LTL stars Yellow & XPO hammered

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”.

FW added:

“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 ...