UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On March 9, 2023, Yellow Corporation issued a press release providing an update on certain operating metrics for the first quarter of 2023. A copy of the press release is furnished as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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YELLOW CORPORATION |
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Date: |
March 9, 2023 |
By: |
/s/ Daniel L. Olivier |
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Daniel L. Olivier |
Exhibit 99.1
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News Release |
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Yellow Corporation Provides Quarter-To-Date Operating Data for First Quarter 2023
NASHVILLE, Tenn., March 9, 2023 — 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:
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Shipments per Workday |
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Weight per Shipment |
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Tonnage per Workday |
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Revenue per Hundredweight (a) |
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Revenue per Shipment (a) |
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January |
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(18.1)% |
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1.1% |
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(17.2)% |
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12.9% |
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14.2% |
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February |
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(2.5)% |
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3.9% |
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1.3% |
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1.4% |
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5.4% |
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QTD |
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(11.0)% |
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2.3% |
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(9.0)% |
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7.5% |
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10.0% |
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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.
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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