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BREAKING NEWS: Third Quarter Update

R-14Driver

Well-Known Member
- Positive third quarter 2010 adjusted EBITDA in excess of second quarter 2010

OVERLAND PARK, Kan., Oct. 18 /PRNewswire-FirstCall/ -- YRC Worldwide Inc. (Nasdaq: YRCWD) today provided an update on its expected third quarter results including:

* For the third quarter of 2010, tonnage per day for YRC National and YRC Regional was 1.2% and 2.1%, respectively, higher than the tonnage per day for the second quarter of 2010. Revenue per shipment during the third quarter of 2010 for YRC National and YRC Regional was 1.9% and 3.7%, respectively, higher than the third quarter of 2009.
* The company expects third quarter 2010 positive adjusted EBITDA within a range of $42 million to $46 million. For the second and third quarters of 2010, the company expects cumulative adjusted EBITDA within a range of $82 million to $86 million, which exceeds the $50 million covenant level required by its credit agreement. The company expects a third quarter 2010 operating loss within a range of $18 million to $22 million. As a comparison, the company reported an operating loss of approximately $35 million for the second quarter of 2010 when excluding an $83 million non-cash benefit from an adjustment to the fair value of the March 2010 union employee equity award.
* At September 30, 2010, the company's estimated cash and cash equivalents were $115 million, restricted revolver reserves were $123 million, and unrestricted availability was $46 million, for a total of $284 million. During the third quarter of 2010 the company repaid $25 million of outstanding borrowings on its asset-backed securitization facility. ..................


YRC Worldwide Provides Third Quarter Update -- OVERLAND PARK, Kan., Oct. 18 /PRNewswire-FirstCall/ --
 

Kennesaw Kid

Well-Known Member
Staff member
Super Moderator
Premium
"The company expects a third quarter 2010 operating loss within a range of $18 million to $22 million."......

Call it what you want...a loss is a loss......you can put a saddle on a jackass, and call it a horse....but underneath it all....it is still a Jackass!....KK
 

weave

Member
how the heck can lose money in the third quarter? i know, rhetorical question. in the military it was called fraud, waste and abuse.
 

rocketmancve

Active Member
I think the news shows obvious improvement and that's the way Wall Street took it because the stock went up today. I think the timing is very convenient for the company because they know most of the people that are going to mail back ballots sent them in already. And, of course, the ballots will be counted before the 3rd quarter results will be posted.
 

twospeeder

Member
I think the news shows obvious improvement and that's the way Wall Street took it because the stock went up today. I think the timing is very convenient for the company because they know most of the people that are going to mail back ballots sent them in already. And, of course, the ballots will be counted before the 3rd quarter results will be posted.
This company has been reporting earnings(sic)35 days after the close of the quarter for many quarters. It's nothing new.
 

electraglideatl

Well-Known Member
When Yrc really kicks into gear next year and starts making money like crazy you will be wishing there was a snapback clause.......5 more years of concessions that need not be will hurt....Goodluck to all........
 

Fr8holler

Well-Known Member
ANother Einstein who didn't read the proposal , especially the part about profit sharing if and when the Company gets into the black.
 

electraglideatl

Well-Known Member
ANother Einstein who didn't read the proposal , especially the part about profit sharing if and when the Company gets into the black.

Yea and You were probably jumping for joy when they gave the 2 rounds of worthless stock..........Now who's the Einstein..........LMAO...........:GrowUp::poster_oops:
 
S

SoCalkid

Guest
ANother Einstein who didn't read the proposal , especially the part about profit sharing if and when the Company gets into the black.

If you think they can't play with the numbers to prevent your profit sharing your fooling yourself. Just look at this whole profit before EBITDA it is a joke! Why do you think the CFO up and left. My guess is he didn't want his career to go down with suspicious Book keeping.

You know the old saying "You can hope in one hand and **** in the other" well... You can take your stock options in one hand and profit sharing in the other.
 

roadstar120

Active Member
If you think they can't play with the numbers to prevent your profit sharing your fooling yourself. Just look at this whole profit before EBITDA it is a joke! Why do you think the CFO up and left. My guess is he didn't want his career to go down with suspicious Book keeping.

You know the old saying "You can hope in one hand and **** in the other" well... You can take your stock options in one hand and profit sharing in the other.

They can play with any numbers they care to but if you think for one minute that the financial dealings of these people has gone without notice ....I believe you are as mistaken as they are.
They can up and leave as you put it or retire or hide in any way they see fit but I believe they are already under the scope of leagal authority and....WHAT GOES AROUND....COMES AROUND!!!!!!!!!
I'm just going to be patient and hope for the best in the near future.
 

Fr8holler

Well-Known Member
If you think they can't play with the numbers to prevent your profit sharing your fooling yourself. Just look at this whole profit before EBITDA it is a joke! Why do you think the CFO up and left. My guess is he didn't want his career to go down with suspicious Book keeping.

You know the old saying "You can hope in one hand and **** in the other" well... You can take your stock options in one hand and profit sharing in the other.
The CFO up and left ? When did this happen ?
 

series60

Well-Known Member
YRC Pays Wicks $800000 to Stay | Journal of Commerce

This was my main reason for a "no" vote.
After the last round of givebacks they give this puke nearly a million buck bonus for fooling these guys to give it back. Then after he collects it - he resigns.
 

dejabo

Member
Profit.............2008...........I

I believe the last profitable quarter was the 4th in 2008.....And of course included into this mix of no profit is our concessions….And now we are going to give more….And round four will probably be around the next bend in the road….
 
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