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YRC Worldwide (NASDAQ: YRCW) posted a $31.7 million consolidated operating loss on first-quarter revenue of $1.182 billion, which declined slightly from first-quarter 2018 revenues of $1.215 billion. In first quarter 2019, net loss was $49.1 million compared to a net loss of $14.6 million in first quarter 2018.
Zacks Consensus estimate was for an earnings per share (EPS) loss of $0.73, but the company reported a loss of $1.12 EPS.
The consolidated operating ratio for first quarter of 2019 was 102.7 compared to 100.4 in first quarter 2018. The operating ratio at YRC Freight was 102.8 compared to 100.9 for the same period in 2018. The Regional segment's first quarter 2019 operating ratio was 101.6 compared to 98.9 a year ago.
Labor uncertainty and severe weather impacted the company's revenues, CEO Darren Hawkins said. The company recently reached a new labor deal with three of its operating units. The contract covers workers at YRC Freight, YRC's long-haul LTL unit, and at Holland and New Penn Motor Express, two of its three regional units. Workers at the third YRC regional unit, Reddaway, are governed by a separate contract.
Zacks Consensus estimate was for an earnings per share (EPS) loss of $0.73, but the company reported a loss of $1.12 EPS.
The consolidated operating ratio for first quarter of 2019 was 102.7 compared to 100.4 in first quarter 2018. The operating ratio at YRC Freight was 102.8 compared to 100.9 for the same period in 2018. The Regional segment's first quarter 2019 operating ratio was 101.6 compared to 98.9 a year ago.
Labor uncertainty and severe weather impacted the company's revenues, CEO Darren Hawkins said. The company recently reached a new labor deal with three of its operating units. The contract covers workers at YRC Freight, YRC's long-haul LTL unit, and at Holland and New Penn Motor Express, two of its three regional units. Workers at the third YRC regional unit, Reddaway, are governed by a separate contract.