A defensive earnings season & the US LTL freight backdrop
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In a story headed “Yellow sees tonnage plummet, books Q4 loss”, FreightWaves (FW) reported that less-than-truckload carrier Yellow “ceded more tonnage” during Q4 22 as part of a “companywide overhaul aimed at streamlining costs and driving yields higher”.
“Yellow’s (NASDAQ: YELL) tonnage fell 25% year over year (y/y) in the quarter, down 35% on a two-year comparison. That far outpaces peers, most of which reported tonnage declines in the mid- to high-single-digit range for the quarter, with two-year ...
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