YRC Worldwide reports a quarterly profit and an increase in revenue

YRC Worldwide Inc. on Thursday reported a third-quarter profit and a nearly 6 percent increase in revenue as its major trucking operations improved performance and hauled more freight.

Overland Park-based YRC’s quarterly profit of $1.2 million represented a sharp turnaround from last year’s third-quarter loss of $44.4 million.

The trucking company, which operates YRC Freight and several regional companies, said revenue climbed to $1.32 billion in the quarter from $1.25 billion in the third quarter last year.

After negotiating workplace and wage concessions from union employees in early 2014, YRC has concentrated on improving its freight-hauling operations, gaining new customers and returning to consistent profitability.

The company’s YRC Freight national freight-hauling division reported a 4.2 percent increase in third-quarter operating revenues compared with the same quarter last year. Both pricing and volume improved in the quarter, and it had its best September since 2008.

“I believe we’re in a better place than ever in our recent history,” said James Welch, YRC’s chief executive officer, in a conference call with analysts.

YRC’s regional transportation group, which includes Holland, New Penn and Reddaway, reported an 8 percent increase in third-quarter operating revenue compared with the third quarter last year.

Shares in YRC fell $1.03, or 5.36 percent, to $18.20. The stock is up 4.78 percent this year.

This story was originally published October 30, 2014 at 3:25 PM with the headline "YRC Worldwide reports a quarterly profit and an increase in revenue."