YRC Worldwide provides quarter-to-date operating data for third quarter 2018

YRC Worldwide Inc. reported certain operating metrics for the first two months of third quarter 2018.

At YRC Freight, July 2018 tonnage per day decreased approximately 3.8% compared to July 2017 and August 2018 tonnage per day decreased approximately 3.1% compared to August 2017. Quarter-to-date through August 2018, revenue per hundredweight increased approximately 7.0% compared to a year ago. Revenue per shipment increased approximately 7.8% quarter-to-date through August 2018, compared to the same period last year.
At the Regional segment, July 2018 tonnage per day decreased approximately 6.3% compared to July 2017 and August 2018 tonnage per day decreased approximately 3.4% compared to August 2017. Quarter-to-date through August 2018, revenue per hundredweight increased approximately 8.3% compared to a year ago. Revenue per shipment increased approximately 11.3% quarter-to-date through August 2018, compared to the same period last year.
Additionally, as previously reported, third quarter results will include a non-union pension settlement charge of $7.2 million at YRC Freight. The non-cash settlement charge is related to the payment of lump sum benefits in 2018, which are paid from plan assets and therefore do not impact the Company’s cash balance or liquidity. The non-cash pension settlement charge is excluded from operating income and Adjusted EBITDA, consistent with the Company’s term loan agreement.
“Our results are consistent with our strategy to focus on yield improvements and secure the optimal freight mix for our network. While our revenue per hundredweight statistics remain strong at each of our operating companies, they are being offset by the impacts of additional heavier-weight shipments in our network. We believe our ongoing commitment to reinvest in our equipment will position us to effectively deliver quality solutions to our customers and continue to meet the sustaining demand for freight services in this strong economic environment,” commented Darren Hawkins, chief executive officer of YRC Worldwide Inc.