The less-than-truckload holding company reported a 184.5% year-over-year jump in operating income in the second quarter of 2015.
YRC Worldwide Inc. had consolidated operating incomes of $56.9 million in the second quarter of 2015 compared to the $20 million reported in the second quarter of 2014, according to the company’s most recent unaudited financial statements.
The massive increase was due to the company’s success in executing its freight mix and yield improvement strategy, along with safety performance improvements, YRC Worldwide CEO James Welch said.
The less-than-truckload holding company had consolidated operating revenues of $1.26 billion for the second quarter, down from $1.32 billion the previous year.
YRC Freight, the carrier’s less-than-truckload division, reported an operating income of $22.5 million compared with the segment’s $0.3 million loss in the prior year’s second quarter. The division reported operating revenues of $795.2 million compared to $842.1 million last year.
YRC’s regional transportation division reported operating income of $37.7 million and operating revenues of $463.2 million for the quarter. In the second quarter of 2014, the division had operating income of $23.2 million and operating revenues of $475.5 million.
“We continued to reinvest in our fleet, make incremental investments in high return technology projects and are nearing completion of the in-cab safety solutions pilot for our existing fleet. We are accomplishing all of this while improving our liquidity,” said Welch. “However, as we move forward, we must continue to invest in our most valuable asset, our employees, through continuous training, employee engagement strategies and communication. We believe these investments will help drive productivity, service and quality improvements and allow us to continue to build on our current operating momentum and results.”
YRC Worldwide income soars in Q2
