Yellow Corporation · OTC:YELLQ
Yellow — YRC Worldwide — Q4 2019 Earnings Presentation
10 slides from Yellow's earnings presentation, Feb 4, 2020
Slide 1: YRC Worldwide Fourth Quarter 2019 Earnings Conference Call
YRC WORLDWIDE FOURTH QUARTER 2019 EARNINGS CONFERENCE CALL Exhibit 99.2
Slide 2: Statements & disclaimers
Statements & disclaimers The information in this presentation is summary in nature and may not contain all information that is important to you. The Recipient acknowledges and agrees that (i) no representation or warranty regarding the material contained in this presentation is made by YRC Worldwide
Slide 3: Multi-year strategy: 2019 foundational components and 2020 transformation
2019 COMPLETED FOUNDATIONAL COMPONENTS Ratified new 5-year labor contract Refinanced our term loan with improved and more flexible terms Reorganized our leadership team Reorganized our enterprise-wide sales force 2020 NEXT PHASE IS FOCUSED ON TRANSFORMATION Operational Optimization: Structurally imp
Slide 4: Enterprise transformation: serving our customers coast-to-coast
ENTERPRISE TRANSFORMATION Serving our customers coast-to-coast Enhance customer experience build Density drive efficiency improve asset utilization YRC Freight Service Center Reddaway Service Center New Penn Service Center Holland Service Center Border Gateways OUR NETWORKS
Slide 5: Consolidated Adjusted EBITDA
Consolidated (a) Adjusted EBITDA calculated pursuant to New Term Loan Agreement (a)
Slide 6: Capital structure
Lease Financing Obligations CDA Notes $902.8M Post-Term Loan Refinancing – 12/31/19 Pre-Term Loan Refinancing – 6/30/19 Lease Financing Obligations New Term Loan Maturity Date: June 30, 2024 CDA Notes Maturity Date: December 31, 2022 $865.0M Capital structure Old Term Loan New Term Loan introduces a
Slide 7: Key segment information
KEY SEGMENT INFORMATION (a) Percent change based on unrounded figures and not the rounded figures presented YRC Freight Regional Transportation 4Q19 4Q18 YoY % (a) 4Q19 4Q18 YoY % (a) Workdays 61.5 61.5 62.5 61.5 Total LTL tonnage (in thousands) 1,127 1,207 (6.6) 1,331 1,415 (5.9) Total LTL tonnage
Slide 8: Key segment information
KEY SEGMENT INFORMATION (a) Percent change based on unrounded figures and not the rounded figures presented With the launch of HNRY Logistics in late 2018, year-over-year revenue per hundredweight metrics that we have historically presented for YRC Freight, which includes the results of operations f
Slide 9: EBITDA reconciliation (consolidated)
Ebitda reconciliation (consolidated) ($ in millions) YRCW Consolidated 2017 2018 2019 4Q 2018 4Q 2019 Reconciliation of net income (loss) to adjusted EBITDA(a) Net income (loss) $ (10.8) $ 20.2 $(104.0) $ 17.5 $ (15.3) Interest expense, net 102.4 104.5 109.9 27.3 27.9 Income tax (benefit) expense (7
Slide 10: EBITDA reconciliation (segment)
($ in millions) EBitda reconciliation (segment) Reconciliation of Operating income (Loss) Income to Adjusted EBITDA - Segment YRC Freight Segment 2015 2016 2017 2018 2019 1Q 2018 2Q 2018 3Q 2018 4Q 2018 2Q 2019 3Q 2019 4Q 2019 First Three Quarters 2019 LTM 2Q 2019 Reconciliation of operating income