Previous Statements by YRCW
» YRC Worldwide Management Discusses Q3 2011 Results - Earnings Call Transcript
» YRC Worldwide's CEO Discusses Q2 2011 Results - Earnings Call Transcript
» YRC Worldwide's CEO Discusses Q1 2011 Results - Earnings Call Transcript
» YRC Worldwide's CEO Discusses Q4 2010 Results - Earnings Call Transcript
A quick fact sheet on YRCW, still a $5 billion dollar company in spite of the things that have occurred at the company over the last several years, 431 locations in U.S. and Canada, 15,000 trucks; 51,000 trailers; $14.1 million annual tons, almost $22 million shipments, and we drive about 1.1 billion miles a year.Global history on the company, for those of you that are not familiar with the companies that make up YRC Worldwide, virtually all the companies were founded between 1919 and 1931, within a 12-year period; Reddaway, Yellow, Holland, Roadway and New Penn all came into existence. As you can see to the timelines, there really wasn’t much going on between 1930, and really as we approached 2000 in lot of ways. Obviously, a lot of activities started occurring in the 2000 timeframe, arguably maybe some bad activity as the things have played out, but the floor of activity with acquisitions of Roadway and then USF. Then the start of (inaudible) ventures into China, and then what happened with the economy, with the over leverage situation, and then the July 11; or July 11 the transaction and the things that have occurred since then. From a market share standpoint, if you look at the regional carriers and YRCW, we still command about 23%, 24% of the market share. So we’re still certainly a viable player in this industry, and a company that is certainly on the move again and having good progress with our customer relationship rebuild, but still a major player in the industry. Descriptions again, we'll go into this a little bit more in detail. YRC Freight again the combination of Yellow and Roadway. National network the regional carriers are again New Penn, Reddaway and Holland. If you look at Freight almost 200,000 customers, 282 service centers, 15,600 dock doors. Our average length of haul at Freights about 1300 miles, average weight per shipment is around 950 pounds, approximately 22,000 employees an average days in transit is 3.7.
You can see down at the bottom, how we have work towards becoming more of a two day and beyond, a carrier with the network changes that we've made over the last several months 60% of our business is delivered in three days or less, but 42% is four days or more. YRC Freight they are really concentrating on becoming more of a 500 to 3500 miles length of haul carrier and have less in their emphasis on next day even though as you can see, we still do a next day business, but still broadly represented across the United States, Canada and Mexico.If you look at the regional transportation group, Reddaway is primarily a 11 Western States Company, Holland, Midwest and Southeast, New Penn, a legendary carrier in the Northeast. 114 facilities about 3900 dock doors, average length of haul 500 miles. Their average weight per shipment at the regional group is about 1300 pounds and a 98% of their shipments are delivered in two days or less. New Penn’s average length of haul is really the shortest of the three and as primarily over in that carrier, but all three companies give outstanding service and their footprints and really are likes what’s happening at the regional companies. As far as the July 2011 transaction, new board was placed. I came on board, July 27, 2011, quickly moved to do some things differently at the corporate office from a structure standpoint. I’ll cover that here more in just a second. Additional liquidity was provided at that time for the company and the maturities on all major credit facilities were extended to late 2014 to early 2015. Really one of the things that we wanted to try to accomplish was to get the company very focused on what we do best, and no matter how hard this company had tried to diversify away from its original roots, 90%, 95% of the revenue always came from trucking, and about 98% of the profits back in the day always came from trucking. Read the rest of this transcript for free on seekingalpha.com