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YRC Worldwide Inc. (NASDAQ:YRCW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7%.
YRC Worldwide Inc. Earnings Cheat Sheet
Results: Net income increased to $35.3 million ($4.53 per diluted share) in the quarter versus a net loss of $87.53 million in the year-earlier quarter.
Revenue: Rose 37.64% to $1.67 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: YRC Worldwide Inc. reported adjusted net income of $4.53 per share. By that measure, the company beat the mean analyst estimate. It beat the average revenue estimate of $1.18 billion.
Quoting Management: “Our year-over-year operating improvement is primarily due to our focus on customer mix management, pricing discipline, productivity improvements, and a decrease in safety related costs,” stated James Welch, chief executive officer of YRC Worldwide. “In just 18 months after a complete restructuring of the senior leadership team, the company posted positive consolidated operating income for the first time in six years and exceeded our forecast for the year. Obviously, 2012 was a year of significant progress for the organization. We eliminated all distractions that have been keeping this company from focusing on what we do best, which is providing premium services to both the regional and long-haul segments of the LTL market. In 2013, we must continue to build on this momentum and execute against our strategic and operational objectives. Our dedicated employees are driven to provide high-quality, consistent service to our customers and they are working hard to regain our position as one of the leading North American LTL carriers,” said Welch.
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