Businessman looks on collapse domino effect. Stress resistance business. Financial stability. Recovery business. Evaluation of cash risks. Creating a strategy. Management and planning. Decision making

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 comps remaining up single digits.

“However, revenue per hundredweight (yield) growth, was again better than that of the industry. The metric was up 12% y/y in the fourth quarter, 29% higher on a two-year comp. Other competitors logged a mid- to high-single-digit yield increase in the period.”

(To read the full post, please click here.)

The shares fell 6.2% on Thursday, and then were hammered (-12.6%) in after-hours trade after the results were published; meanwhile one of its LTL rivals, XPO Logistics, which reported mixed figures on Wednesday, was under a huge amount of pressure on the market yesterday, down 14%… according to FW, XPO is “not sacrificing price to buy volume“.

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