Yellow | Yrc Worldwide Reports First Quarter 2019 Results

Freightmaster1

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Our primary focus during first quarter was securing a new labor agreement that was scheduled to expire on March 31, 2019. I am pleased to announce that on May 3, 2019, our employees approved the national agreement and 26 of the 27 applicable supplemental agreements,” said Darren Hawkins, Chief Executive Officer of YRC Worldwide. “Leading up to the approval of the five-year agreement, we experienced the effects of some customer concerns around the uncertainty of the negotiations process. While we cannot precisely quantify the revenue loss related to the labor agreement, our first quarter results were adversely impacted.”

Hawkins added, “During the first quarter, our freight operations were negatively impacted by severe winter weather events. Approximately half of the 63-day quarter was impacted by weather events for both YRC Freight and our largest Regional carrier, Holland, resulting in limited or closed operations across our 384-facility network. Holland was significantly impacted during a two-week period in late January, in which more than 25% of its’ network was down or severely limited.

“As we move through 2019, we will continue to prioritize yield over tonnage. We believe the new labor agreement provides both long-term value and opportunity for our employees, our customers, and our shareholders and it will be our number one priority to execute on the new contractual operational capabilities.

“At the very core of our 2019 strategy is network optimization. The initiative has multiple layers – with the primary objectives of enhancing service, creating opportunities for productivity improvements, and streamlining our cost structure as we seek to eliminate inefficiencies across the network, providing the potential for revenue growth and margin expansion,” said Hawkins.

https://seekingalpha.com/pr/17504344-yrc-worldwide-reports-first-quarter-2019-results

:bgroovy:
 
YRC Worldwide posts first-quarter loss on lower revenue

https://www.freightwaves.com/news/yrc-worldwide-posts-first-quarter-loss-on-lower-revenue

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:hissyfit:
 
Labor uncertainty impacted YRC Worldwide’s first quarter, but new deal provides new opportunities

https://www.freightwaves.com/news/l...arter-but-new-deal-provides-new-opportunities
One more hurdle
The labor deal is still not technically complete, as one of 27 supplemental agreements – the Joint Council 40 supplement – has not been approved. The union and YRC have until May 31, 2019, to get that approved, at which time the entire contract will go into effect, but that is not stopping the company from making plans for life under the agreement.

Hawkins said that the wage increases will be partially offset by a 30-cent per hour lower rate for health and wellness benefits in the new contract. Benefits will remain “top-notch,” he said, and combined with the higher wages will benefit the company as it seeks to attract new drivers.

Hawkins noted that in 2018, 5 percent of revenue was spent on overtime and the addition of expensive cartage drove up costs. “All of those pieces are being addressed in this contract,” he said.

“We have immediately turned our attention back to implementing a plan that takes advantage of the opportunities presented in the contract,” Hawkins said, including a network optimization plan.

“The new contract provides significant opportunities to improve operations that will provide us between $60 million and $80 million in network efficiencies and cost reductions in 2020,” he added.

Fisher said those numbers could grow over time as the improvements are implemented, which include the selling of 15 to 20 terminals that are no longer vital or being used in the network.
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:funky:
 
Rough winter weather, labor talks throw YRC units for loss in first quarter

YRC reported consolidated operating revenue for first quarter of $1.182 billion and a consolidated operating loss of $31.7 million, which included a $1.6 million net loss on property disposals. By comparison in the year-ago quarter, YRC posted operating revenue of $1.215 billion and consolidated operating loss of $4.3 million. That loss included a $3.2 million net loss on property disposals.

https://www.logisticsmgmt.com/artic..._units_for_loss_in_first_quarter/motorfreight

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:poke:
 
they cant move freight and make a profit and they have been selling properties since roadway and yellow merged and still cant operate like a real company and make meaningful profits...but , hey investing world!!!!we have 15 or 20 more properties to sell, watch out ltl industry, here we come!!!
 
Why dont they just sell the whole operation to a company that can run a freight operation?We have given them everything but the kitchen sink to stay viable as a freight company and they cant seem to their bullskiddaddle together.Gawd
 
the best thing to do would be have the employees pool there monies together and form an llc and then buy a large quantity of shares of stock so we can become a majority and then rid the entire c suite and bod and get people who have a clue. until then its the excuse train.
 
the best thing to do would be have the employees pool there monies together and form an llc and then buy a large quantity of shares of stock so we can become a majority and then rid the entire c suite and bod and get people who have a clue. until then its the excuse train.
Not me, not now, not ever.
 
Why dont they just sell the whole operation to a company that can run a freight operation?We have given them everything but the kitchen sink to stay viable as a freight company and they cant seem to their bullskiddaddle together.Gawd
Only if the pension liability goes away. Since that will never happen they ae doomed.
 
Our primary focus during first quarter was securing a new labor agreement that was scheduled to expire on March 31, 2019. I am pleased to announce that on May 3, 2019, our employees approved the national agreement and 26 of the 27 applicable supplemental agreements,” said Darren Hawkins, Chief Executive Officer of YRC Worldwide. “Leading up to the approval of the five-year agreement, we experienced the effects of some customer concerns around the uncertainty of the negotiations process. While we cannot precisely quantify the revenue loss related to the labor agreement, our first quarter results were adversely impacted.”

Hawkins added, “During the first quarter, our freight operations were negatively impacted by severe winter weather events. Approximately half of the 63-day quarter was impacted by weather events for both YRC Freight and our largest Regional carrier, Holland, resulting in limited or closed operations across our 384-facility network. Holland was significantly impacted during a two-week period in late January, in which more than 25% of its’ network was down or severely limited.

“As we move through 2019, we will continue to prioritize yield over tonnage. We believe the new labor agreement provides both long-term value and opportunity for our employees, our customers, and our shareholders and it will be our number one priority to execute on the new contractual operational capabilities.

“At the very core of our 2019 strategy is network optimization. The initiative has multiple layers – with the primary objectives of enhancing service, creating opportunities for productivity improvements, and streamlining our cost structure as we seek to eliminate inefficiencies across the network, providing the potential for revenue growth and margin expansion,” said Hawkins.

https://seekingalpha.com/pr/17504344-yrc-worldwide-reports-first-quarter-2019-results

:bgroovy:

Amazing, YRC faced all of this horrific weather and ODFL did not?????
 
Our primary focus during first quarter was securing a new labor agreement that was scheduled to expire on March 31, 2019. I am pleased to announce that on May 3, 2019, our employees approved the national agreement and 26 of the 27 applicable supplemental agreements,” said Darren Hawkins, Chief Executive Officer of YRC Worldwide. “Leading up to the approval of the five-year agreement, we experienced the effects of some customer concerns around the uncertainty of the negotiations process. While we cannot precisely quantify the revenue loss related to the labor agreement, our first quarter results were adversely impacted.”

Hawkins added, “During the first quarter, our freight operations were negatively impacted by severe winter weather events. Approximately half of the 63-day quarter was impacted by weather events for both YRC Freight and our largest Regional carrier, Holland, resulting in limited or closed operations across our 384-facility network. Holland was significantly impacted during a two-week period in late January, in which more than 25% of its’ network was down or severely limited.

“As we move through 2019, we will continue to prioritize yield over tonnage. We believe the new labor agreement provides both long-term value and opportunity for our employees, our customers, and our shareholders and it will be our number one priority to execute on the new contractual operational capabilities.

“At the very core of our 2019 strategy is network optimization. The initiative has multiple layers – with the primary objectives of enhancing service, creating opportunities for productivity improvements, and streamlining our cost structure as we seek to eliminate inefficiencies across the network, providing the potential for revenue growth and margin expansion,” said Hawkins.

https://seekingalpha.com/pr/17504344-yrc-worldwide-reports-first-quarter-2019-results

:bgroovy:
He is so full of crap.Just like his statement about one of the reasons for the 21million dollar loss was due to union contract negotiations of some sort.He is so retarded.Gawd help us and this company
 
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