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YRC Freight, a subsidiary of YRC Worldwide (NASDAQ: YRCW), has earned the FreightCenter 2019 Diamond Partner of the Year award. This recognition highlights YRC Freight's exceptional flexibility and reliability in supply chain logistics. The award is based on customer and employee surveys evaluating service quality and satisfaction. In 2019, YRC also received accolades from Inbound Logistics and Women in Trucking, being named a Top 100 Trucker and a Top Company for Women in Transportation. This demonstrates YRC's commitment to excellence in the logistics sector.
YRC Worldwide Inc. (NASDAQ: YRCW) announced a conference call scheduled for August 3, 2020, at 5:00 p.m. ET to discuss its second quarter 2020 results. The financial results will be released the same day after market close. Investors can access the live call or replay via the company's website.
YRC Worldwide operates a comprehensive network of less-than-truckload (LTL) companies, including Holland, New Penn, Reddaway, and YRC Freight, offering flexible supply chain solutions across North America.
Holland, a subsidiary of YRC Worldwide (NASDAQ: YRCW), received the 2019 Exceptional Performance Award from Uline, recognizing its outstanding service and performance. This accolade highlights Holland's commitment to customer satisfaction and the strong relationships it has built with Uline. YRCW's Chief Customer Officer, Jason Bergman, expressed gratitude for the recognition, attributing it to the dedication of their employees. Holland is known for having one of the lowest claim ratios in the industry and provides extensive next-day service in the Central U.S., Southeast, and Midwest.
YRC Worldwide (NASDAQ: YRCW) announced that its subsidiary Holland received the 2019 Regional LTL Carrier’s Platinum Award from Echo Global Logistics. This recognition marks the seventh award for Holland and the second Platinum Award, highlighting its superior service quality and performance. Holland also earned other accolades in 2019, including the Amazon Top LTL On-Time Performance Award and recognition from Total Quality Logistics and Schneider Logistics. With a strong focus on next-day services and low claim ratios, Holland continues to excel in the logistics sector.
YRC Worldwide Inc. (YRCW) announced a $700 million loan from the U.S. Department of the Treasury under the CARES Act to mitigate the impact of COVID-19. The funding will address deferred employee healthcare, pension costs, and support capital investments. CEO Darren Hawkins emphasized the company's critical role in the supply chain, with 30,000 employees continuing operations during the pandemic. The financing includes two tranches, each maturing on September 30, 2024, and grants the Treasury 29.6% equity ownership in YRCW, subject to existing credit facility amendments.
On June 18, 2020, YRC Freight was honored as the National LTL Carrier of the Year by NASSTRAC for the fifth time. This recognition highlights YRC Freight's commitment to excellence in transportation services, determined through an online survey evaluating performance in customer service, operational excellence, and technology leadership among others. Additionally, in 2019, the company received accolades from Inbound Logistics and Women in Trucking as a Top 100 Trucker and a Top Company for Women in Transportation, further solidifying its reputation in the logistics industry.
On June 10, 2020, YRC Worldwide (NASDAQ: YRCW) celebrated Holland driver Herschel Evans, who received the TravelCenters of America Citizen Driver Award. This award honors professional drivers exemplifying safety, citizenship, and community leadership. Evans, a dedicated charity supporter, selected the Pediatric Brain Tumor Foundation for a $2,500 donation. He has an impressive driving record with 3.1 million accident-free miles and contributes as a trainer for new drivers. This recognition marks the seventh annual Citizen Driver Award, with only two recipients in 2020.
YRC Worldwide (NASDAQ: YRCW) reported significant declines in key operating metrics for April and May 2020 compared to 2019. Shipments per day fell by 24.0% in April and 15.4% in May, leading to an overall quarterly decline of 19.8%. Tonnage per day dropped by 22.6% in April and 14.5% in May, resulting in an 18.6% decline QTD. Despite slight increases in weight per shipment and revenue metrics, the overall trends point towards a challenging operational landscape amidst economic pressures.
