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Overland Park-based YRC plans rebranding, name change

The Kansas City region’s fifth-largest public company, YRC Worldwide, announced it will soon be changing its name to Yellow. The announcement arrives after an expansion of its board of directors and the resignation of its CFO.

YRC Worldwide Inc. narrowed its losses during the third quarter, announced plans to change its name to Yellow and expanded its board of directors.

The Overland Park, Kan., motor carrier said its Q3 net loss fell 87.5% to $2 million from $16 million in the same period a year earlier. Diluted earnings per share decreased to 4 cents a share from 48 cents. Revenue dipped 5.9% to $1.2 billion from $1.3 billion.

The company is undertaking some corporate restructuring that will consolidate multiple brands’ operating systems into a single platform and upgrade its fleet of aged tractors and trailers.

A $700 million CARES Act federal loan made to YRC in July provides the funding for the initiatives. The CARES Act loan is part of a federal stimulus program to shore up what the government considered essential businesses. YRC provides freight services for the military. The U.S. government gained a 30% stake in the company and broad federal oversight as part of the deal.