This departure does not reflect any disagreements about the Company’s past financial reports or disclosures. The Company also announced today that Jamie Pierson has resigned as the Chief Financial Officer and from the Board of Directors. Today we have one of the largest, most comprehensive LTL and logistics networks focused on serving North America and the Yellow brand, as the original LTL company, reflects a strong and proud history”, continued Hawkins. name was selected over a decade ago when the strategy of the Company included pursuits outside of North America. “Following an in-depth study, Yellow is the right brand and it’s the right time to modernize our existing holding company brand in conjunction with our enterprise transformation. The Company anticipates its LTL brands Holland, New Penn, Reddaway and YRC Freight, as well as HNRY Logistics will continue operating under their current names. The Company announced that in 2021 the holding company will move forward under the heritage Yellow brand. These funds are dedicated for investment in our fleet”, continued Hawkins. At the beginning of the quarter we secured a commitment with the US Treasury, and in October we received the first $75 million of the $400 million in Tranche B funds. “We ended the quarter with just over $450 million in liquidity with a reaffirmed focus on managing our operations through the changes we’ve seen over the past 6 months, which has put us in a position to invest back into our business as we move forward. Improving tonnage trends late in Q3 has allowed LTL pricing to firm up with less volatility expected moving forward” said Darren Hawkins, Chief Executive Officer. “During the quarter we transitioned to managing our business in a tighter capacity environment and setting the stage for 2021. Net loss for third quarter 2020 was $2.0 million, or $0.04 per share, compared to net loss of $16.0 million, or $0.48 per share, in third quarter 2019. In comparison, operating revenue in the third quarter of 2019 was $1.257 billion and operating income was $23.8 million, which included a $1.0 million net loss on property disposals. Operating revenue was $1.183 billion and operating income was $19.4 million. (NASDAQ: YRCW) reported results for the third quarter ended September 30, 2020. ![]() 02, 2020 (GLOBE NEWSWIRE) - YRC Worldwide Inc. Leadership and Board of Directors Changes Announced Holding Company to Reinvigorate Heritage Yellow B rand
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