YRC Worldwide posts a stronger fourth-quarter profit of $6.2 million

Trucking giant YRC Worldwide Inc. on Thursday reported a $6.2 million profit in the final months of 2014 as its national freight business turned in stronger operating results.

The fourth-quarter profit compared with a $400,000 profit in the same quarter a year earlier.

Revenue for the Overland Park-based company reached $1.2 billion, up slightly from the last three months of 2013.

The quarterly results included a 2.4 percent increase in revenue at YRC Freight, the company’s national less-than-truckload operation. At the same time, the segment recorded an operating profit of $24.5 million, compared with an operating loss of $15.4 million in the year-earlier period.

YRC said its national operation carried fewer tons of freight in October, November and December than a year earlier. But the drop reflected a shift toward more profitable shipments rather than simply a loss in freight volume.

“YRC Freight continues to improve profitability by executing on its operational initiatives and significantly increasing technology investments,” YRC Worldwide chief executive James Welch said in the announcement.

YRC’s regional truck hauling revenue was down 2 percent in the quarter when compared with a year ago, while operating earnings fell 53 percent to $10.6 million.

Welch also said that the drop in diesel prices would lower the fuel surcharge the company collects and that this would be “a headwind” for the entire industry.

For all of 2014, YRC Worldwide lost $67.7 million, compared with a loss of $83.6 million in 2013.

This story was originally published February 5, 2015 at 3:26 PM with the headline "YRC Worldwide posts a stronger fourth-quarter profit of $6.2 million."