YRC Worldwide Inc. said Thursday that it doubled its operating revenue and eked out a profit for 2015, despite a number of financial obstacles.
The Overland Park-based trucking carrier (Nasdaq: YRCW) reported operating income of $93 million for the year, compared with $45.5 million for 2014. That translated to earnings of $700,000, or 2 cents a share, compared with a net loss of $85.8 million, or $3 a share, the previous year.
YRC Worldwide's operating income for 2015 was double the previous year's figure.
Boosting operating revenue and showing a profit didn’t come easily for YRC. Beyond dealing with lower fuel surcharge revenue and an economy that flattened in the second half of the year, the company took a $28.7 million charge in the fourth quarter due to an offer that let some nonunion employees elect to receive a lump-sum pension payment. The pension offer was designed to reduce the company’s long-term pension obligations.
YRC also had good news for certain union employees at its regional trucking operations. They will receive a profit-sharing bonus equal to 1 percent of their 2015 earnings after the units hit a goal for improving operating ratio.
In all, YRC reported operating revenue of $4.8 billion in 2015, down from $5 billion the previous year.
For the fourth quarter, which ended Dec. 31, the company had operating revenue of $1.14 billion, an operat
ing loss of $15.3 million and a net loss of $23.5 million. That compares with operating revenue of $1.2 billion, operating income of $31.2 million and net income of $6.2 million, for the same quarter the previous year.
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