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) reported a strong performance for Q3 2021 with operating revenue reaching $1.301 billion, up 10% from the previous year. Operating income surged to $48.4 million, compared to $19.4 million in Q3 2020. The company achieved a net income of $8.3 million, reversing a net loss from the prior year. Adjusted EBITDA rose to $94.4 million, marking an increase of $32.4 million. The operating ratio improved to 96.3%—the best since Q4 2018—despite challenges like a tight labor market. Liquidity stood at $409.2 million.
Yellow Corporation (NASDAQ: YELL) will host a conference call on November 3, 2021, at 5:00 p.m. ET to discuss its third quarter 2021 financial results, which will be released the same day after market close. The call will be accessible via webcast through the company's website. Yellow Corporation boasts one of North America's largest logistics and less-than-truckload networks, offering comprehensive supply chain solutions to various sectors.
Yellow Corporation (NASDAQ: YELL) reported its operating metrics for July and August 2021, highlighting a decline in several key performance indicators compared to 2020. Shipments per workday dropped by 3.9% in July and 6.4% in August, while tonnage per workday saw a decline of 5.7% and 8.5%, respectively. Despite these decreases, revenue per hundredweight increased, showing a 19.4% rise in July and 22.5% in August. CEO Darren Hawkins emphasized a focus on yield amid high demand and labor constraints in the freight transportation sector, aiming for long-term growth.
Yellow Corporation (NASDAQ: YELL) will participate in a fireside chat on September 10, 2021, at 2:30 p.m. ET during the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference. Executives Darren Hawkins, Dan Olivier, and Darrel Harris will represent the company. The event can be accessed via a live audio webcast on the company’s website, with a replay available for 30 days. Yellow Corporation boasts a comprehensive logistics network in North America, offering flexible supply chain solutions across various sectors.
Yellow Corporation announced that its operating companies, Holland and New Penn, won the 38th Annual Quest for Quality Awards from Logistics Management, a recognition of customer satisfaction and service excellence in transportation. New Penn excelled in both the Truckload and LTL categories for the Northeast/Mid-Atlantic Region, while Holland was recognized in the LTL category for the Midwest/North Central Region. This achievement highlights Yellow's commitment to providing quality service amid challenging conditions.
Yellow Corporation has appointed Dan Olivier as the new Chief Financial Officer effective August 23, 2021. Olivier, who has served as Interim CFO since October 2020, brings over 25 years of experience with the company, including significant roles in financial planning and analysis. CEO Darren Hawkins emphasized the importance of Olivier’s leadership for a seamless transition as the company pursues its One Yellow initiative. Olivier aims to leverage his operational finance background to guide the company through this transformation.
Yellow Corporation (NASDAQ: YELL) has announced that CEO Darren Hawkins and Interim CFO Dan Olivier will participate in a fireside chat on August 25, 2021, at 3:20 p.m. ET during the Raymond James 2021 Diversified Industrials Conference. The event will be available as a live audio webcast on the Yellow Corporation website, with a playback option for 30 days. Yellow Corporation is a leading logistics and less-than-truckload (LTL) service provider in North America, offering flexible supply chain solutions through a comprehensive network.
Ecobat has appointed Jamie Pierson as its new chief financial officer. Pierson previously served as CFO for YRC Worldwide (NASDAQ: YELL), overseeing financial strategies and relationships with key stakeholders. He brings over 10 years of experience in investment banking and financial restructuring. This leadership change is part of a broader executive team overhaul, with five recent appointments. President Jimmy Herring emphasizes that Pierson's expertise will aid in navigating Ecobat's growth and innovation initiatives, especially following the acquisition of lithium-ion recycler Promesa.
Yellow Corporation reported solid second-quarter results for 2021, with operating revenue reaching $1.313 billion, up 29.3% from $1.015 billion in Q2 2020. Operating income stood at $27 million, compared to a loss of $4.6 million last year. The net loss narrowed to $9.4 million or $0.18 per share, improving from a loss of $37.1 million. The company achieved an Adjusted EBITDA of $82.9 million, a significant increase year-over-year. Yellow plans continued investments in growth, maintaining liquidity of $423.2 million as of June 30, 2021.
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