Image source: Getty Images.

What happened 

Shares of trucking company YRC Worldwide Inc. (YELL -4.17%) fell as much as 23.1% in trading today after the company reported third-quarter earnings. At 1:00 p.m. EDT, the stock was still down 21.1% on the day. 

So what

Revenue fell slightly to $1.22 billion and net income dropped from $17.9 million a year ago to $16.2 million, or $0.42 per share. That was well short of the $0.53 in earnings expected by Wall Street, causing the drop in shares today. 

Management said soft industrial demand and lower fuel surcharges affected revenue negatively in the quarter. Most operating metrics like total tonnage per day and revenue per shipment were down slightly as well. 

Now what

A highly competitive trucking business isn't helping YRC Worldwide grow revenue right now, and a slow decline in results will continue unless the economy picks up. The stock looks like a decent value at just over 10 times 2016 earnings estimate, but without a dividend, the low valuation becomes a little less attractive. Given the slump in trucking and the highly competitive environment, this isn't a stock I would jump into today, especially with management failing to return the cash being generated to shareholders.