YRC Worldwide stands for more than Your Regional Carrier. Operating through subsidiaries, the holding company offers not only US regional transportation services but national and international services. Key subsidiaries include YRC Freight, which specializes in transporting goods for manufacturing, wholesale, retail, and government customers in the US, Canada, and certain international markets. YRC Regional Transportation provides of regional, next-day ground services in the US, Canada, Mexico, and Puerto Rico.
Most of YRC Worldwide's revenue comes from the US. However, a small portion -- less than 5% -- is derived from international markets, mainly Canada, Mexico, and Asia.
YRC Freight is the company's largest segment, raking in about two-thirds of its parent's sales. With nearly 300 owned and leased facilities and a fleet of about 9,500 tractors, YRC Freight has one of the largest networks of less-than-truckload (LTL) service centers, equipment, and transportation staff in North America. YRC Freight subsidiary, Reimer Express (also known as YRC Reimer), offers Canadian customers shipping options within the country, throughout North America, and around the world.
The YRC Regional Transportation business segment consists of New Penn, USF Holland, and USF Reddaway. Each provide next-day ground services in their respective regions.
YRC Worldwide formerly reported a Truckload segment, which included the operations of USF Glen Moore, a provider of US truckload services. Glen Moore concluded operations in December 2011 when some of its fleet was sold to a third-party and the rest was redeployed to YRC Freight and Regional Transportation companies. Truckload had accounted for only about 1% to 2% of sales in fiscal years 2011, 2010, and 2009.
YRC Worldwide has had a rough go since fiscal 2009 when revenues slipped by half of 2008's total. Revenues fell from $8.3 billion in 2008 to about $4.9 billion in 2009 due to slumping demand for freight shipping, and the company has yet to climb back up. Fiscal 2011 revenues stayed about flat at $4.9 billion. The company also has had recurring net losses, though the loss decreased to $354.5 million in 2011 from $619.5 million in 2009.
While the company is working to improve its liquidity and pare down more than $1.3 billion in debt, it also faces an uncertain future as factors like the rising cost of diesel, a prime component of trucking fleet costs, threaten it. YRC Worldwide, like its competitors, adjusts fuel surcharges in accordance with the cost of diesel.
As a result of difficult market conditions arising from the global economic downturn, YRC Worldwide, like many of its competitors, continues to reduce the size and scope of its operational networks, staff, and service offerings. A key part of the compnay's strategy today is sharpening its focus on North American LTL shipping, one of the better performing parts of its business. It is trying to regain a position as a North American LTL market leader by simplifying its portfolio and divesting underperforming and noncore operations. In March 2012 it announced an agreement to sell its interest in its China-based joint venture Shanghai Jiayu Logistics Co., Ltd. to its JV partner. – less
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