YRC Worldwide provided an update on second quarter results July 12:
> We expect second quarter adjusted EBITDA in a range of $35 million to $45 million, excluding YRC Logistics, which will be reported as discontinued operations.
> Even including those charges, we expect to exceed the $5 million covenant for our lending agreement
> At June 30, our cash and cash equivalents, unrestricted availability and restricted revolver reserves were $279 million compared to $241 million on March 31.
> Tonnage per day for second quarter was up 11 percent for national transportation and up 15.2 percent for our regional brands over the first quarter.
> Full second quarter results will be announced on Aug. 3.
Summary
Our improved performance
, measured year over-year and from a lower revenue base, is showing in our operating results.
Economic forecasts generally indicate a stabilizing economy during 2010 with modest growth prospects. Our customer research reflects this same finding. In a recent study of 5,700 YRC Worldwide customers:
> 62 percent said they were optimistic their business volumes would increase this year.
> 85 percent said they intended to increase or maintain YRC Worldwide shipments.
In addition, we continue work to:
> Improve cash flow and liquidity
> Build our brands and create total solutions for global supply chain needs
> Create an exceptional customer experience
Grüße |
