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Yellow | 2nd quarter results 2018

Well if there’s a positive it’s that the debt is being reduced BUT......
  • Purchased transportation expense increased $17.6 million in second quarter 2018 when compared to the same period last year. The increase was primarily due to a $10.2 million increase in equipment lease expense of which $8.4 million was attributable to long-term rentals in conjunction with the Company's strategy to reinvest in its fleet. The purchased transportation results also include a $9.1 million increase in third-party costs for customer specific logistics solutions. These increases were partially offset by a $2.7 million decrease from reduced usage of local purchased transportation
Again with the “purchased transportation” BS ? Up 17.6 million from last year? AND 8.4 million was due to rentals? Really ? Is this “special YRC book keeping” ?

Someone should have some splaining to do. What the hell are they renting? Are these magic tractors? Does the drivers seat turn into a bidet? Trailers with AC ? If they are purchasing more and more equipment shouldn’t this cost be going down?
 
hilo342 said:
Here in Kansas City there are over 125 rental 53’s. I’ve been told Denver has around 100 rental 53s and I’m sure St Louis has rental 53s. Yet no 53s are on order just pups. ??????
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I’m not trying to be a critic, But they keep saying how much equipment they are purchasing. You can look at numerous quarterly statements where they say they are “re investing” in the company by purchasing equipment, You would expect that number to be down.
 
Keepingon said:
Well if there’s a positive it’s that the debt is being reduced BUT......
  • Purchased transportation expense increased $17.6 million in second quarter 2018 when compared to the same period last year. The increase was primarily due to a $10.2 million increase in equipment lease expense of which $8.4 million was attributable to long-term rentals in conjunction with the Company's strategy to reinvest in its fleet. The purchased transportation results also include a $9.1 million increase in third-party costs for customer specific logistics solutions. These increases were partially offset by a $2.7 million decrease from reduced usage of local purchased transportation
Again with the “purchased transportation” BS ? Up 17.6 million from last year? AND 8.4 million was due to rentals? Really ? Is this “special YRC book keeping” ?

Someone should have some splaining to do. What the hell are they renting? Are these magic tractors? Does the drivers seat turn into a bidet? Trailers with AC ? If they are purchasing more and more equipment shouldn’t this cost be going down?
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Not taking up for them but I have seen a good bit of your road running rental tractors heavy back in March and April but that changed once I started seeing all those new Volvo’s
 
Keepingon said:
I’m not trying to be a critic, But they keep saying how much equipment they are purchasing. You can look at numerous quarterly statements where they say they are “re investing” in the company by purchasing equipment, You would expect that number to be down.
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@ Holland we got 235 new 2018 cascadias and were still behind and short tractors.
 
troubleman84 said:
Not taking up for them but I have seen a good bit of your road running rental tractors heavy back in March and April but that changed once I started seeing all those new Volvo’s
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I’m at New Penn we no rental tractors but I believe some of the trailers are leased.

Maybe they consider leased as rentals?
 
Keepingon said:
Well if there’s a positive it’s that the debt is being reduced BUT......
  • Purchased transportation expense increased $17.6 million in second quarter 2018 when compared to the same period last year. The increase was primarily due to a $10.2 million increase in equipment lease expense of which $8.4 million was attributable to long-term rentals in conjunction with the Company's strategy to reinvest in its fleet. The purchased transportation results also include a $9.1 million increase in third-party costs for customer specific logistics solutions. These increases were partially offset by a $2.7 million decrease from reduced usage of local purchased transportation
Again with the “purchased transportation” BS ? Up 17.6 million from last year? AND 8.4 million was due to rentals? Really ? Is this “special YRC book keeping” ?

Someone should have some splaining to do. What the hell are they renting? Are these magic tractors? Does the drivers seat turn into a bidet? Trailers with AC ? If they are purchasing more and more equipment shouldn’t this cost be going down?
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Correct me if I am wrong,but you don’t really see the words purchased new equipment anywhere. The words,adding equipment,and taking delivery of,and new operating leases of revenue equipment are there, which basically says leased...
 
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Keepingon said:
Well if there’s a positive it’s that the debt is being reduced BUT......
  • Purchased transportation expense increased $17.6 million in second quarter 2018 when compared to the same period last year. The increase was primarily due to a $10.2 million increase in equipment lease expense of which $8.4 million was attributable to long-term rentals in conjunction with the Company's strategy to reinvest in its fleet. The purchased transportation results also include a $9.1 million increase in third-party costs for customer specific logistics solutions. These increases were partially offset by a $2.7 million decrease from reduced usage of local purchased transportation
Again with the “purchased transportation” BS ? Up 17.6 million from last year? AND 8.4 million was due to rentals? Really ? Is this “special YRC book keeping” ?

Someone should have some splaining to do. What the hell are they renting? Are these magic tractors? Does the drivers seat turn into a bidet? Trailers with AC ? If they are purchasing more and more equipment shouldn’t this cost be going down?
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Well you know it is special book keeping.The change of operations to meet and turns and opening more D.C.s for PTS to run in and out of.that helped increase the expense of PTS.
 
Keepingon said:
Well if there’s a positive it’s that the debt is being reduced BUT......
  • Purchased transportation expense increased $17.6 million in second quarter 2018 when compared to the same period last year. The increase was primarily due to a $10.2 million increase in equipment lease expense of which $8.4 million was attributable to long-term rentals in conjunction with the Company's strategy to reinvest in its fleet. The purchased transportation results also include a $9.1 million increase in third-party costs for customer specific logistics solutions. These increases were partially offset by a $2.7 million decrease from reduced usage of local purchased transportation
Again with the “purchased transportation” BS ? Up 17.6 million from last year? AND 8.4 million was due to rentals? Really ? Is this “special YRC book keeping” ?

Someone should have some splaining to do. What the hell are they renting? Are these magic tractors? Does the drivers seat turn into a bidet? Trailers with AC ? If they are purchasing more and more equipment shouldn’t this cost be going down?
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Maybe it's the phrasing? Purchased Transportation isn't new trucks bought. Purchased Transportation is a phrase that means contractors. Schneider, CRST, etc. .
 
falconfan said:
Nothing to get giddy about but at least operated under 100.

https://m.nasdaq.com/press-release/yrc-worldwide-reports-second-quarter-2018-results-20180802-00883
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EQUAL SACRIFICE???
30 Million is slotted for contribution to the Nonunion Pension Plan, per Stephanie Fishers comments from the Conference Call Transcript below:
On last quarter's earnings call, we discussed the potential for nonunion pension settlement charges at YRC Freight in 2018. These charges will not impact the company's cash balance or liquidity and will be excluded from adjusted EBITDA and from operating income. However, these charges will be included in GAAP EBITDA. There was no impact to the second quarter financial results from nonunion pension settlement charges, but we expect the total of approximately $5 million to $20 million to impact the third and fourth quarters in 2018.
 
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