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YRC shares rise on outlook for narrower loss

R-14Driver

Well-Known Member
OVERLAND PARK, Kan. (AP) -- Shares of YRC Worldwide Inc. rose Monday after the trucking operator said volumes are rising and it expects to post a narrower third-quarter operating loss than it reported a year ago.

THE SPARK: The company said it expects an operating loss between $18 million and $22 million, compared with a $35 million loss in the third quarter of 2009 after excluding an $83 million accounting gain related to the value of a union employee equity award.

The company also said tonnage per day rose compared to the previous quarter and revenue per shipment was up 1.9 percent for YRC National and 3.7 percent for YRC Regional compared with last year's third quarter.

THE BIG PICTURE: Truckers were hit hard during the recession, and YRC cut workers' pay, sold off real estate and deferred debt payments to avoid bankruptcy. YRC repaid $25 million of borrowing in the third quarter.

Truckers figure to benefit as the economy improves, and investors were cheered by an outlook that moved the company farther away from danger...............

YRC shares rise on outlook for narrower loss - Yahoo! Finance
 
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