'The economy has slowed significantly in the fourth quarter, resulting in lower volumes than we anticipated across all of our asset-based business units,' said Bill Zollars, chief executive officer.
The company now expects fourth quarter diluted earnings per share to be in the range of $0.95 to $1.05 and full year 2006 earnings to be $5.00 to $5.10 per share. The company’s previous guidance was $1.40 to $1.50 per share for the fourth quarter and $5.45 to $5.55 per share for the year.
Fourth quarter tonnage is projected to be lower than 2005 by a mid-single digit percentage for each business unit.
The company said 'although pricing has remained disciplined in the marketplace, it is somewhat below the company's expectations.'
YRC's subsidiaries include Yellow Transportation, Roadway, Reimer Express, Meridian IQ, New Penn, USF Holland, USF Reddaway, USF Bestway and USF Glen Moore.
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The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
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