YRCW surges on Expectations for Strong Revenue and Earnings Growth in 2011
July 15th, 2011 | by Jaxon Hewlett |YRC Worldwide Inc. (NASDAQ: YRCW) yesterday said that it expects strong revenue and earnings growth in 2011, which would be a boost to the company’s restructuring efforts.
In a SEC filing made by YRC on Thursday, the company said that it expects 2011 revenue to increase 14% to $4.93 billion and adjusted EBITDA to increase from $73.9 million in 2010 to $209.8 million in 2011. However, the company cautioned that the estimates are based on a number of factors which are outside its control.
YRC said in the SEC filing that there can be no assurance that the projected results will be realized or that actual results will not be significantly higher or lower than projected.
The estimates come after earlier this week the company obtained a new $400 million asset-backed loan facility. The new facility will replace the company’s asset-backed securitization facility and boost liquidity.
This week’s developments have boosted YRC shares. So far this week YRC shares gained 11.3%. In today’s trading the stock is up 6.61% to $1.29, with volume up from daily average of 3.78 million to 4.86 million.
Similar Posts:
- Hot Nasdaq Stock; China Automotive Shares soar on Optimistic Earnings Forecast
- Magna International, Inc. – Growth & Income
- Cardinal Health, Inc. – Growth & Income
- VF Corporation – Growth & Income
- International Business Machines Corporation – Growth & Income
Tags: 2011, Earnings Growth, Strong Revenue