Less-than-truckload carrier plans to rejuvenate fleet and remain focused on price over volume.
YRC Worldwide Inc. (Nasdaq: YRCW) missed Wall Street analyst expectations for the third quarter as its regional carrier business underperformed. Chief executive Darren Hawkins says the driver shortage forced the less-than-truckload carrier to turn away customers during the quarter.

The Overland, Kansas-based YRC saw revenue grow year-on-year 4 percent to $1.3 billion, while net income stayed flat at $2.9 million for the quarter. Operating ratio for the company rose 30 basis points to 96.8 percent for the quarter.

But operating expenses rose at a slightly faster pace. Hawkins says the company saw a "single significant third-party claim and higher than expected vehicle maintenance, which we addressed with the on-boarding of new equipment."