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 has been awarded Norfolk Southern’s Thoroughbred Chemical Safety Award for 2020, marking it as the first less-than-truckload (LTL) company to achieve this honor. The award acknowledges Yellow's commitment to safety, particularly in transporting hazardous materials, amidst challenging supply chain conditions during the pandemic. This partnership with Norfolk Southern supports emissions reduction initiatives, with Yellow being a 17-year partner in the EPA’s SmartWay program, which focuses on sustainability in freight transportation.
Yellow Corporation (NASDAQ: YELL) has received approval from the U.S. Environmental Protection Agency (EPA) for its annual emissions report through the SmartWay voluntary emissions reduction program. This program aims to enhance sustainability in freight transportation. Yellow, a Charter Partner, is undertaking a significant fleet refresh, acquiring over 2,200 tractors and 2,500 trailers in 2021. The company was recognized as a 'High Performer' by the EPA for its freight efficiencies.
Yellow Corporation (NASDAQ: YELL) will host a conference call on August 4, 2021, at 5:00 p.m. ET to discuss second quarter 2021 results. The results will be released later that day after market close. Investors can access the call live or via replay on the company's website. Yellow Corporation operates one of the largest logistics and less-than-truckload (LTL) networks in North America, offering comprehensive services through its portfolio of LTL brands.
Herschel Evans, a driver at Yellow Corporation (NASDAQ: YELL), has been honored as 2021 Coach of the Year by Lytx for his exemplary safety record and community contributions. Evans, a Million Miler with over three million accident-free miles, has received multiple accolades including the 2021 CEO’s Award. His achievements highlight Yellow's commitment to safety, with the company employing the Lytx Driver Safety Program to enhance driver performance and risk management. This recognition emphasizes the importance of safety and community service in the trucking industry.
Yellow Corporation (NASDAQ: YELL) released its operating metrics for April and May 2021, showing positive trends year-over-year. Key highlights include a 21.4% increase in shipments per workday in April and an 8.3% increase in May, contributing to a 14.7%% increase for the quarter-to-date (QTD). The company also reported an 11.8% increase in revenue per hundredweight for April and 18.4%% for May. Overall, Yellow’s performance highlights a solid recovery as it adapts to market demands.
Yellow Corporation is expanding its sales reach by launching a new Oil, Gas and Energy vertical and appointing Melissa Pfitzer as Vice President – Strategic Accounts. This initiative aims to enhance customer responsiveness and align sales strategies across key sectors, including Aerospace and Healthcare. The company emphasizes its real-time tracking services and expedited shipping capabilities, particularly supporting industry-specific needs. Yellow has demonstrated growth since implementing verticals in February 2020, underscoring its commitment to evolving its supply chain solutions.
Yellow Corporation (NASDAQ: YELL) announced that CEO Darren Hawkins and Interim CFO Dan Olivier will participate in a fireside chat on May 19, 2021, at 4:40 p.m. ET during the Bank of America 2021 Transportation, Airlines and Industrials Conference. The event will be accessible via live audio webcast on Yellow's website, with a replay available for 30 days. Yellow Corporation operates one of North America's largest logistics and less-than-truckload networks, providing flexible supply chain solutions.
Yellow Corporation (NASDAQ: YELL) has been awarded the 2020 Carrier of the Year award by Walmart Transportation for the third consecutive year. This accolade recognizes Yellow's significant contributions to Walmart's supply chain amidst 2020's challenges, particularly during the COVID-19 pandemic. Walmart highlighted Yellow's transparent communication and ability to adapt during peak seasons. Yellow CEO Darren Hawkins expressed pride in the team's efforts, attributing the achievement to the dedication of over 30,000 employees across North America.
Yellow Corporation (YELL) reported a first-quarter 2021 operating revenue of $1.198 billion but faced an operating loss of $27.6 million, largely due to severe winter weather impacts. Net loss for the quarter was $63.3 million, or $1.26 per share, contrasting with a net income of $4.3 million in Q1 2020. The firm also confirmed its 2021 capital expenditure plan of $450-$550 million, with $202.4 million spent in Q1. Despite challenges, the company sees tightening LTL capacity and improving economic conditions. Liquidity improved with available cash reaching $423 million.
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