YRC Worldwide posts another loss, looks at recapitalization
Aug 7 (Reuters) - Trucking company YRC Worldwide Inc said it was looking at recapitalization options, as it reported a larger-than-expected quarterly loss.
YRC Worldwide shares were set to open nearly 16 percent down on the Nasdaq on Wednesday, after the company reported its ninth loss in the past 10 quarters.
The net loss attributable to the company narrowed to $15.1 million, or $1.72 per share, in the second quarter from $22.6 million or $3.21 per share, a year earlier.
However, the loss was far greater than the 64 cents analysts on average had expected, according to Thomson Reuters I/B/E/S.
Chief Financial Officer Jamie Pierson said the company retained Credit Suisse along with the MAEVA Group to explore refinancing and recapitalization options.
YRC Worldwide shares closed at $28.58 on Tuesday.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)