LTL

YRC Worldwide, a holding company that collectively controls about 10% of the $46 billion less-than-truckload (LTL) marketplace, is trimming its quarterly losses and going back to its branding roots. It is resurrecting the venerable “Yellow” brand.

Revenue—at $4.22 billion—was up 1.7%, and net income attributable to common shareholders—at $21 million—fell 51.2%. Operating income—at $223 million—was down 2.7%. Diluted earnings per share came in at $0.83 compared to $1.14 a year ago, and adjusted quarterly EBITDA—at 439 million—was up less than 1% and was the best third quarter EBITDA in its history, coming in ahead of Wall Street expectations by $87 million, or 25%.

Yellow’s finances have improved during the third quarter ended Sept. 30. Operating revenue was $1.183 billion and operating income was $19.4 million. In comparison, operating revenue in the third quarter of 2019 was $1.257 billion and operating income was $23.8 million, which included a $1 million net loss on property disposals.

While we all know 2020 is truly a year unlike any other, there are many themes that are indicating that will also be the case for this year’s Peak Season. That was made clear on the “Code Red” webcast hosted last week by NASSTRAC, CSCMP, and TranzAct Technologies.

Chicago-based project44 has rolled out various new capabilities to its offerings, with a sharp focus on global supply chain visibility, in order to help shippers attain higher levels of performance, productivity, and customer experience.

Asset-light freight and logistics services provider Forward Air Corporation announced it is rolling out less-than-truckload (LTL) service in two new markets: Columbia, Missouri and Roanoke, Virginia. This is part of the company’s ongoing growth strategy focused on both inorganic investments, which include acquisitions, and organic infrastructure investments like its LTL expansion efforts.

While technology is a key part of digital transformation in logistics and transportation, strategy, structure and processes must be aligned accordingly to create value for the company and its supply chain partners.

The company said that this new 266,585 square-foot facility is comprised of a less-than-truckload (LTL) cross-dock, full-service fleet maintenance garage, office, and warehouse space. And it added that in order to meet surges in shipping and COVID-19-driven e-commerce demand, the company has filed permitting for a 100,000 square-foot warehouse.

ODFL reported that revenue per day increased 1.3% from August 2019 to August 2020, which it attributed to a 2.4% increase in daily LTL tonnage and was partially offset by a decrease in LTL revenue per hundredweight.

Logistics Management Group News Editor Jeff Berman recently caught up with Avery Vise, FTR Transportation Intelligence Vice President of Trucking. They discussd various themes and trends in the trucking sector, including market conditions, rates and pricing, and the impact of COVID-19 on trucking, among others.

Learn all you need to know about shared truckload.

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YRC Worldwide (YRCW) said that its subsidiary, YRC Freight, the fourth largest less-than-truckload (LTL) carrier, has expanded its Regional Next-Day Service to the mid-South region and also into Waco, Texas. The company said that offering up more two-day lanes between the mid-South and Texas serves as the most recent example of YRC’s enterprise network optimization strategy.

YRC lost $37.1 million in the second quarter on revenue of $1.015 billion, compared with a $23.6 million loss on $1.273 billion in the year-ago second quarter. Operating loss was $4.6 million, which included a $6 million net gain on property disposals. By comparison, operating revenue in the second quarter of 2019 was $1.273 billion and operating income was $14.3 million, which included a $6.2 million net gain on property disposals.