Archive for Thursday, March 23, 2006

YRC Worldwide cuts forecast

March 23, 2006

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Trucking company YRC Worldwide Inc. on Wednesday said it was lowering its expectations for the first quarter, saying smaller volumes and cost overruns were cutting into the bottom line.

The Overland Park-based company, which changed its name from Yellow Roadway Corp. earlier this year, said it now expected earnings of between 65 cents and 70 cents per share. YRC had earlier forecast earnings of between $1 and $1.05 per share.

Analysts surveyed by Thomson Financial have been expecting earnings of $1.05.

YRC made its announcement after the markets closed Wednesday. During trading, the company's shares lost 17 cents to close at $45.29 on the Nasdaq Stock Market. They were down $4.96, almost 11 percent, to $40.33 in aftermarket trading.

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