Announcement • Jun 20
Motion for Asset Sale Approved for Yellow Corporation The US Bankruptcy Court gave an order approving the sale of certain assets of Yellow Corporation on June 18, 2025. The debtor has been authorized to sell its certain assets to GardenWell Incorporated for $2.6 million, 170 Canal Street, LLC for $2.8 million, S&S Properties of Tupelo, LLC for $0.3 million and 956 Highway 190 W, LLC for $1.2 million. The debtors’ assets include 1212 Hilton Rd., Knoxville, TN, 130 Canal Street, Southington, CT, 2226 McCullough Blvd., Tupelo, MS and 956 Hwy 190 West, Port Allen, LA. Announcement • Mar 12
Motion for Asset Sale Approved for Yellow Corporation The US Bankruptcy Court gave an order approving the sale of the certain assets of Yellow Corporation on march 11, 2025. The debtor has been authorized to sell its certain assets to ABF Freight System, Inc. for a purchase price of $4.5 million. The debtor’s assets include One Leased Property 19604 84th Avenue South, Kent, WA 98032, and 14700 Smith Road, Aurora, CO 80011. The buyer is represented by Michael Gibson, Steven Abramowitz, Steven Zundell of Vinson & Elkins L.L.P. as their legal counsel and debtor is represented by Allyson Smith, Steve Toth, John Caruso, Aaron Metviner, Dan Daines of Kirkland & Ellis LLP as its legal counsel. Announcement • Feb 21
Motion for Asset Sale Filed by Yellow Corporation yellow Corporation filed a motion in the US Bankruptcy Court for the sale of certain assets on February 19, 2025. The debtor seeks the Court’s approval for the sale of certain assets to ABF Freight System, Inc. for a purchase price of $11.5 million in cash pursuant to the asset purchase agreement, dated February 18, 2025. The debtor’s assets include One Leased Property 19604 84th Avenue South, Kent, WA 98032, and 14700 Smith Road, Aurora, CO 80011. good-faith deposit in the amount of 5% of the bid price. Announcement • Sep 13
Fourth Motion for Exclusivity Period Extension Approved For Yellow Corporation The US Bankruptcy Court granted an order for the extension of the exclusivity period for Yellow Corporation on September 11, 2024. As per the order, the debtor’s exclusivity period to solicit votes on its plan has been extended by 60 days i.e. up to December 30, 2024. Announcement • Sep 03
Joint Liquidation Plan & Disclosure Statement Filed by Yellow Corporation Yellow Corporation, filed a joint plan of liquidation with related disclosure statement in the US Bankruptcy Court on September 2, 2024. As per the plan filed, General Administrative Claims, Professional Fee Claims, Priority Tax Claims, Secured Tax Claims, Other Secured Claims, and Other Priority Claims shall be paid full in cash. Employee PTO/Commission Claims and Convenience Class Claims will either be satisfied in full, in Cash, or otherwise receive treatment consistent with the provisions of section 1129(a)(9) of the Bankruptcy Code. General Unsecured Claims shall receive its pro rata share of the GUC Liquidating Trust Interests and as a beneficiary shall receive, on the applicable distribution date, Intercompany Claims and Intercompany Interests, shall, at the election of the applicable Debtor, be (a) Reinstated, (b) converted to equity, (c) otherwise set off, settled, distributed, contributed, cancelled, or released, or (d) otherwise addressed at the option of the Liquidating Trustee without any distribution. Interests in Yellow Corporation shall receive its Pro Rata share of the Equity Liquidating Trust Interests and as a Beneficiary shall receive, on the applicable Distribution Date, their Pro Rata share of Distributable Proceeds derived from the Liquidating Trust Assets available for distribution on each such Distribution Date as provided under the Plan and Liquidating Trust Agreement. Section 510(b) Claims shall be canceled, released, and extinguished as of the Effective Date. The plan shall be funded through cash in hand, and sale of assets. Announcement • Feb 23
Motion for Asset Sale Approved for Yellow Corporation The US Bankruptcy Court gave an order approving the sale of certain assets of Yellow Corporation on February 22, 2024. The debtor has been authorized to sell its certain assets to Knight-Swift Transportation, Inc. for a purchase price of $2.14 million in cash. The debtor’s assets include 10 leased properties. Announcement • Jan 10
PITT OHIO, LLC acquired 57-acre terminal, 700 E. Rawson Ave from Yellow Corporation (OTCPK:YELLQ) for approximately $19.3 million. PITT OHIO, LLC acquired 57-acre terminal, 700 E. Rawson Ave from Yellow Corporation (OTCPK:YELLQ) for approximately $19.3 million on January 9, 2024.
PITT OHIO, LLC completed the acquisition of 57-acre terminal, 700 E. Rawson Ave from Yellow Corporation (OTCPK:YELLQ) on January 9, 2024. Announcement • Nov 14
Yellow Corporation announced delayed 10-Q filing On 11/13/2023, Yellow Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Oct 31
First Motion for Exclusivity Period Extension Filed by Yellow Corporation Yellow Corporation filed a motion in the US Bankruptcy Court seeking the extension of its exclusivity periods on October 30, 2023. As per the motion, the debtor seeks to extend its exclusivity periods for both, to file a plan and to solicit votes on a plan, by 90 days i.e. up to March 4, 2024 and May 2, 2024, respectively. The debtor’s current exclusivity period and solicitation period would expire on December 4, 2023 and February 2, 2024, respectively. Announcement • Sep 22
Yellow Corporation Files Form 15 Yellow Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.01 per share. Announcement • Sep 13
Yellow Announces Board Appointments On September 5, 2023, the Board of Directors (the “Board”) of Yellow Corporation (the “Company”) increased the Board size from nine (9) to eleven (11) directors and elected Mary Nell Browning and Thomas Knott to fill the Board vacancies as independent directors. The Company’s largest shareholder and participant in its debtor-in-possession financing, MFN Partners, LP, requested that the Board add two directors with significant prior experience in restructuring transactions to maximize the value of the Company for stakeholders, and specifically recommended Ms. Browning and Mr. Knott who possess said experience. Ms. Browning and Mr. Knott each meet the independence requirements under the Company’s independence standards and there are no transactions between the Company and Ms. Browning or Mr. Knott that would require disclosure under Item 404(a) of Regulation S-K. Announcement • Sep 08
Nasdaq To Delist the Common Stock of Yellow Corporation Nasdaq announced that it will delist the common stock of Yellow Corporation. Yellow Corporation’s securities were suspended on August 16, 2023, and have not traded on Nasdaq since that time. Announcement • Aug 26
MFN Management Sends a Letter to Yellow Corporation On August 23, 2023, MFN Management announced that it sent a letter to Yellow Corporation requesting that the Company fill the 2 vacancies on its board of directors by appointing 2 new directors who possess deep and relevant experience in structuring, implementing, and/or overseeing value-maximizing transactions in special situations to the Board. MFN Management has suggested one such qualified individual to fill one vacancy and intends to suggest a second individual in the near future to fill the other vacancy. MFN Management also requested that the Company consider and implement a key employee incentive and retention program. Additionally, on August 23, 2023 MFN Management sent a letter to the Office of the United State Trustee for the District of Delaware (the U.S. Trustee) requesting that the U.S. Trustee appoint an official committee of equity security holders pursuant to section 1102(a)(1) of the title 11 of the United States Code. Announcement • Aug 17
Yellow Corporation(OTCPK:YELL.Q) dropped from NASDAQ Transportation Index Yellow Corporation has been dropped from NASDAQ Transportation Index . Announcement • Aug 11
Yellow Corporation announced delayed 10-Q filing On 08/10/2023, Yellow Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 07
Yellow Corporation Filed for Bankruptcy Yellow Corporation, along with its 23 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on August 6, 2023. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Laura Davis Jones of Pachulski Stang Ziehl & Jones LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as its legal counsels. The debtor also hired Ducera Partners LLC as its investment banker, Alvarez & Marsal North America, LLC as its chief restructuring advisor and Epiq Bankruptcy Solutions LLC as its claims and noticing agent. Matthew A. Doheny is acting as chief restructuring officer. Announcement • Aug 01
Yellow Corporation May File for Bankruptcy Yellow Corporation may file for bankruptcy, as of August 1, 2023. The company is shutting down and is headed for a bankruptcy. Company has halted its operations and will lay off all 30,000 of its workers. Announcement • Jun 30
Unity Software Inc. May File for Bankruptcy Unity Software Inc. may file for bankruptcy, as of June 28, 2023. The company may file for bankruptcy in the next two years due to its poor business operations and it is in distress zone as of now. New Risk • Jun 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Negative equity (-US$437m). Earnings are forecast to decline by an average of 39% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$122m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$83.2m market cap). Major Estimate Revision • May 10
Consensus EPS estimates fall by 129% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$4.94b to US$4.64b. Losses expected to increase from US$1.44 per share to US$3.30. Transportation industry in the US expected to see average net income decline 8.4% next year. Consensus price target down from US$3.00 to US$2.75. Share price fell 23% to US$1.42 over the past week. Reported Earnings • May 04
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$1.06 loss per share (further deteriorated from US$0.54 loss in 1Q 2022). Revenue: US$1.16b (down 8.1% from 1Q 2022). Net loss: US$54.6m (loss widened 99% from 1Q 2022). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Transportation industry in the US are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.16, the stock trades at a trailing P/E ratio of 5.1x. Average forward P/E is 16x in the Transportation industry in the US. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$2.23, the stock trades at a trailing P/E ratio of 5.3x. Average forward P/E is 14x in the Transportation industry in the US. Total returns to shareholders of 23% over the past three years. Recent Insider Transactions Derivative • Mar 06
CEO & Director notifies of intention to sell stock Darren Hawkins intends to sell 47k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of March. If the sale is conducted around the recent share price of US$2.43, it would amount to US$113k. For the year to December 2016, Darren's total compensation was 52% salary and 48% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2022, Darren has owned 427.60k shares directly. Company insiders have collectively bought US$564k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Feb 21
Consensus estimates of losses per share improve by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from US$4.85b to US$4.91b. EPS estimate increased from -US$1.18 per share to -US$0.98 per share. Transportation industry in the US expected to see average net income decline 15% next year. Consensus price target of US$3.50 unchanged from last update. Share price was steady at US$2.78 over the past week. Reported Earnings • Feb 10
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.42 (up from US$2.15 loss in FY 2021). Revenue: US$5.24b (up 2.4% from FY 2021). Net income: US$21.8m (up US$130.9m from FY 2021). Profit margin: 0.4% (up from net loss in FY 2021). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 56%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Yellow Corporation to Report Q4, 2022 Results on Feb 09, 2023 Yellow Corporation announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 09, 2023 Price Target Changed • Nov 17
Price target decreased to US$5.50 Down from US$8.00, the current price target is an average from 2 analysts. New target price is 63% above last closing price of US$3.37. Stock is down 76% over the past year. The company is forecast to post earnings per share of US$0.89 next year compared to a net loss per share of US$2.15 last year. Board Change • Nov 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Javier Evans was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: US$0.093 (down from US$0.16 in 3Q 2021). Revenue: US$1.36b (up 4.5% from 3Q 2021). Net income: US$4.80m (down 42% from 3Q 2021). Profit margin: 0.4% (down from 0.6% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 04
Price target decreased to US$6.00 Down from US$8.00, the current price target is provided by 1 analyst. New target price is 96% above last closing price of US$3.06. Stock is down 72% over the past year. The company posted a net loss per share of US$2.15 last year. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: US$0.093 (down from US$0.16 in 3Q 2021). Revenue: US$1.36b (up 4.5% from 3Q 2021). Net income: US$4.80m (down 42% from 3Q 2021). Profit margin: 0.4% (down from 0.6% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 06
Price target decreased to US$8.00 Down from US$9.50, the current price target is an average from 2 analysts. New target price is 61% above last closing price of US$4.97. Stock is down 25% over the past year. The company is forecast to post earnings per share of US$1.53 next year compared to a net loss per share of US$2.15 last year. Recent Insider Transactions • Aug 16
Chief Accounting Officer recently sold US$273k worth of stock On the 9th of August, James Faught sold around 37k shares on-market at roughly US$7.46 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.5m more than they sold in the last 12 months. Recent Insider Transactions • Aug 12
Chief Accounting Officer recently sold US$273k worth of stock On the 9th of August, James Faught sold around 37k shares on-market at roughly US$7.46 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.5m more than they sold in the last 12 months. Reported Earnings • Aug 04
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$1.17 (up from US$0.18 loss in 2Q 2021). Revenue: US$1.42b (up 8.4% from 2Q 2021). Net income: US$60.0m (up US$69.4m from 2Q 2021). Profit margin: 4.2% (up from net loss in 2Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 180%. Over the next year, revenue is forecast to grow 2.4%, compared to a 13% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 24% per year. Price Target Changed • Jul 09
Price target decreased to US$6.75 Down from US$9.50, the current price target is an average from 2 analysts. New target price is 102% above last closing price of US$3.34. Stock is down 46% over the past year. The company is forecast to post earnings per share of US$0.73 next year compared to a net loss per share of US$2.15 last year. Recent Insider Transactions • May 17
CEO & Director recently bought US$102k worth of stock On the 13th of May, Darren Hawkins bought around 26k shares on-market at roughly US$3.92 per share. This was the largest purchase by an insider in the last 3 months. This was Darren's only on-market trade for the last 12 months. Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.54 loss per share (up from US$1.26 loss in 1Q 2021). Revenue: US$1.26b (up 5.2% from 1Q 2021). Net loss: US$27.5m (loss narrowed 57% from 1Q 2021). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 27%. Over the next year, revenue is forecast to grow 3.7%, compared to a 16% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Price Target Changed • Apr 27
Price target decreased to US$12.50 Down from US$15.00, the current price target is an average from 2 analysts. New target price is 198% above last closing price of US$4.20. Stock is down 53% over the past year. The company is forecast to post earnings per share of US$0.68 next year compared to a net loss per share of US$2.15 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Javier Evans was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 05
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: US$2.15 loss per share (down from US$1.28 loss in FY 2020). Revenue: US$5.12b (up 14% from FY 2020). Net loss: US$109.1m (loss widened 104% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 51%. Over the next year, revenue is forecast to grow 5.7%, compared to a 20% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Javier Evans was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 04
Insider recently bought US$135k worth of stock On the 1st of December, Douglas Carty bought around 10k shares on-market at roughly US$13.51 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$408k. Insiders have collectively bought US$820k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 11
Independent Chairman recently bought US$278k worth of stock On the 8th of November, Matthew Doheny bought around 25k shares on-market at roughly US$11.10 per share. This was the largest purchase by an insider in the last 3 months. This was Matthew's only on-market trade for the last 12 months. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.16 (vs US$0.041 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.30b (up 10.0% from 3Q 2020). Net income: US$8.30m (up US$10.3m from 3Q 2020). Profit margin: 0.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Price Target Changed • Oct 09
Price target increased to US$8.00 Up from US$7.00, the current price target is an average from 3 analysts. New target price is 13% above last closing price of US$7.10. Stock is up 42% over the past year.