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OVERLAND PARK, Kan., Aug. 19, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW) announces that four of its YRC Freight professional drivers rose to the top five final runoff at the.
HOLLAND, Mich., Aug. 19, 2019 (GLOBE NEWSWIRE) -- (YRCW) -- Holland, the industry leader in Central and Southeastern next-day delivery, has extended its record as a winner in the Logistics Management magazine’s Quest for Quality awards for the 33rd year. Holland was honored with a 2019 Quest for Quality award in the South/South Central Regional LTL Carriers category. “Team Holland consistently works to deliver on its promise of reliability and quality handling,” says Scott Ware, president of Holland.
The Great Recession had ravaged volumes. Carrier executives seeking to gain or preserve market share, as well as a couple of carriers trying, unsuccessfully, to drive YRC out of business, abandoned their pricing discipline and viciously undercut each other. LTL carriers, for the most part, are in excellent financial health.
The state is erecting a spiral staircase that will regulate the interchange at Interstate 285, which is Atlanta's perimeter highway, and State Route 400, which connects Atlanta to its northern suburbs and whose heavy volumes make it an interstate in everything but name. What's different is that the current work is progressing amidst insane traffic congestion not present when the stack interchange connecting Interstates 85 and 285 was going up. Spaghetti Junction is consistently ranked by the non-profit American Transportation Research Institute (ATRI) as the country's worst truck bottleneck.
If YRC Worldwide, Inc.'s (NASDAQ: YRCW) second-quarter results could talk, they would tell investors and shippers to give them the benefit of the doubt. Like most of its less-than-truckload (LTL) carrier brethren, YRC felt the sting of declining revenues and volumes in the second quarter. Its long-haul unit, YRC Freight, reported an increase in OR to 98 percent from 96.8 percent.
Shares of YRC Worldwide Inc. tumbled 22.5% toward a 7 1/2-month low in afternoon trading on Thursday, after the trucking company reported a second-quarter loss that was much wider than expected, while revenue declined more than analysts projected. Before the open, YRC said it swung to a net loss of $21.6 million, or 71 cents a share, from a profit of $18.7 million, or 43 cents a share, in the year-earlier period. That missed the average analyst loss estimate of a penny a share, according to FactSet. Revenue fell 4.1% to $1.27 billion, just below the FactSet consensus of $1.29 billion. Although the company said it ratified the labor agreement during May, Chief Executive Darren Hawkins said the contract impacted the company in "several" ways. "First, we saw declining revenues due to temporary customer concern surrounding the labor negotiation," Hawkins said. "Second, while the labor contract was ratified midway through May, the economic package was retroactive to April 1, 2019. In the short-term, this created cost headwinds that we were not fully able to offset during the quarter with revenue growth or cost savings ." The stock has slumped 52.0% over the past three months, while the Dow Jones Transportation Average has slipped 3.8% and the Dow Jones Industrial Average has gained 2.0%.
YRC (YRCW) delivered earnings and revenue surprises of -395.83% and -1.84%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
OVERLAND PARK, Kan., Aug. 09, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW) reported consolidated operating revenue for second quarter 2019 of $1.273 billion and consolidated.
YRC Worldwide (NASDAQ: YRCW ) will be releasing its next round of earnings this Friday, August 9. For all of the relevant information, here is your guide for the Q2 earnings announcement. Earnings and ...
OVERLAND PARK, Kan., Aug. 05, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW) announced today that twenty-one of its professional drivers will compete at the 2019 National Truck.
YRC (YRCW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Reddaway (YRCW), an industry-leading less-than-truckload (LTL) service provider in the western United States and Canada, is proud to announce the Reddaway Truck Driving Apprenticeship. The apprenticeship is a one-year training program where interested individuals can earn a Class A license and driving experience while being paid a wage that includes benefits. After students successfully complete the apprenticeship, they have a job at Reddaway as a professional truck driver.
Active and retired members of the International Brotherhood of Teamsters received a boost after the U.S. House of Representatives approved legislation to keep multiemployer pension funds from failing. The Rehabilitation for Multiemployer Pensions Act (H.R. 397) passed the chamber on July 25 by a vote of 264-169 and now advances to the U.S. Senate. The measure is considered critical by some to save more than 300 multiemployer pension funds across the country — including the Teamster Union's Central States Pension Fund, which includes over 30,000 employees of LTL carriers ABF Freight and YRC Worldwide Inc (NASDAQ: YRCW).
Moody's Investors Service ("Moody's") upgraded the ratings of truck carrier YRC Worldwide Inc. ("YRC"), including the Corporate Family Rating to B2 from B3, the Probability of Default Rating to B2-PD from B3-PD and the Senior Secured rating to Ba2 from Ba3. The ratings reflect the prospects for meaningful cost savings because of greater operational flexibility under YRC's new five-year labor agreement with the International Brotherhood of Teamsters. Moody's anticipates that YRC will achieve additional cost savings from a network optimization strategy that aims to increase density in its terminal network through cohabitation or consolidation of facilities.
OVERLAND PARK, Kan., July 22, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW), announced today that on Friday, August 9, 2019, at 9:30 a.m. ET, company executives will host a.
HOLLAND, Mich., July 17, 2019 -- (NASDAQ: YRCW) -- Holland, the leader in Central and Southeastern next-day delivery, was presented with the Ryder LTL Inter-Regional Carrier of.
The Daimler Trucks North America (OTCMarkets: DDAIF) division thinks education could get and keep badly needed new drivers. The average age of a commercial truck driver is 55 years old, according to ...
The less-than-truckload portfolio company has hired an industry veteran as its chief customer officer. He will lead the enterprise sales and marketing teams of YRC Worldwide and all its subsidiaries.
The CEO of less-than-truckload (LTL) carrier YRC Worldwide, Inc. (NASDAQ: YRCW) said on July 8 that more changes lie ahead for the company following its disclosure it will close the headquarters of regional LTL unit New Penn Motor Express in early September. In a July 8 memo to employees, Darren D. Hawkins said that the changes, which have not been determined, will be unveiled in the coming months. YRC, based in Overland Park, Kansas, has been developing a "network optimization" strategy, a key component of which was the completion of a five-year collective-bargaining agreement with Teamsters union members at the New Penn and Holland regional units, and at its YRC Freight national subsidiary.
New Penn Motor Express ("New Penn"), one of three U.S.-based regional less-than-truckload (LTL) carriers controlled by YRC Worldwide, Inc. (NASDAQ: YRCW), said Monday it will close its corporate offices in Lebanon, Pennsylvania after 88 years, and consolidate operations there with YRC's Field Resource Center at the parent's Overland Park, Kansas headquarters. The closing is expected to occur on or around September 9, according to a memo from New Penn President Howard Moshier. No New Penn service centers in Pennsylvania and across its network will be affected by the move, the regional LTL said.
OVERLAND PARK, Kan., July 09, 2019 -- YRC Worldwide Inc. (NASDAQ: YRCW) announces that Jason W. Bergman has been named Chief Customer Officer effective immediately. Bergman.
LEBANON, Pa., July 08, 2019 -- (NASDAQ: YRCW) -- New Penn Motor Express (“New Penn”) announced today that the administrative positions at its Lebanon, Pennsylvania headquarters.