YRC projects profit increase

YRC Worldwide predicts profits will be higher than previously forecast for the second quarter of this year, boosting earnings per share projections to between $1.53 and $1.58 from the previous estimate of $1.45 to $1.50 per share.

However, Bill Zollars, chairman, president & CEO of YRC Worldwide, stressed that those earnings projections exclude a four-cent per share charge to cover ongoing reorganization expenses and net gains on property disposals. Including these costs, projections should increase only to $1.49 to $1.54 per share in the second quarter.

“Overall the quarter is coming in better than our initial expectations," said Zollars. “In our view the economy is still healthy, and while our business volumes and cost management remain on track, pricing has been slightly better than we originally expected.”