Yellow Corporation Provides Quarter-To-Date Operating Data for First Quarter 2023

Rhea-AI Summary

Yellow Corporation (NASDAQ: YELL) released its operating metrics for the first two months of Q1 2023. Notable changes included a significant decline in shipments per workday, which dropped by 18.1% in January and 2.5% in February, resulting in a quarter-to-date (QTD) decrease of 11.0%. However, revenue per hundredweight increased by 12.9% in January and 1.4% in February, leading to a QTD increase of 7.5%. Overall, tonnage per workday saw a decrease of 17.2% in January and 9.0% QTD, highlighting a challenging start to the year for the company.

Positive

• Revenue per hundredweight increased by 12.9% in January 2023.
• Revenue per hundredweight increased by 1.4% in February 2023.
• Revenue per shipment rose by 14.2% in January 2023.
• Revenue per shipment increased by 5.4% in February 2023.

Negative

• Shipments per workday fell by 18.1% in January 2023.
• Shipments per workday decreased by 2.5% in February 2023.
• Tonnage per workday dropped by 17.2% in January 2023.
• Tonnage per workday decreased by 9.0% QTD.

NASHVILLE, Tenn., March 09, 2023 (GLOBE NEWSWIRE) -- Yellow Corporation (NASDAQ: YELL) reported certain operating metrics for the first two months of first quarter 2023.

For Yellow less-than-truckload (LTL), the percent changes 2023 from 2022 were:

	Shipments per Workday	Weight per Shipment	Tonnage per Workday	Revenue per Hundredweight(a)	Revenue per Shipment(a)
January	(18.1)%	1.1%	(17.2)%	12.9%	14.2%
February	(2.5)%	3.9%	1.3%	1.4%	5.4%
QTD	(11.0)%	2.3%	(9.0)%	7.5%	10.0%

(a)   Includes fuel surcharge

The year-over-year tonnage per workday result in February followed a 27.4% decrease in February 2022 versus February 2021. On a sequential basis from January 2023 to February 2023, tonnage per workday increased 0.5%. The year-over-year revenue per hundredweight, including fuel, result in February followed a 33.8% increase in February 2022 versus February 2021. On a sequential basis from January 2023 to February 2023, revenue per hundredweight, including fuel, was essentially flat.

About Yellow Corporation

Yellow operates one of the largest, most comprehensive logistics and less-than-truckload (LTL) networks in North America, providing customers with regional, national, and international shipping services throughout. Backed by a team of nearly 30,000 transportation professionals, Yellow’s flexible supply chain solutions and best-in-class expertise ensure the safe, timely delivery of industrial, commercial, and retail goods for customers of all sizes. Yellow’s principal office is in Nashville, Tenn., and is the holding company for a portfolio of LTL brands including Holland, New Penn, Reddaway, and YRC Freight, as well as the logistics company Yellow Logistics.

Please visit our website at www.myyellow.com for more information.

Investor Contact:	Tony Carreño
	913-696-6108
	investor@myyellow.com
Media Contacts:	Mike Kelley
	913-696-6121
	mike.kelley@myyellow.com
	Heather Nauert
	heather.nauert@myyellow.com

FAQ

What was the revenue per hundredweight for Yellow Corporation in January and February 2023?

The revenue per hundredweight increased by 12.9% in January 2023 and by 1.4% in February 2023.

How much did shipments decline for Yellow Corporation in the first two months of 2023?

Shipments per workday fell by 18.1% in January and 2.5% in February 2023.

What are the tonnage changes for Yellow Corporation in early 2023?

Tonnage per workday decreased by 17.2% in January and by 9.0% QTD in early 2023.

What is the stock symbol for Yellow Corporation?

The stock symbol for Yellow Corporation is YELL.