Welcome to our dedicated page for Yellow Corporation news (Ticker: YELL), a resource for investors and traders seeking the latest updates and insights on Yellow Corporation stock.
Yellow Corporation (YELL) is a Fortune 500 company headquartered in Nashville, TN, and stands as one of the largest super-regional less-than-truckload (LTL) companies in North America. Nearly 100 years ago, Yellow pioneered the LTL industry, and today it encompasses four successful regional LTL companies and an in-house logistics brokerage, Yellow Logistics. Through a team of dedicated professionals, Yellow offers industry-leading shipping and supply chain solutions, providing customers with reliable and timely deliveries.
Yellow Logistics, a coast-to-coast third-party logistics (3PL) brokerage, integrates trucks, technology, and talented professionals to deliver customized shipping solutions. Known for its strategic and reliable partnerships, Yellow Logistics enhances supply chains by moving freight efficiently in multiple modes, meeting customer budget requirements, and accelerating growth portfolios.
Recent Achievements and Projects:
- Yellow is undergoing modernization efforts known as One Yellow, aimed at securing its position in the competitive LTL market. This restructuring plan is essential for the company's survival, enabling it to compete against non-union carriers.
- The company is currently facing significant challenges due to a dispute with the International Brotherhood of Teamsters (IBT). This conflict has led to a lawsuit filed by Yellow, seeking compensation for damages caused by the union's alleged breach of contract.
- Yellow's modernization efforts are crucial, with the company needing to refinance $1.3 billion in debt by 2024 to remain operational.
Financial Condition: Yellow has faced financial hurdles but remains a critical part of the domestic supply chain, serving hundreds of thousands of customers. The company's management is committed to saving 30,000 jobs and protecting shareholder interests, including significant federal government ownership.
Partnerships and Products: Yellow operates a comprehensive logistics and LTL network in North America, offering regional, national, and international shipping services. The company manages a portfolio of brands, including Holland, New Penn, Reddaway, and YRC Freight.
For more details on Yellow's services and latest updates, visit myyellow.com.
Yellow Corporation (NASDAQ: YELL) announced a fireside chat with CEO Darren Hawkins and CFO Dan Olivier on November 16, 2022, at 9:00 a.m. ET during the Stephens Annual Investment Conference in Nashville. This event will be available as a live audio webcast and can be replayed for 30 days on their website, www.myyellow.com.
Yellow Corporation operates one of the largest logistics networks in North America, providing comprehensive shipping services with over 30,000 professionals ensuring timely delivery of various goods.
Yellow Corporation (NASDAQ: YELL) announced its Q3 2022 results, revealing operating revenue of $1.360 billion and operating income of $49.1 million. This marks a revenue increase of 4.5% year-over-year. However, net income decreased to $4.8 million or $0.09 per share, down from $8.3 million the previous year. Adjusted EBITDA fell to $90.6 million from $94.4 million. Key developments include a successful phase one of network optimization, an increase in liquidity through extending the ABL facility, and a strategic focus on improving operational efficiencies.
Yellow Corporation (NASDAQ: YELL) is set to announce its third quarter 2022 financial results on Nov. 2, 2022, at 4:30 p.m. ET. The results will be released after market close on the same day. Company executives will engage in a conference call with investors to discuss the outcomes. Investors can access the call via the Yellow Corporation website. Yellow operates one of the largest logistics and less-than-truckload (LTL) networks in North America, providing diverse shipping services backed by over 30,000 professionals.
Yellow Corporation (NASDAQ: YELL) reported its operating metrics for the first two months of Q3 2022, showing a decline in shipments and tonnage. Shipments per workday dropped by 16.9% in July and 14.2% in August, with a QTD decline of 15.6%. Tonnage also followed suit, with decreases of 17.2% and 15.7% respectively. Despite these declines, revenue per hundredweight improved, reaching 21.8% QTD increase. CEO Darren Hawkins announced the upcoming integration of 89 terminals on Sept. 18, expected to enhance customer service and operational efficiencies.
Yellow Corporation has announced an expansion of its Registered Apprenticeship program in partnership with the U.S. Departments of Labor and Commerce. The initiative focuses on training dockworkers and diesel mechanics to meet the growing demand for skilled labor in freight delivery. Yellow, recognized as a DOL Apprenticeship Ambassador, operates 22 Driving Academies nationwide and aims to train 1,000 new truck drivers in 2022. The apprenticeship programs are tuition-free, providing paid work and mentorship for participants, enhancing career opportunities in essential industries.
Yellow Corporation (NASDAQ: YELL) announced that CEO Darren Hawkins and CFO Dan Olivier will participate in a fireside chat on September 8, 2022, at 1:00 p.m. ET, during the Cowen 15th Annual Global Transportation & Sustainable Mobility Conference. The event will be accessible via live audio webcast on Yellow's website, with a replay available for 30 days. Yellow provides a comprehensive logistics and less-than-truckload (LTL) network across North America, supported by over 30,000 professionals, ensuring timely delivery of goods for various customers.
Yellow Corporation (NASDAQ: YELL) announced that Alphonso Lewis achieved a top 5 finish at the 2022 National Truck Driving Championships (NTDC) in Indianapolis, securing third place in the 5-axle class. Lewis, a seasoned competitor and former Grand Champion of NTDC, represented Yellow among 400 state champions. The NTDC, known as the "Super Bowl of Safety," marked its return after a two-year hiatus due to COVID-19. Yellow’s CEO, Darren Hawkins, expressed pride in all 18 drivers who participated, highlighting their commitment to safety and professionalism.
Yellow Corporation (NASDAQ: YELL) reported strong second-quarter results for 2022, with operating revenue hitting $1.424 billion and net income of $60 million, translating to earnings per share of $1.17. This performance marks a significant improvement from a net loss of $9.4 million in 2021. Operating ratio improved to 93.0, and adjusted EBITDA rose to $145.9 million, a $63 million increase year-over-year. However, LTL tonnage per workday decreased by 16.4%. The company has lowered its capital expenditure guidance for 2022 to $250-$300 million due to production limitations.
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