YRC Worldwide has reported its financial results for the fourth quarter and for the full year 2014. For the full year it reported revenue of $5.07bn, an increase of 4.11% over the prior year’s result. The company also recorded 2014 EBITDA of $244.5m, a 4.08% decrease from 2013. Accordingly YRC Worldwide’s margin stood at 4.88%.
The growth in revenue came as a result of growth at both of YRC’s operating divisions, with YRC Freight recording 3.2% growth and the smaller Regional Transportation division reporting 5.9% growth.
For the fourth quarter YRC Worldwide reported revenue of $1.22bn, an increase of 0.83% over the fourth quarter of 2013. The company also recorded Q4 EBITDA of $77.0m, an increase of 30.95% over the prior comparable period. Accordingly YRC’s fourth quarter margin stood at 6.31%.
The growth in fourth quarter revenue was driven primarily by the performance of YRC Freight which recorded growth of 2.42%. This was the result of higher yields brought about by more favourable pricing and a focus on profitable contracts over volumes. Revenue growth at YRC Freight was offset by a decline of some 2.04% in the smaller Regional Transportation segment. The decline was attributed to one off expenses and the impact of four fewer working days in the quarter than in the fourth quarter of the prior year.
These contrasting performances were reflected in the changes to EBITDA which saw growth of 152.87% at YRC Freight and a decrease of 18.43% in the Regional Transportation segment. However the overall result was still positive and was attributable to the focus on profitability at YRC Freight.
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