YRC Worldwide Earning Surges

Revenue is a bit higher from year-ago levels.
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YRC Worldwide (YRCW) - Get Report, a provider of transportation services, said its third-quarter earnings rose 12.31% from the year-ago period because of lower expenses.

The company earned $95.78 million, or $1.64 a share, in the quarter, compared with $85.28 million, or $1.42 a share, a year ago.

Third-quarter revenue rose 3.19% from a year ago to $2.57 billion.

During the quarter, the operating income rose 13.27% from a year ago to $177.59 million and operating margin increased 62 basis points to 6.91%.

The company expects full year earnings between $5.45 and $5.55, implying fourth-quarter earnings of $1.40 to $1.50, vs. analysts' expectations of $5.67 a share. Analysts expect fourth-quarter earnings of $1.59 a share.

The company is targeting consolidated revenue of about $10 billion for the full year vs. analysts' expectation of $10.19 billion.

"We delivered a solid quarter with record revenue and earnings per share. Our operating companies continued to execute well while effectively reducing the cost base," the Overland Park, Kan.-based company said.

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