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) has announced the opening of its 21st Driving Academy in Detroit, Michigan, aimed at addressing the nationwide shortage of truck drivers. This tuition-free program offers comprehensive training, preparing students for their commercial driver’s license (CDL) while providing a competitive hourly wage. The company aims to train 1,000 new drivers this year, expanding access to diverse candidates. Yellow's academies are certified as Department of Labor apprenticeship programs, reinforcing its commitment to workforce development in the trucking industry.
Yellow Corporation (NASDAQ: YELL) will hold a conference call on August 3, 2022, at 5:00 p.m. ET to discuss its second quarter 2022 results, with financial results released the same day post-market. The call will be available via webcast on the company's website, www.myyellow.com. Yellow operates a significant logistics and less-than-truckload (LTL) network in North America, supported by over 30,000 transportation professionals, ensuring timely delivery of goods for a diverse client base.
Yellow Corporation (NASDAQ: YELL) has expanded its commitment to address the truck driver shortage by operating 20 tuition-free CDL Driving Academies across the U.S. Recently, three new locations opened in Columbus, OH, Tracy, CA, and Maybrook, NY. The academies aim to train 1,000 new drivers this year, focusing on diverse recruitment and providing thorough training, including 160 hours of education and hands-on experience. These initiatives are part of Yellow's broader strategy to enhance the workforce in the trucking industry.
Yellow Corporation (NASDAQ: YELL) reported mixed operating metrics for April and May 2022, showing declines in key performance indicators compared to 2021. Shipments per workday fell by 14.3% in April and 16.2% in May, while tonnage per workday decreased by 17.0% and 17.2%, respectively. Revenue per hundredweight improved, with April at 30.0% and May at 28.8%. CEO Darren Hawkins expressed confidence in the company's strategic transformation, aiming for enhanced customer service and operational efficiency through the 'One Yellow' initiative, scheduled for completion by year-end.
Yellow Corporation (NASDAQ: YELL) announced that President Darrel Harris and CFO Dan Olivier will partake in a fireside chat at Bank of America's 29th Annual Transportation, Airlines and Industrials Conference on May 17, 2022, at 4:00 p.m. ET in Boston, Massachusetts.
The event will be available for live streaming and replays on Yellow's website for 30 days. Yellow Corporation operates a leading logistics and less-than-truckload (LTL) network in North America, offering comprehensive shipping services backed by over 30,000 transportation professionals.
Yellow Corporation (NASDAQ: YELL) reported a first-quarter operating revenue of $1.260 billion, marking a 5.2% increase from $1.198 billion in 2021. Operating income rose to $9.2 million from a loss of $27.6 million, aided by a $5.5 million net gain from property disposals. The net loss was $27.5 million ($0.54 per share), an improvement from a loss of $63.3 million ($1.26 per share) last year. Adjusted EBITDA showed a significant increase, reaching $52 million, up $38.8 million year-over-year.
Yellow Corporation (NASDAQ: YELL) will host a conference call on May 10, 2022, at 5:00 p.m. ET to discuss its first quarter 2022 financial results. The results will be released the same day after market close. Investors can access the call live or as a replay on Yellow Corporation's website. The company is recognized for its extensive logistics and less-than-truckload (LTL) network across North America, providing flexible supply chain solutions.
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