YRC reports lower earnings, weak domestic market continues
YRC Worldwide Inc. said its third quarter net profit fell to $40.7 million from $95.8 million in the same period in 2006.
The Overland Park, Kan.-based trucking and logistics company reported quarterly operating revenue of $2.5 billion compared to $2.6 billion last year.
“The weak domestic shipping market continues to significantly impact the operating performance of all our companies,” said Bill Zollars, chairman, president and chief executive officer. “YRC National Transportation and YRC Logistics have responded aggressively to the difficult operating environment, and their results compare favorably to overall industry performance.
“YRC Regional Transportation faced additional challenges from consumer mix and integration issues, and as a result, performed well below expectations. We are taking appropriate actions to address these performance issues,” he said,
“The transportation industry continues to be impacted by lower volumes and the economic outlook is uncertain. Our results will continue to be impacted by the soft economy,” he added.
YRC Worldwide brands include Yellow Transportation, Roadway, Reimer Express, YRC Logistics, New Penn, USF Holland, USF Reddaway, and USF Glen Moore.