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10990 Roe Avenue
Overland Park, KS 66211
Phone 913 696 6108 Fax 913 696 6116
YRC Worldwide Reports Unaudited Fourth Quarter and Full Year 2018 Results
Fourth Quarter results include Operating Income of $59.4 million and Adjusted EBITDA of $106.8 million
OVERLAND PARK, Kan., January 31, 2019 YRC Worldwide Inc. (NASDAQ: YRCW) reported consolidated operating revenue for fourth quarter 2018 of $1.247 billion and consolidated operating income of $59.4 million, which included a $28.1 million net gain on property disposals. As a comparison, for the fourth quarter 2017, the Companys results included operating revenue of $1.209 billion and consolidated operating income of $22.1 million, which included a $3.6 million net gain on property disposals.
Consolidated operating revenue for the year ended December 31, 2018 was $5.092 billion with consolidated operating income of $147.2 million, which included a $20.8 million net gain on property disposals. This compares to full-year 2017 consolidated operating revenue of $4.891 billion with consolidated operating income of $119.0 million, which included a $0.6 million net gain on property disposals.
Our results in the fourth quarter and over the course of 2018 demonstrate successful execution against a plan focused on yield achievement, capital investment of our revenue equipment and the reduction of short-term rental costs and expensive local purchased transportation, stated Darren Hawkins, chief executive officer of YRC Worldwide.
Pricing discipline and favorable economic trends remained strong in the fourth quarter, resulting in year-over-year growth in operating revenue, operating income, revenue per hundredweight and revenue per shipment, both including and excluding fuel surcharge. Our consolidated fourth quarter operating revenue growth of 3.2% was largely attributed to the increase in revenue per hundredweight, excluding fuel surcharge, of 6.5% for YRC Freight and 6.8% for Regional Transportation, respectively, which marks the most significant year-over-year yield improvement in nearly four years for YRC Freight and more than ten years for Regional Transportation.
YRC Freight reported its highest fourth quarter operating income in four years and the Regional Transportation segment reported its highest fourth quarter operating income in five years, after excluding the $29.3 million operating gain associated with the partial sale of one of our YRC Freight Facilities, continued Hawkins.
Hawkins concluded, Throughout 2019, we will continue our intense focus on yield and investments in revenue equipment as we are committed to improving consolidated operating margins. The progress on our overall liquidity and leverage position provides a strong backdrop for our growth story in 2019 and beyond.
The following information was filed by Yrc Worldwide Inc. (YRCW) on Thursday, January 31, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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