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10990 Roe Avenue
Overland Park, KS 66211
Phone 913 696 6100 Fax 913 696 6116
YRC Worldwide Reports Third Quarter 2017 Results
Results include Operating Income of $40.1 million and Adjusted EBITDA of $81.4 million
OVERLAND PARK, Kan., November 2, 2017 YRC Worldwide Inc. (NASDAQ: YRCW) reported consolidated operating revenue for third quarter 2017 of $1.251 billion and consolidated operating income of $40.1 million, which included a $1.3 million loss on property disposals. As a comparison, for the third quarter 2016, the Company reported consolidated operating revenue of $1.221 billion and consolidated operating income of $38.8 million, which included a $0.2 million loss on property disposals.
|||Net income in third quarter 2017 was $3.0 million compared to $13.9 million in third quarter 2016.|
|||On a non-GAAP basis, the Company generated consolidated Adjusted EBITDA of $81.4 million in third quarter 2017 compared to $85.5 million in the prior year comparable quarter (as detailed in the reconciliation below).|
|||Last twelve month (LTM) consolidated Adjusted EBITDA is $273.4 million compared to $305.8 million in 2016.|
|||The total debt-to-Adjusted EBITDA ratio for third quarter 2017 was 3.52 times compared to 3.45 times for third quarter 2016.|
|||Reinvestment in the business continued during third quarter 2017 with $31.9 million in capital expenditures and new operating leases for revenue equipment with a capital value equivalent of $15.9 million, for a total of $47.8 million.|
|||The consolidated operating ratio for third quarter 2017 of 96.8 was consistent with the third quarter 2016. The operating ratio at YRC Freight was 97.4 compared to 97.3 for the same period in 2016. The Regional segments third quarter 2017 operating ratio was 95.4 compared to 95.1 a year ago.|
|||Third quarter 2017 tonnage per day increased 0.7% at YRC Freight and 4.0% at the Regional segment compared to third quarter 2016.|
|||At YRC Freight, including fuel surcharge, third quarter 2017 revenue per hundredweight increased 3.4% and revenue per shipment increased 3.8% when compared to the same period in 2016. Excluding fuel surcharge, revenue per hundredweight increased 2.4% and revenue per shipment increased 2.8%.|
The following information was filed by Yrc Worldwide Inc. (YRCW) on Thursday, November 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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