YRC Worldwide posts sharply wider 1st-quarter loss on hefty charges, much lower revenue

YRC Worldwide 1Q loss balloons as revenue falls

OVERLAND PARK, Kan. — Trucking and logistics company YRC Worldwide says its first-quarter loss ballooned as it booked hefty restructuring charges and shipments declined amid the dismal economy.

The Overland Park, Kan.-based company on Thursday reported a loss of $257.4 million, or $4.34 per share, for the three months ended March 31. By comparison, it lost $46.4 million, or 82 cents per share, during the same period a year ago.

Excluding one-time charges, YRC Worldwide Inc. said it lost $2.63 per share — widely missing the $1.90 per-share loss expected by analysts surveyed by Thomson Reuters.

Revenue declined 33 percent to $1.50 billion, falling below the $1.61 billion expected by analysts.