The first quarter is typically the slowest period of freight demand for LTL carriers. With a few notable exceptions, that was reflected in first quarter earnings reports of the major publicly held LTL carriers.
The notable exception was YRC Freight, which operates the third-largest LTL concern in its long-haul unit and the eighth-largest regional operation with its New Penn, Holland and Reddaway units.
YRC was able to nearly quadruple its year-over-year operating income to $13.4 million compared with $3.7 million for first quarter 2015. Its adjusted EBITDA (earnings before interest, debt, taxes and amortization) increased to $62.9 million, a 7% improvement compared to first quarter 2015. Parent YRC Worldwide had total revenue of $1.12 billion, virtually the same from the $1.18 billion a year ago.