Company continues to project consolidated operating revenue of approximately $4.8 billion to $5.0 billion . The projected full-year 2017 consolidated projected operating income has been lowered from approximately $150 million to $170 million to approximately $100 million to $120 million . The Company also lowered the projected Adjusted EBITDA from approximately $320 million to $340 million to approximately $280 million to $300 million . Investment in capital expenditures and new operating leases for revenue equipment continues to be projected to equal 6% to 8% of operating revenue in 2017.
:wtflol::crybaby:
 
https://globenewswire.com/news-rele...dwide-Updates-2017-Financial-Projections.html

"We are updating the financial projections now that we have a preliminary view of our third quarter 2017 results," said James Welch , chief executive officer of YRC Worldwide . "Hurricanes Harvey and Irma impacted operations at YRC Freight and Holland during the third quarter leading to the temporary closing or limited operations at 28 terminals. The hurricanes also had a cascading effect on the networks that delayed the delivery of shipments and unfavorably impacted productivity over roughly a five-week period. Additionally, we incurred costs associated with relocating revenue equipment to the impacted facilities as well as incurring employee overtime in order to properly initiate recovery efforts in response to these extraordinary weather events. While it is difficult to fully quantify the lost revenue and incremental costs associated with these natural disasters, they have had an unfavorable impact on our results. As we move into 2018, we expect the recovery and restoration efforts to contribute to an already positive economic environment.
"We have also been adversely impacted by higher than expected purchased transportation expense in the third quarter primarily attributable to a shortage of revenue equipment. The impact has been more acute as capacity has tightened more quickly than anticipated across the trucking sector. The shortage of revenue equipment has led to higher than expected local purchased transportation and short-term rental expense and an increase in maintenance expense on the existing fleet. The onboarding of new revenue equipment in 2017 has been weighted towards later in the year as the Company focused on successfully amending and extending the term loan. We expect to take delivery of more than 800 new tractors and 2,400 new trailers in fourth quarter 2017 and first quarter 2018 which we anticipate to help mitigate the increase in purchased transportation and maintenance expense.
"Finally, we recently named Howard Moshier as President of New Penn. He most recently served as Senior Vice President of Operations at YRC Freight and we look forward to working with him in his new capacity. We continue to believe in the strength of New Penn and in its reputation for exemplary customer service," concluded Welch.
For the three months ended September 30, 2017 , the Company expects to report consolidated operating revenue of approximately $1.25 billion and consolidated operating income of approximately $40 million . The Company also expects to report Adjusted EBITDA of approximately $81 million .
For full-year 2017, the Company continues to project consolidated operating revenue of approximately $4.8 billion to $5.0 billion . The projected full-year 2017 consolidated projected operating income has been lowered from approximately $150 million to $170 million to approximately $100 million to $120 million . The Company also lowered the projected Adjusted EBITDA from approximately $320 million to $340 million to approximately $280 million to $300 million . Investment in capital expenditures and new operating leases for revenue equipment continues to be projected to equal 6% to 8% of operating revenue in 2017.
:wtflol::crybaby:

The primary factors contributing to the update include:

  • The occurrence of significant weather during the third quarter 2017;
  • A shortage of revenue equipment;
  • Higher than expected purchased transportation expense;
  • Higher than anticipated maintenance expense;
  • Higher than expected employee overtime; and
  • Underperformance by one of the Regional operating companies
The last bullet point probably explains the sudden departure and replacement of the President at New Penn.
 
incurring employee overtime ?? Really then HIRE more Driver's !! DUH , Oops, my bad forgot we are the lowest paid in the LTL Industry
 
The primary factors contributing to the update include:

  • The occurrence of significant weather during the third quarter 2017;
  • A shortage of revenue equipment;
  • Higher than expected purchased transportation expense;
  • Higher than anticipated maintenance expense;
  • Higher than expected employee overtime; and
  • Underperformance by one of the Regional operating companies
The last bullet point probably explains the sudden departure and replacement of the President at New Penn.
Yeah! Don Foust didn't even make it 3 years at New Penn?!
https://www.bizjournals.com/kansascity/news/2014/08/25/new-penn-president-donald-foust.html

:wtflol:
 
http://www.yrcw.com/about/gallery/executives/hmoshier/hmoshier.pdf

wdYKGjy.jpg

Howard Moshier
 
don faust in less than 3 years has done more damage to new penn than actually yrcw has done to us in what ,about 13 years... and it says he was granted roughly $ 450,000. to do it, that's at the beginning, and shows faust cashed in about $160,000.00 more this year alone..thats all just in granted stock...plus his salary and what ever other perks might have been..can a holding company actually operate so poorly that it let a money making subsitary be run further into the ground and paid him arount 3/4 of a million just in stock to do it..poor howard moshier, to even have to try to turn this disaster around, but it gets better, the vp of ops here is every bit as responsible as faust for running npme further into the ground, but he is still here...this clown does morning conference calls with do as I say or your fired..minny trump he thinks I guess...that's why most npme people are gone, either fired or had enough of this crap management. now nobody has sense of urgency to even think of doing next day here any more. we are lucky to get guaranteed freight delivered on time. this place is so disfunctionable, it truly must be easy to make money in ltl, if we made any this last quarter.good luck howard moshier, theres fewer and fewer npme people left any more that still know how to move freight in the north east...and your vp here isn't your friend if you truly want to get this right again!!
 
npme people were never fooled, we were here when roadway paid 350 million for npme , alone!!! and paid the note off I year early...do you think anybody would pay that kind of money for a little northeast carrier if we didn't make some serious cash??why yrcw would rather push there stupid load average and 100 weight and other crap numbers on us over making serious profit is beyond me...and with these last 2 clowns, faust and swankeeee, yrc people, least faust is, or miss fits cause they didnt make the cut at yellowroadway merger time. this company is doomed to be a central transport or roadrunner type ::shit:: company till its end!!! even yrc freight gets higher ratings than npme , need I say more!!!
 
npme people were never fooled, we were here when roadway paid 350 million for npme , alone!!! and paid the note off I year early...do you think anybody would pay that kind of money for a little northeast carrier if we didn't make some serious cash??why yrcw would rather push there stupid load average and 100 weight and other crap numbers on us over making serious profit is beyond me...and with these last 2 clowns, faust and swankeeee, yrc people, least faust is, or miss fits cause they didnt make the cut at yellowroadway merger time. this company is doomed to be a central transport or roadrunner type :::shit::: company till its end!!! even yrc freight gets higher ratings than npme , need I say more!!!
I remember when Roadway bought NP their plan was "leave it alone" operating around 80 to 82 at the time the new way of calculating how we are doing is " Bill count". They hire managers from New England and Central tell us how good they are and we used to laugh thinking they would have never even got hired here, we don't laugh any more because it's no longer funny,it's a shame.
We used to get a lot of distribution freight from Roadrunner and when the loads were opened they were such a mess guys would punch out instead of make overtime stripping them, then we got Don Foust former President at Roadrunner and now our peddle runs going out in the morning look like those Roadrunner loads did coming in BUT we have more bills on our peddle runs !

For the sake of the good people ( my Union family) at New Penn I wish Howard Moshier the very best and hope he is successful. but will remain skeptical till I see results. He has some house cleaning to do at the upper managment level.
 
I remember when Roadway bought NP their plan was "leave it alone" operating around 80 to 82 at the time the new way of calculating how we are doing is " Bill count". They hire managers from New England and Central tell us how good they are and we used to laugh thinking they would have never even got hired here, we don't laugh any more because it's no longer funny,it's a shame.
We used to get a lot of distribution freight from Roadrunner and when the loads were opened they were such a mess guys would punch out instead of make overtime stripping them, then we got Don Foust former President at Roadrunner and now our peddle runs going out in the morning look like those Roadrunner loads did coming in BUT we have more bills on our peddle runs !

For the sake of the good people ( my Union family) at New Penn I wish Howard Moshier the very best and hope he is successful. but will remain skeptical till I see results. He has some house cleaning to do at the upper managment level.
First. dump Swankee.
 
The whole place is just a shambles. And a sham. Why are we still here?
Question of the day.
I have supervision and TM's I have seen and still work in the positions that would have never been considered for them even ten years ago. Now. All these people are just number pushers. I just shake my head. Where they are trying to go or please I don't know. I've come to a conclusion in my own eyes that I have nothing to lose or anyone to impress. All I have to do is work my eight until it ends or I retire. Hopefully the latter.
YRC is a lost cause. No future. Really no past. Just the present.
No matter who they put at the top it will make no difference. Too many fingers in the pot. His or hers is just one of them. All just grabbing a chunk of change before it dies.
We are The Walking Dead.
Which just happens to be on right now. Lol.
:17142:
 
The whole place is just a shambles. And a sham. Why are we still here?
Question of the day.
I have supervision and TM's I have seen and still work in the positions that would have never been considered for them even ten years ago. Now. All these people are just number pushers. I just shake my head. Where they are trying to go or please I don't know. I've come to a conclusion in my own eyes that I have nothing to lose or anyone to impress. All I have to do is work my eight until it ends or I retire. Hopefully the latter.
YRC is a lost cause. No future. Really no past. Just the present.
No matter who they put at the top it will make no difference. Too many fingers in the pot. His or hers is just one of them. All just grabbing a chunk of change before it dies.
We are The Walking Dead.
Which just happens to be on right now. Lol.
:17142:
I'm not sure if I should have a stiff drink or get a noose after reading this post.
 
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