The Overland Park, Kan.-based less-than-truckload holding company missed analyst expectations, posting a loss per share of $0.23 for the fourth quarter of 2016.
Source: YRC Worldwide
For the full year of 2016, YRC Worldwide posted a net income of $21.5 million.
YRC Worldwide had a net loss of $7.5 million for the fourth quarter of 2016, much milder than the fourth quarter of 2015’s net loss of $23.5 million, according to the company’s latest financial statements.
However, the company’s $0.23 loss per share for Q4 2016 was still worse than expected, with Thompson Reuters projecting the company would have a loss per share of $0.12 for the quarter.
On a bright note, the less-than-truckload holding company’s consolidated operating revenues for the quarter ticked up 0.5 percent year-over-year to $1.15 billion.
For the full year, YRC Worldwide reported a net income of $21.5 million, compared to a net income of $700,000 for 2015, while consolidated operating revenues totaled $4.7 billion, slipping 2.8 percent from 2015.
Business reinvestment continued in 2016 with $100.6 million in capital expenditures and new operating leases for revenue equipment with a capital value equivalent of $152.5 million, for a total of $253.1 million.
Looking ahead, investment bank and analyst Stifel said it is reducing its EPS estimates for YRC Worldwide for 2017 and 2018 from $1.41 and $1.52 to $1.20 and $1.50, respectively. Stifel attributed the estimate reduction to higher interest costs, partially offset by a slight increase in tonnage growth estimates.
