UPDATE 2-YRC considering refinancing for second time in two years
* Second-quarter loss/share $1.72 vs est $0.57
* Revenue $1.24 bln vs est $1.26 bln
* YRC Freight reports operating loss due to cost-cutting delays
* Shares fall as much as 21 percent
(Adds background; updates share move)
Aug 7 (Reuters) - Trucking company YRC Worldwide Inc is considering refinancing its debt for the second time in two years after reporting a far larger-than-expected quarterly loss.
Shares of YRC Worldwide, which was on the brink of bankruptcy two years ago, fell as much as 21 percent.
The company posted its ninth loss in 10 quarters on Wednesday and said it had retained Credit Suisse along with the Maeva Group to explore refinancing and recapitalization options.
YRC Worldwide had $1.29 billion in long-term debt compared with $218.7 million in cash, cash equivalents and an asset-based loan facility, as of June 30.
Since YRC Worldwide's restructuring in 2011, the trucking industry has faced challenges ranging from shortage of experienced drivers to new regulations that require truckers to work shorter hours.
Volumes are picking up but YRC Worldwide has failed to benefit because of its focus on less-than-truckload cargos, which require more handling.
Less-than-truckload shippers pick up loads, sort them and make deliveries. This differs from truckload shipping, in which one driver picks up a load and stays with it through to its final destination.
YRC Worldwide said its cost-cutting program, aimed at reducing handling of shipments and transit time, ran into delays in the second quarter because of high shipment volumes.
The company has since completed the program and expects to save $25 million-$30 million annually.
YRC Freight reported an operating loss of $8.5 million for the quarter ended June. It recorded a one-time charge of $6.3 million related to delays in implementing the cost-cutting plan.
Average daily shipments in the business fell 5 percent.
The net loss attributable to YRC Worldwide 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 57 cents per share that analysts on average had expected, according to Thomson Reuters I/B/E/S.
Revenue slipped 0.8 percent to $1.24 billion, slightly below the $1.26 billion analysts were looking for.
YRC Worldwide shares were down nearly 16 percent at $24.05 on the Nasdaq at 1307 ET after touching a low of $22. More than 2.7 million shares had changed hands, nearly five times the stock's 10-day moving average.
(Additional reporting by Nivedita Bhattacharjee in Chicago; Editing by Joyjeet Das)