Yellow Corporation Provides Quarter-To-Date Operating Data for Third Quarter 2021
September 09 2021 - 4:03PM
Yellow Corporation (NASDAQ: YELL) reported certain operating
metrics for the first two months of third quarter 2021.
For Yellow less-than-truckload, the percent
change 2021 from 2020:
|
Shipments per Workday |
Weight per Shipment |
Tonnage per Workday |
Revenue per Hundredweight(a) |
Revenue per Shipment(a) |
July |
(3.9)% |
(1.9)% |
(5.7)% |
19.4% |
17.1% |
August |
(6.4)% |
(2.2)% |
(8.5)% |
22.5% |
19.9% |
QTD |
(5.2)% |
(2.0)% |
(7.1)% |
20.9% |
18.5% |
|
|
|
|
|
|
(a) Includes fuel surcharge |
“We continue executing our yield strategy to
ensure the optimum level of freight is flowing through the
network,” said Darren Hawkins, Chief Executive Officer. “Our plan
is to grow the business and we are confident that our
transformation to One Yellow positions us for long-term tonnage
growth. Extraordinarily tight LTL capacity with ongoing high demand
matched by limits in the U.S. labor pool reinforces our near- term
strategy of focusing on yield at this point in the freight
transportation cycle.”
Cautionary Note on Forward-Looking
Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act. Forward-looking statements
include those preceded by, followed by or characterized by words
such as “will,” “expect,” “intend,” “anticipate,” “believe,”
“could,” “should,” “may,” “project,” “forecast,” “propose,” “plan,”
“designed,” “estimate,” “enable,” and similar expressions which
speak only as of the date the statement was made. Forward-looking
statements are inherently uncertain, are based upon current
beliefs, assumptions and expectations of Company management and
current market conditions, and are subject to significant business,
economic, competitive, regulatory and other risks, uncertainties
and contingencies, known and unknown, many of which are beyond our
control. Readers are cautioned not to place undue reliance on any
forward-looking statements. Our future financial condition and
results could differ materially from those predicted in such
forward-looking statements because of a number of business,
financial and liquidity, and common stock related factors,
including (without limitation) the risk of labor disruptions or
stoppages, if our relationship with our employees and unions were
to deteriorate; general economic factors, including (without
limitation) impacts of COVID-19 and customer demand in the retail
and manufacturing sectors; the widespread outbreak of an illness or
any other communicable disease, including the effects of pandemics
comparable to COVID-19, or any other public health crisis, as well
as regulatory measures implemented in response to such events;
interruptions to our computer and information technology systems
and sophisticated cyber-attacks; business risks and increasing
costs associated with the transportation industry, including
increasing equipment, operational and technology costs and
disruption from natural disasters, and impediments to our
operations and business resulting from anti-terrorism measures; our
ability to attract and retain qualified drivers and increasing
costs of driver compensation; competition and competitive pressure
on pricing; changes in pension expense and funding obligations,
subject to interest rate volatility; increasing costs relating to
our self-insurance claims expenses; our ability to comply and the
cost of compliance with, or liability resulting from violation of,
federal, state, local and foreign laws and regulations, including
(without limitation) labor laws and laws and regulations regarding
the environment and climate change initiatives; the impact of
claims and litigation expense to which we are or may become
exposed; that we may not realize the expected benefits and costs
savings from our performance and operational improvement
initiatives; a significant privacy breach or IT system disruption;
our dependence on key employees; our ability to finance the
maintenance, acquisition and replacement of revenue equipment and
other necessary capital expenditures; seasonality and the impact of
weather; shortages of fuel and changes in the cost of fuel or the
index upon which we base our fuel surcharge and the effectiveness
of our fuel surcharge program in protecting us against fuel price
volatility; risks of operating in foreign countries; our failure to
comply with the covenants in the documents governing our existing
and future indebtedness; our ability to generate sufficient
liquidity to satisfy our indebtedness and cash interest payment
obligations, lease obligations and pension funding obligations;
fluctuations in the price of our common stock; dilution from future
issuances of our common stock; we are not permitted to pay
dividends on our common stock in the foreseeable future; that we
have the ability to issue preferred stock that may adversely affect
the rights of holders of our common stock; and other risks and
contingencies, including (without limitation) the risk factors that
are included in our reports filed with the SEC, including those
described under “Risk Factors” in our annual report on Form 10-K
and quarterly reports on Form 10-Q.
About Yellow Corporation
Yellow Corporation has one of the largest, most
comprehensive logistics and less-than-truckload (LTL) networks in
North America with local, regional, national, and international
capabilities. Through its teams of experienced service
professionals, Yellow Corporation offers industry-leading expertise
in flexible supply chain solutions, ensuring customers can ship
industrial, commercial, and retail goods with confidence. Yellow
Corporation, headquartered in Overland Park, Kan., is the holding
company for a portfolio of LTL brands including Holland, New Penn,
Reddaway, and YRC Freight, as well as the logistics company HNRY
Logistics.
Please visit our website at www.myyellow.com for
more information.
Investor Contact: |
Tony Carreño913-696-6108investor@myyellow.com |
|
|
Media Contacts: |
Mike Kelley913-696-6121mike.kelley@myyellow.comHeather
Nauertheather.nauert@myyellow.com |
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