YRC Worldwide sees no change in 2Q earnings

YRC's Chairman and CEO Bill Zollars added he still had concerns about fuel costs’ effect on the general economy but said the company is increasing efficiency at its regional and national operations.

The Associated Press

6/18/2008

OVERLAND PARK, Kan. — Trucking and logistics company YRC Worldwide Inc. on Tuesday reiterated its guidance for the second quarter, saying it’s been able to ride out the difficult economy so far.

The company said it expected to earn between 30 cents and 40 cents per share, not including a one-time gain of 34 cents per share reflecting changes as the company moves toward a single system for providing employee benefits and a 9-cent-per-share charge to cover accident costs.

“Our operational execution has been strong, and we are building momentum in spite of the challenging environment,” Bill Zollars, the company’s chairman and chief executive, said in a release.

Analysts surveyed by Thomson Financial expect earnings of 29 cents per share.

Zollars added he still had concerns about fuel costs’ effect on the general economy but said the company is increasing efficiency at its regional and national operations.

YRC Worldwide is the nation’s largest less-than-truckload carrier, meaning it combines shipments from several customers into single loads.

The company’s shares gained 77 cents to $16.77 in trading Tuesday before the company announced the updated guidance.