Winter weather is clouding the earnings outlook for transportation conglomerate Yellow Corp, according to president & CEO Bill Zollars.
The company's actual results might be at the lower end of its previously projected 15- to 20-cent earnings per share range for the first quarter of 2003, Zollars said.
"So far this year, there have only been nine days when all of our facilities have been open at the same time," Zollars said. "These weather disruptions will have a one-time effect on the first quarter and consequently our results are likely to be at the lower end of our guidance range."
Yellow also announced that its board of directors has been given the green light to repurchase up to $25 million worth of company common stock.