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Press Release: YRC Worldwide Provides Initial Look at Fourth Quarter 2018 Results


OVERLAND PARK, Kan., Jan. 11, 2019 (GLOBE NEWSWIRE) -- YRC Worldwide Inc. (NASDAQ: YRCW) reported certain operating results for the fourth quarter 2018.For the three months ended December 31, 2018, the Company anticipates reporting consolidated operating revenue of approximately $1.2 billion to $1.3 billion and consolidated operating income of approximately $55.0 million to $65.0 million, which will include an approximate $28.0 million gain on property sales. This compares to consolidated operating revenue for the three months ended December 31, 2017 of $1.2 billion with consolidated operating income of $22.1 million, which included a $3.6 million gain on property disposals.On a non-GAAP basis, the Company anticipates reporting fourth quarter consolidated Adjusted EBITDA of approximately $100.0 million to $110.0 million compared to consolidated Adjusted EBITDA of $58.5 million in fourth quarter 2017 (refer to the reconciliation of operating income to Adjusted EBITDA below).As of December 31, 2018, the Company anticipates reporting cash and cash equivalents and Managed Accessibility (as defined in the Company’s most recently filed periodic reports on Forms 10-K and 10-Q) under its ABL Facility of more than $200.0 million compared to $118.3 million as of December 31, 2017.“I am proud of the year-over-year operational improvement in our fourth quarter,” stated Darren Hawkins, chief executive officer of YRC Worldwide. “At the beginning of the year, we laid out our strategy to improve our yield metrics by effectively pricing freight and balancing our network capacity, as well as to continue reinvestment in our tractor and trailer fleet. Our 2018 results demonstrate successful execution in these areas and we remain committed to these objectives moving forward. “I believe we have a solid foundation to continue improving our operating results. Going into 2019, our liquidity position is strong. We will continue our focus on yield discipline, realizing returns on our investments in revenue equipment, and increasing the coverage of our customers’ supply chain needs with HNRY Logistics,” concluded Hawkins.Review of Financial ResultsYRC Worldwide Inc. will host a conference call with the investment community on Thursday, January 31, 2019, beginning at 9:30 a.m. ET. Fourth quarter 2018 financial results will be released the same day, January 31, 2019, before the market opens.A live audio webcast of the conference call and pre...


Posted: 2019-01-11 14:05:00

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