November 3, 2011-YRC analysts predict improved revenue
David Twiddy Reporter - Kansas City Business Journal
Wall Street analysts expect YRC Worldwide Inc. to have generated higher revenue in the third quarter than a year ago, but it’s hard to tell how much that would help earnings. The Overland Park-based company (Nasdaq: YRCW) is scheduled to release its financial results for the July-September period early Friday. The consensus of analysts surveyed by Thomson Reuters is that the company lost 36 cents a share on $1.28 billion in revenue during the quarter. By comparison, YRC reported losing $1.33 a share on $1.14 billion in revenue during the same period last year. The 2010 per-share number probably will be revised because the company since has executed a reverse-stock split and issued hundreds of millions of new shares. Shareholders are being asked to approve a second reverse-stock split during the company’s annual meeting Nov. 30, a condition set by Nasdaq officials to keep YRC from being booted off the stock exchange for trading for less than $1. This will mark the first quarterly report overseen by CEO James Welch, who took over in July. Industry experts have said that although national freight levels haven’t been spectacular, they haven’t shown the telltale signs of a second recession.
"I am truly excited to be a member of YRC Worldwide and James' leadership team," said Pierson. "Over the past three years, I have been involved in all aspects of our financial restructuring working closely with our lenders, shareholders, other stakeholders and the company's finance team. We have made great strides over the past several months and fully expect that we will continue to do so into the foreseeable future."