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TRUCKING ANALYSIS * USA - YRC will report a rough fourth quarter
Kansas City,MO,USA -The Kansas City Business Journal -January 13, 2010: -- A trucking industry analyst said he expects haulers to continue to struggle through the first half of the year, at least, and predicted an “exceptionally weak” fourth-quarter report from YRC Worldwide Inc... Ed Wolfe, of Wolfe Research LLC, said in a research report Wednesday that YRC probably will report “massive (earnings per share) and cash-flow losses” for the fourth quarter, during which it continued to wrestle with lower shipments and lose customers worried about the company’s long-term viability... Many analysts still question whether the less-than-truckload market leader can survive because it faces more debt deadlines in April... For the industry in general, Wolfe said he saw signs that demand for trucking services was rising, but pricing remains very weak because of an overabundance of haulers. He doesn’t expect a turnaround until the second half of the year...* YRC Launches Public Campaign to Win Back Shippers. Online ads stress importance of YRC to 'competitive rates'
Overland Park, KAN,USA -The Journal of Commerce Online, by William B. Cassidy -Jan 13, 2010: -- YRC Worldwide is engaging its competitors in a fierce battle for freight and customer confidence after squelching fears of a near-term bankruptcy... It's the latest attempt by the nation's largest trucker to recapture business lost over the past three years, which saw YRC Worldwide rack up more than $2 billion in losses... With the exchange, YRC steered clear of a potential bankruptcy reorganization, with enough liquidity and reserves to roll into 2010, and fierce LTL competition... From 2006 through 2008 YRC Worldwide's revenue shrank from $9.9 billion to $8.3 billion, and it's expected to post about $6 billion in revenue in its 2009 results... Regaining business shippers shifted to other less-than-truckload carriers and adding new volume is now critical for the company's plans to reverse its fortunes in 2010... YRC is heralding the success of its debt swap in online advertising with The Wall Street Journal and The New York Times, stressing the importance of its survival to shippers... The company is offering shippers that tender multiple shipments $50 off their next 10 less-than-truckload shipments worth $150 or more... Shippers attach $50 discount coupons to the "special instructions" section of their bills of lading to receive the special promotional discount... (Photo from farm3.static.flickr)
Labels: trucking industry analysis USA
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