SOURCE: The Bedford Report

The Bedford Report

October 08, 2010 08:46 ET

Trucking Industry Coping With Erratic Recovery From Downturn

The Bedford Report Releases Analyst Research on YRC Worldwide & Werner Enterprises

NEW YORK, NY--(Marketwire - October 8, 2010) -  The trucking industry represents a very important component of the US economy. According to the US Bureau of Economic Analysis, the trucking industry accounts for about 5% of the Gross Domestic Product each year. The trucking industry was hit exceptionally hard during the economic crisis with nearly 2000 companies going out of business and others reducing the size of their fleets. Only in 2010 has demand volume begun to rise, giving truckers improving fundamentals. The Bedford Report examines the outlook for companies in the Trucking Industry and provides research reports on YRC Worldwide, Inc. (NASDAQ: YRCW) (NASDAQ: YRCWD) and Werner Enterprises, Inc. (NASDAQ: WERN). Access to the full company reports can be found at:\

In recent quarters, remarks from major trucking companies suggest that shipment weights and load count are both increasing as various markets recover. Trucking industry heavyweights such as YRC have made sure to note that steadily falling fuel costs have assisted earnings. Truck freight volume, however, remains quite erratic. The American Trucking Association's adjusted For-Hire Truck Tonnage Index fell 2.7 percent in August -- the biggest monthly drop in over one and a half years.

Werner Enterprises has a different theory regarding the improved freight market. Management believes the improving freight market has as much to do with the failure of other trucking companies as it does with rising demand.

The Bedford Report releases regular market updates on the trucking industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at and get exclusive access to our numerous analyst reports and industry newsletters.

During the economic downturn, industry heavyweight YRC Worldwide lost more than $2.2 billion, and annual revenues fell by nearly one-half in 2009 compared with 2006. As reported by Reuters, YRC averted bankruptcy in December by swapping $470 million in debt for equity. The company's recapitalization efforts caused the number of shares outstanding to skyrocket from less than 60 million to nearly 1.2 billion. With such a large number of diluted shares outstanding, YRC's stock slipped below the dollar mark for multiple months, fuelling concerns about NASDAQ delisting. YRC Worldwide finally squashed delisting rumours when the company's board approved a 1:25 reverse stock split which became effective October 1st. The company is temporarily trading under the NASDAQ symbol YRCWD, until the listing reverts to YRCW on October 28th.

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