"While the uncertain industrial economy continues to impact the trucking industry, we remain focused on actions within our control," said James Welch, chief executive officer at YRC Worldwide. "The second quarter 2016 financial results did not meet our expectation but operationally we continue to strengthen the Company for the long-term. Year-over-year revenue per hundredweight, excluding fuel surcharge, has increased for 9 consecutive quarters at YRC Freight and 21 consecutive quarters at the Regional segment. Year-over-year tonnage per day was down during the quarter, but in June the decline was much smaller than April and May. Pricing discipline in the LTL sector remains steady despite the ongoing challenges from the industrial economy and lower fuel surcharge revenue. We do not intend to change our long-term strategy in reaction to near-term headwinds. We will continue managing our business by focusing on delivering award-winning customer service, enhancing the safety of our employees and improving productivity by reinvesting in the Company," stated Welch.
"During the second quarter, YRC Freight successfully launched its new Accelerated service," Welch continued. "This service leverages YRC Freight's existing dual speed network and has been well received by customers. There was demand for a faster, cost-competitive and reliable service and our employees responded to the market.
"We also took action to improve liquidity and strengthen the financial position of the Company by amending and improving the terms of the ABL facility. The amendment provides interest savings and an opportunity to better utilize our cash that would have otherwise been restricted from use," concluded Welch.
News 
Market Data 
Discover 
