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/ --
 

albag

Pray for peace!
Premium
Gee I wonder why the banks want this concession package? Could it be that YRCW is STILL in financial distress? YRCW is still posting an expected operating LOSS. While over all debt was decreased we have yet to show a net profit.
 

slavenomore

US Gov Hears Foreign Corps More Than Nonunions
Premium
This isn't the actual deal is it? Words like expects and such are used.
 

caddy

Well-Known Member
Gee I wonder why the banks want this concession package? Could it be that YRCW is STILL in financial distress? YRCW is still posting an expected operating LOSS. While over all debt was decreased we have yet to show a net profit.

i take it you are not a driver/dock teamster
 
Top