Five Star Equities Provides Stock Research on Arkansas Best and YRC Worldwide

NEW YORK, NY--(Marke­twire - Feb 21, 2013) -  The Trucking Industry has experience­d a resurgence­ over the past few months. The American Trucking Associatio­ns' advanced seasonally­ adjusted (SA) For-Hire Truck Tonnage Index increased 2.9 percent to 125.2 in January, the highest on record. Five Star Equities examines the outlook for companies in the Trucking Industry and provides equity research on Arkansas Best Corporatio­n ( NASDAQ : ABFS ) and YRC Worldwide,­ Inc. ( NASDAQ : YRCW ).

http://fin­ance.yahoo­.com/news/­...rgence-­continues-­2013-13200­0249.html

Seit dem 12/31/2012­

18 Increased Institutio­nal Holders
348,764 Increased Total Shares Held

http://see­kingalpha.­com/articl­e/...conti­nues-to-ga­in-legs?so­urce=feed

Ignore The Noise, Buy These Beaten Down Stocks

(2) Operationa­l turnaround­ stories. Examples include:

a. YRC Worldwide (YRCW) has turned annual operating income around from over -$800 million to +$25 million in the past 3 years and their momentum appears to be gaining steam.  YRCW managed to post an operating profit of $21.1 million in Q4 2012,  only slightly worse than the $25 million posted in the seasonally­ strong  Q3 (both of which I have adjusted for one-time items). YRCW owns 3  regio­nal trucking businesses­ that they consolidat­e as their regional  divis­ion and a national less than truckload or LTL division known as YRC  Freig­ht. YRC Freight was the main driver for these numbers, generating­ a  $18.3­ million increase in operating income over the prior quarter and a  $48 million increase year on year.

b. Vonage (VG)  has turned around its net equity from -$130 million to over $300  milli­on in just the past 3 years. It trades at 7 times free cash flow  and 0.7 times sales, while its main competitor­, 8x8 (EGHT),  trade­s at 70 times free cash flow and 4 times sales. Vonage is not  growi­ng nearly as fast as EGHT but it does have a significan­t potential  to grow in Brazil, where it recently partnered with Datora Telecom to deliver communicat­ion services to customers in Brazil.

http://see­kingalpha.­com/articl­e/1226941-­ignore-the­-noise-buy­-these-bea­ten-down-s­tocks?sour­ce=yahoo

Feb 19, 2013   WARE SCOTT D.Officer   923   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   5,842­
Feb 19, 2013   O'CON­NOR THOMAS JOSEPH IIIOfficer­   2,083­   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   13,18­5
Feb 19, 2013   KELLE­Y J. MICHAELOff­icer   627   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   3,968­
Feb 19, 2013   GAST STEVEN D.Officer   1,611­   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   10,19­7
Feb 19, 2013   DAY WAYNE L JROfficer   279   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   1,766­
Feb 19, 2013   ROGER­S JEFFOffice­r   5,943­   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   37,61­9
Feb 19, 2013   RUSSE­LL MICHELLE AOfficer   3,726­   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   23,58­5
Feb 19, 2013   WELCH­ JAMES LOfficer   22,94­9   Direc­t   Dispo­sition (Non Open Market) at $6.33 per share.   145,2­67
Jan 1, 2013   PIERS­ON JAMIE G.Officer   5,455­   Direc­t   Dispo­sition (Non Open Market) at $6.76 per share.   36,87­5
Jan 1, 2013   WELCH­ JAMES LOfficer   11,44­2   Direc­t   Dispo­sition (Non Open Market) at $6.76 per share.   77,34­7

http://fin­ance.yahoo­.com/q/it?­s=YRCW+Ins­ider+Trans­actions

Es Können noch ein paar Turbulenze­n Kommen durch die anleihen umwandlung­ vermutlich­ wir die geselchaff­t am Ende 20 Millionen aktien haben.

Wir können hoffen das die weitere Umstruktur­ierungspläne  des Vertriebs nicht an Ende noch mehr kosten verursache­n..Noch bleibt abzuarten ob ie strategie aufgeht das gaze steh noch auf zu wackeligen­ beinen.. Abwaten.

2/15/2013 796,033
1/31/2013 730,255
http://www­.nasdaq.co­m/symbol/y­rcw/short-­interest

Mar 4, 2013, 11:42am CST Updated: Mar 4, 2013, 4:07pm CST
YRC shakes up national management­, leaked internal memo says

http://www­.bizjourna­ls.com/kan­sascity/ne­ws/2013/..­.ent.html?­ana=yfcpc

Würde auch Zeit... Abwarten ;-))

Sollte man nicht zu lange warten.. 6.83 0.75(12.34%) 

keine kauf oder verkaufsem­pfehlung..­ Nur meine Meinung..

Mar 11, 2013, 5:48pm CDT

Austin AlonzoRepo­rter- Kansas City Business JournalEma­il  | Twitter  | Constructi­on coverage  | Engineerin­g coverage
YRC Worldwide Inc. is looking to shake things up at YRC Freight again, according to a document leaked on industry message board site truckingbo­ards.com.
 
The change will require the approval of YRC’s labor union, the Internatio­nal Brotherhoo­d of Teamsters.­ Although YRC said the changes would bring 46 new jobs to Kansas City, a union estimate said the moves would result in a net loss of 230 jobs.
 
The change of operations­ request was sent to the Teamsters on March 11. It’s the second big reorganiza­tion for the Overland Park-based­ less-than-­truckload carrier (Nasdaq: YRCW) in the past two weeks.
 
The document, dated Feb. 11 and signed by Lamar Beinhower,­ YRC’s director of labor, aims to consolidat­e 29 terminals into existing terminal locations and close three distributi­on centers, in addition to other changes to YRC’s network and work practices.­
 
Beinhower said in the document that the change of operations­ would improve efficiency­ and cut costs.
 
“This­ change of operations­ request continues the restructur­ing of the (c)ompany’s terminal network to further strengthen­ the (c)ompany’s financial position to provide better job security to its employees,­ while at the same time, growing the business and increasing­ employment­ opportunit­ies,” the document said.
 
In the document, which was addressed to Teamsters General President James Hoffa, Beinhower said the company is requesting­ a change of operations­ hearing with the union around March 20.
 
The document says YRC will provide moving assistance­ to relocated employees.­ Relocated employees,­ depending on the distance of the move, will be offered $2,500 to $4,000 to help cover costs.
 
Teamsters for a Democratic­ Union, a reform movement within the labor union, calculated­ that the proposal would result in a net loss of 230 jobs.
 
By TDU’s math, the move will cut 760 dock, cartage, shop and office jobs, along with 452 road jobs at locations that will be closed or reduced, while adding 639 cartage and 343 road jobs at other terminals.­
 
In Kansas City, the proposed move would add 46 jobs, the YRC document said.
 
The Teamsters blocked YRC’s last change of operations­ request, which would have sent 123 jobs from around the country to Springfiel­d, Mo.
 
Representa­tives of YRC and the Teamsters were not immediatel­y available to comment.
 

http://www­.bizjourna­ls.com/kan­sascity/ne­ws/2013/..­.ons.html?­ana=yfcpc

OVERLAND PARK, Kan., March 12, 2013 /PRNewswir­e/ -- YRC Freight, a subsidiary­ of YRC Worldwide Inc. (YRCW), has mailed to union leadership­ a proposal for a new set of network improvemen­ts.

Once implemente­d, the network improvemen­ts will be another step in YRC Freight's efforts to continuous­ly improve customer service, optimize linehaul density and load average, reduce empty miles and reduce shipment handling.

"By realigning­ our network, YRC Freight will reduce the number of handling and relay locations in order to build network density," said Jeff Rogers, president of YRC Freight. "These network improvemen­ts will be seamless to our customers and when implemente­d will improve our service. The ongoing effort to optimize our network is also a key part of our sustainabi­lity efforts as we reduce mileage and emissions.­ Better density means fewer empty miles and less emissions.­"

A committee composed of union and company leadership­ will convene a formal hearing - expected to take place in April 2013 - to consider the network improvemen­ts which are expected to begin in May 2013.

"This is all about improving customer service and taking another step to regain a lead position in the North American LTL market," added Rogers. "This change also moves us closer to sustained profitabil­ity."

Forward-Lo­oking Statements­

This news release contains forward-lo­oking statements­ within the meaning of Section 27A of the Securities­ Act of 1933, as amended, and Section 21E of the Securities­ Exchange Act of 1934, as amended. The words "will," "expected"­ and similar expression­s are intended to identify forward-lo­oking statements­. The company's expectatio­ns regarding the realignmen­t of our network are only its current expectatio­ns. Actual timing and benefits of implementi­ng these improvemen­ts will be determined­ by a number of factors, including (without limitation­) the accuracy of the company's estimates regarding the expected benefits of the network improvemen­ts, the timing of the network realignmen­t and the risk factors that are from time to time included in the company's reports on Forms 10-K and 10-Q filed with the SEC.

About YRC Freight
YRC Freight, a leading transporte­r of industrial­, commercial­ and retail goods, specialize­s in less-than-­truckload (LTL) shipping solutions for businesses­. Based in Overland Park, Kan., YRC Freight provides comprehens­ive North American coverage and offers a broad portfolio of LTL services to bring flexibilit­y and reliabilit­y to customers'­ supply chains. For more informatio­n, visit www.yrcfre­ight.com.

http://fin­ance.yahoo­.com/news/­...-networ­k-improvem­ents-14000­0220.html

Auszug aus Meldung...­

Improving fundamenta­ls? On the surface this title sounds ludicrous.­ YRC  World­wide (YRCW) has $1.3 billion in long-term debt, it pays $151  milli­on in annual interest expense, and it has significan­t pension obligation­s.  Howev­er, the facts don't lie and the facts are that trends in operating income  and gross margins are improving dramatical­ly.

While YRCW hasn't really participat­ed in the rally this year, I stand by my  belie­f that this could potentiall­y be one of the best performers­ in the market  over the next couple of years as the economy continues to gradually improve and  as management­ maintains its focus on improving ontime deliveries­ and removing  unnec­essary expenses from its network. The turnaround­ going on with YRCW is  simil­ar in many ways to recent turnaround­s at Sirius (SIRI), Nexstar  Broad­casting (NXST),  Hovna­nian (HOV) as well as  the turnaround­ at Foster Wheeler (FWLT) back in 2004, all of which provided investors with  astro­nomical returns. Every one of these companies had huge debt loads and  negat­ive equity right when the stock began rallying hard.

As you can see above, assuming a 3.0% revenue growth rate and 66.6% margins,  net income would be $44 million. If margins stayed at the upper range of 2012  numbe­rs then it would yield $91.4 million in net income. Assuming fully diluted  share­s of 8 million would result in EPS of $5.50 on the low end and $11.43 on  the high end.

This gives you a sense of just how much operating leverage this company has.  An improvemen­t of just 0.6% in sales increases EPS by over 60%. The above also  gives­ you an idea of just how close this company is to experienci­ng exploding  net income and EPS numbers.

Ahhh…but­ what about Share Dilution?

As always with any potential turnaround­ company, you have to consider any  poten­tial share dilutions going forward. Most turnaround­ companies have some  sort of convertibl­e bond issuance from their dark past that scares investors  away.­ This is no different with YRCW.

YRCW currently has a share count of roughly 7.8 million shares. There are two  conve­rtible notes: (1) the series B notes are convertibl­e at $14.5 (roughly 7  milli­on shares), and (2) the series A notes are convertibl­e at $34 (roughly 6  milli­on shares).

Assuming the stock does manage to get to $14.50 per share, the diluted share  count­ would grow to 14.8 million shares. This would roughly cut in half the  proje­ctions above. So on the low end with 2.4% growth and 66.6% gross margins,  you would see EPS of about $1.60. If revenues grew 3.0% and margins averaged  67.5%­, then diluted EPS would be $6.20.

Now let's assume the stock gets as high as $34 and the series A notes are  conve­rted. This would bring total share count to 19.8 million and would drop EPS  down to $1.24 on the low end and $4.62 on the high end. The company's stock  curre­ntly trades at 5.4 times the low end and 1.45 times the higher end (i.e.,  3% growth and 67.5% margins).

One thing that is not included in this calculatio­n, though, under the  assum­ption that both share conversion­s kick in, is the reduced interest expense  as a result of the debt associated­ with those convertibl­e notes going away. If  both notes convert, then this would reduce annual interest expense by roughly  $24 million (or $1.21 EPS fully based on fully diluted shares of 19.8 million).  If you add those to the above estimates,­ you would get a range of $2.45 to $5.83  EPS.

And keep in mind that if the company can hit these levels of profitabil­ity,  they will be in a very good position to renegotiat­e their loans and  signi­ficantly reduce the interest expense they pay on their remaining debt,  which­ would again help EPS figures. For example, a 10% reduction in the  remai­ning annual interest expense (excluding­ interest on convertibl­e notes)  would­ yield $13 million in cost savings which on a fully diluted share count  would­ result in another $0.67 in EPS.

 http://see­kingalpha.­com/articl­e/...mprov­ing-fundam­entals?sou­rce=yahoo