Senin, 30 April 2012
YRC Worldwide Inc. says its lenders have agreed to reset covenants from a July 2011 credit agreement, staving off the latest concern about the trucker’s financial future.
In a Monday release, the Overland Park-based company said all of its term credit agreement lenders and credit agreement lenders for asset-backed loans agreed to the amendments.
In addition to resetting the loan terms, the
Unanimous Vote Affirms Resounding Support of the New Management Team's Renewed Focus on LTL Leadership
Agreement Provides Years of Additional Financial Flexibility
YRC Worldwide Inc. today announced that it has reached an agreement with its lenders to reset certain financial covenants over the life of the loans and allow the company to retain all proceeds from the auction of certain surplus
Company Ranks No. 1 in Survey of NASSTRAC Members
The National Shippers Strategic Transportation Council (NASSTRAC) presented its 2012 LTL Carrier of the Year to YRC Freight, a subsidiary of YRC Worldwide Inc. (NASDAQ: YRCW) at its annual Logistics Conference & Expo.
"Since we adopted the new YRC Freight brand in February, we have been focusing on our core LTL business and the fundamentals
Jumat, 27 April 2012
Arkansas Best Corporation announced a first quarter 2012 net loss of $18.2 million, or $0.71 per share, compared to a net loss of $12.8 million, or $0.51 per share in the first quarter of 2011.
Arkansas Best's first quarter 2012 results were impacted by a number of unusual items which are listed below with the corresponding diluted per share effect:
Low corporate tax benefit rate - ($0.18/
U.S. Domestic and Supply Chain & Freight Segments Post Double-Digit Gains in Operating Profit
UPS announced first quarter 2012 diluted earnings per share of $1.00, a 10% improvement over the prior-year period. Consolidated revenue increased 4.4% to $13.1 billion. Operating profit for the U.S. Domestic and Supply Chain and Freight segments increased 13% and 19%, respectively.
Kamis, 26 April 2012
The tide has certainly changed in a few short years. The Fortune-500 company is now staving off bankruptcy, its stock floundering about in the single digits on the NASDAQ from a 52-week high of $618.06 in April 2011. A net loss of $409 million was posted last year, on revenues of $4.9 billion. YRC is not going down without a fight though, as it turned to its creditors in mid-April to
Rabu, 25 April 2012
BNSF Logistics, LLC, an industry leading global third party logistics and supply chain solutions provider, has announced that YRC Freight, an Overland Park, Kan.-based “less than truckload (LTL)” services provider, has been recognized for exceptional service and selected as the 2011 “Carrier Excellence Award” winner in the LTL services category. YRC Freight was selected after evaluation of
Selasa, 24 April 2012
The Board of Directors of Arkansas Best Corporation ABFS has declared a quarterly cash dividend of three cents ($0.03) per share to holders of record of its Common Stock, $0.01 par value, on May 8, 2012, payable on May 22, 2012.
Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a freight transportation services and solutions provider. Through its various subsidiaries,
U.S. freight levels inched forward in March, increasing 0.2 percent compared with February and hinting at a slower growth pace this year, according to new data from the American Trucking Associations.
That compares with a 0.5 percent increase in February, seasonally adjusted.
The ATA’s index of for-hire truck tonnage now stands at 119.5, up from 119.3 in February. The year 2000 equals 100
Thanks to an improving U.S. economy, decent volume growth, and an avoidance of past errors, LTL is no longer the wreck on the highway.
There's a proverb that "there are no mistakes, just lessons." If that's true, the less-than-truckload (LTL) sector has acquired a world-class education over the past five to six years.
After a terrible cycle that saw annual revenues shrink from more than $33
Nine professional Virginia truck drivers were crowned 2012 "Champions of the Highway" at the 61st annual Virginia Truck Driving Championships held April 20 and 21 at the Lee Hi Travel Plaza in Lexington, Virginia.
The annual Virginia Truck Driving Championships showcases the safe driving skills and professionalism of Virginia's best truck drivers in a safety-oriented competition.
The 2003 merger which combined two major trucking firms, Yellow and Roadway, should have created a monster of the highway. Instead, as is often the case with large deals, the $1.05 billion merger turned into a monster headache that took years to finalize, partly because of a difficult combination of IT systems and staff. That headache continued on Friday as the company asked its creditors to
Jumat, 20 April 2012
YRC Worldwide Inc. is pursuing leniency from its lenders, a move that comes after warnings that its recovery wasn’t advancing fast enough to meet minimum requirements.
The Overland Park-based trucking company explained its request in a Friday filing with the Securities and Exchange Commission.
Specifically, it wants to reset covenants from a July 2011 credit agreement that govern minimum
UPS will announce its first quarter results on Thursday, April 26, 2012, at approximately 7:45 a.m. Eastern Daylight Time.
At 8:30 a.m. EDT, UPS Chairman and CEO Scott Davis and Chief Financial Officer Kurt Kuehn will conduct an investor conference call. This call will be open to reporters and the public, on a listen-only basis, via a live Webcast.
To listen to the live Webcast: Go to
YRC Worldwide Inc., the second- biggest publicly traded U.S. trucking company, is seeking to change the terms of its covenants under a credit agreement signed in July.
The company is proposing to reduce compliance thresholds for consolidated earnings before interest, taxes, depreciation and amortization by between 25 percent and 35 percent and for the interest-coverage ratio by between 30
Kansas-based YRC Worldwide Inc., the trucking conglomerate with a significant midstate presence, has asked its lenders to amend credit agreements to give the company more wiggle room to meet financial requirements.
YRC is seeking amendments to the credit deals that would reduce compliance thresholds on three key metrics, saying that since October it has exceeded its forecasts and continues to
Sabtu, 14 April 2012
Can James Welch, the new CEO of one time transportation giant YRC Worldwide, succeed in retooling and rehabilitating the company that was close to bankruptcy last year? The quick answer is yes, based on his less-than-a-year performance as helmsman of the ailing YRC.
With his extensive experience in the trucking industry, some investors believe that if there’s anybody who could pull the
Selasa, 10 April 2012
Latest restructuring intended to reduce freight handling, speed shipments
YRC Freight implemented two changes of operations over the April 7 weekend, reconfiguring its terminal network to speed freight and reduce handling.
The restructuring, approved by the Teamsters union last month, eliminated road domiciles, shifting drivers from end-of-the-line terminals to hubs, the company said.
Senin, 09 April 2012
James Welch, chief executive officer of YRC Worldwide Inc., says "ill timed acquisitions" by the company's previous management brought down the company's stock price.
Welch talked to Bloomberg's Kathleen Hays and Vonnie Quinn on "The Hays Advantage" on Bloomberg Radio on April 4, 2012.
Audio download here..............
Sabtu, 07 April 2012
Arkansas Best Corporation (Nasdaq: ABFS) will announce its first quarter 2012 results, prior to the opening of the market, on Friday, April 27, 2012. A conference call with company executives will be held that day at 9:30 a.m. ET (8:30 a.m. CT) to discuss these results.
Interested parties are invited to listen by calling (800) 926-5085. Following the call, a recorded playback will be
YRC Worldwide Inc., the trucker whose credit-default swaps surged as bondholders guard against losses, said it can service its debt as long as business continues improving.
“Our customers are telling us a different side of the story versus what some of the analysts may say, or some of these CDS folks,” Chief Executive Officer James Welch said in an interview. “Our business is growing. We’ve
Sealed-bid auction for 61 excess LTL terminals across U.S. ended March 29
YRC Worldwide received “multiple bids” for more than 60 facilities put up for sale via a sealed-bid auction and is analyzing those offers, a company spokesperson said.
No final decisions have been made on the properties, which are mostly vacant. YRC Worldwide and NRC Realty & Capital Advisors launched the auction in
Minggu, 01 April 2012
More than 250 current and former employees of trucking company YRC Worldwide Inc. met Friday at Johnny Malloy’s sports pub on Buchholzer Boulevard in Akron to say goodbye and to see old friends.
“This is our family. The friendship will never end,” said Lee Cramer, 55, of Brimfield Township, who left the company in 2008 to move to California, but ended up staying in the area because of the