YRC Worldwide profits rise despite a drop in revenues

Trucking company YRC Worldwide Inc. posted a second-quarter profit despite a 4.6 percent drop in sales from a year ago, when it lost money.

The Overland Park-based company said it earned $26 million, or 80 cents a share, contrasted with a loss of $4.9 million, or 16 cents a share, a year ago.

Revenue of $1.26 billion was down 4.6 percent from $1.32 billion in last year’s second quarter.

Chief executive James Welch said the company has improved its mix of freight and the financial yield it produces. It has led to less revenue but more profitable revenue.

“Our goal has been to secure the right freight in the right lanes at the right price,” Welch said in a conference call with analysts.

A better safety record, he said in the company’s announcement, also improved operations.

Operating profits, which excludes the company’s substantial interest payments on debt, totaled $56.9 million, up from $20 million a year ago.

This story was originally published July 30, 2015 at 3:38 PM with the headline "YRC Worldwide profits rise despite a drop in revenues."