YRCW Earnings: Narrows Loss, Falls Short of Estimate

YRC Worldwide Inc. (NASDAQ:YRCW) reported its results for the fourth quarter. YRC Worldwide is a holding company that through its subsidiaries offers a range of transportation services.

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YRC Worldwide Earnings Cheat Sheet for the Fourth Quarter

Results: Loss narrowed to $85.5 million (loss of $12.40 per diluted share) from $102.2 million (loss of $643.56 per share) in the same quarter a year earlier.

Revenue: Rose 6.4% to $1.19 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: YRC Worldwide Inc. fell short of the mean analyst estimate of a loss of $9.92 per share. Analysts were expecting revenue of $1.19 billion.

Quoting Management: “We are experiencing increased efficiencies at each of our operating companies. Our employees are responding extremely well to our operating changes to regain a leading position in the LTL industry, and earlier this week, our senior credit facility lenders gave us a unanimous vote of confidence by amending those facilities to increase our liquidity by allowing us to retain the proceeds from the disposition of some excess real estate and increasing our financial flexibility for the foreseeable future. This is an exciting time at YRCW as our team now has the financial flexibility and the tools to take this business to the next level,” stated James Welch, chief executive officer of YRC Worldwide.

Key Stats:

The company has now fallen short of estimates in the last two quarters. In the third quarter, it missed expectations by $1.48 with a loss of $9.92 versus a mean estimate of a loss of $8.44 per share.

Looking Forward: The outlook for the company’s next-quarter performance in increasingly unfavorable. Over the past sixty days, the average estimate for the first quarter of the next fiscal year has dipped to a loss of $4.02 per share from a loss of $3.04. Down from a loss of $19.83 per share sixty days ago, the average estimate for the fiscal year is now a loss of $21.65.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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