Trucking company YRC profits fall but beat views

YRC earned $36.3 million, or 62 cents per share, during the period ending June 30, versus $55.4 million, or 95 cents per share, in the same period a year ago.

The Associated Press

7/25/2008

OVERLAND PARK, Kan. — Trucking company YRC Worldwide Inc. said Thursday that second-quarter profits fell more than 34 percent as the slow economy continued to shrink truck loads.

The Overland Park, Kan.-based carrier earned $36.3 million, or 62 cents per share, during the period ending June 30, versus $55.4 million, or 95 cents per share, in the same period a year ago.

Not including one-time items, the company says it would have earned 39 cents per share, beating the 29 cents per share expected by analysts surveyed by Thomson Financial.

Revenue during the quarter fell 3.6 percent to $2.4 billion, in line with analyst expectations.

The results were announced after the close of regular stock trading, during which YRC’s shares fell 73 cents to close at $20.29. The stock rose 51 cents to $20.80 in after-hours trading.