YRC Worldwide Inc (YRCW)

[yesmistermorningstar]

YRC Worldwide

Company had consolidated operating income of $38.8 million in the quarter.

YRC still has a lot of debt. It said total debt-to-Adjusted EBITDA ratio for third quarter 2016 was 3.45 times, up from 3.15 times for third quarter 2015. But, it said "This complies with the 3.75 maximum total leverage ratio covenant as of September 30, 2016 under the company's term loan credit agreement."

We'd say YRC is not out of the financial woods yet. However, YRC said at the end of Q3 it had cash and cash equivalents of $290.1 million, an increase of $45.3 million compared to $244.8 million as of September 30, 2015.

Company said revenue per hundredweight - a proxy for rate changes - increased by 0.3% when compared to the same period in 2015 at its Freight unit, and by 1.5% in its Regional segment.

YRC said "We continue to believe pricing discipline in the LTL sector remains steady despite the near-term headwinds" coming from weak freight volumes.

Company said it made "significant technology investments that include driver handheld units and Optym load plan and Quintiq route optimization solutions."