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Less-than-truckload carrier YRC Worldwide Inc. and its YRC Freight long-haul unit today both reported operating income in the first quarter of 2013, the first time since 2007 that YRC and its struggling unit have posted operating gains during what is normally the weakest quarter of the year.
YRC Freight posted operating profit of $2.4 million, a $58.5 million year-over-year increase from the 2012 year-earlier period and the third consecutive quarter of positive operating income. The unit's operating ratio fell to 99.7, meaning YRC Freight was spending $99.70 for every $100 in revenue. By contrast, the unit's operating ratio stood at over 107 in the first quarter of 2012, meaning expenses had significantly exceeded revenue.
For the company as a whole, operating income hit $9.9 million in the quarter, compared to a $48.8 million loss in the year-earlier period. The 2013 results were positively affected by a $4.5 million gain on asset sales, while the 2012 results included an $8.3 million loss on asset disposal, the company said in releasing its first quarter results.
Operating revenue for the company totaled $1.16 billion, down 2.7 percent from the 2012 period. The decline was paced by YRC Freight, which reported a 4.5 percent year-over-year revenue drop. YRC's regional less-than-truckload (LTL) division, YRC Regional, reported a 1.2 percent year-over-year revenue gain and a 0.6-percent increase in operating income. The unit posted a 97.1 operating ratio for the quarter...................
YRC, long-haul unit post first-quarter operating gains for first time since 2007 – DC Velocity
YRC Freight posted operating profit of $2.4 million, a $58.5 million year-over-year increase from the 2012 year-earlier period and the third consecutive quarter of positive operating income. The unit's operating ratio fell to 99.7, meaning YRC Freight was spending $99.70 for every $100 in revenue. By contrast, the unit's operating ratio stood at over 107 in the first quarter of 2012, meaning expenses had significantly exceeded revenue.
For the company as a whole, operating income hit $9.9 million in the quarter, compared to a $48.8 million loss in the year-earlier period. The 2013 results were positively affected by a $4.5 million gain on asset sales, while the 2012 results included an $8.3 million loss on asset disposal, the company said in releasing its first quarter results.
Operating revenue for the company totaled $1.16 billion, down 2.7 percent from the 2012 period. The decline was paced by YRC Freight, which reported a 4.5 percent year-over-year revenue drop. YRC's regional less-than-truckload (LTL) division, YRC Regional, reported a 1.2 percent year-over-year revenue gain and a 0.6-percent increase in operating income. The unit posted a 97.1 operating ratio for the quarter...................
YRC, long-haul unit post first-quarter operating gains for first time since 2007 – DC Velocity