YRC Worldwide Posts $62 Million Loss

YRC Worldwide reported a $62 million third-quarter net loss as revenue dropped 5.7 percent from a year ago at the nation's largest less-than-truckload operator.

The company's sales totaled $1.13 billion. It had $3.2 billion in sales in the first nine months of 2010, compared with $3.8 billion in the same period last year.

The troubled company narrowed its losses substantially compared with 2009 results but saw its net loss rise from $9.5 million in the second quarter.

By The Numbers: U.S. Truck Shipping Costs.

It also reported a more rapid recovery at its regional carriers -- Holland, New Penn and Reddaway -- than at long-haul less-than-truckload carrier YRC.

YRC National, which includes YRC in the U.S. and YRC Reimer in Canada, had an operating loss of $21.6 million on $755 million in revenue for the quarter.

The former Yellow and Roadway lost $122 million in the third quarter a year ago.

YRC Regional reported a net profit of $8.6 million on $354.2 million in revenue.

There were some signs of improvement from the second quarter. Tonnage increased 1.2 percent quarter-to-quarter at YRC National, and shipments per day rose 1.6 percent. Revenue per hundredweight increased 0.3 percent.

At YRC Regional, tonnage was up 2.1 percent from the second quarter, while shipments rose 1.8 percent and revenue per hundred weight dropped 2.5 percent.

-- Contact William B. Cassidy at wcassidy@joc.com.