Slide 1: Yellow Corporation First Quarter 2022 Earnings Conference Call
Yellow Corporation First Quarter 2022 Earnings Conference Call 1
Slide 2: Financial Results
Financial Results Revenue Operating Income (in millions) (in millions) $5,184 $140 $5,122 $104 $4,514 $4,562 $57 $1 2020 1Q21 LTM 2021 1Q22 LTM 2020 1Q21 LTM 2021 1Q22 LTM 2
Slide 3: Financial Results
Financial Results Adjusted EBITDA Cash and Cash Equivalents and (in millions) Managed Accessibility (in millions) $341 $440 $306 $423 $359 $277 $192 $171 2020 1Q21 LTM 2021 1Q22 LTM 12/31/2020 3/31/2021 12/31/2021 3/31/2022 3
Slide 4: Operating Statistics – First Quarter
Operating Statistics – First Quarter 1Q22 1Q21 YoY % (a) Workdays 63.5 63.5 LTL tonnage (in thousands) 1,980 2,478 (20.1) LTL tonnage per workday (in thousands) 31.18 39.02 (20.1) LTL shipments (in thousands) 3,561 4,263 (16.5) LTL shipments per workday (in thousands) 56.08 67.13 (16.5) LTL picked u
Slide 5: Capital Structure Overview
Capital Structure Overview (in millions) $1,800.0 $1,614.5 $1,606.9 $1,600.0 $1,400.0 $400.0 $400.0 UST Tranche B $1,284.0 $74.8 $1,200.0 $302.3 $311.4 $313.8 UST Tranche A $1,000.0 $68.0 $66.6 $66.0 CDA Notes $800.0 $225.9 $224.0 $221.8 Lease Financing Obligations $600.0 $400.0 $613.0 $612.5 $605.3
Slide 6: Capital Structure and Labor Timeline
Capital Structure and Labor Timeline CDA Notes Term Loan December June ABL Facility January UST Loan September IBT March 2022 2023 2024 Largest debt instruments and the labor agreement mature at various dates in 2024 6 6
Slide 7: LTM Adjusted EBITDA Covenant
LTM Adjusted EBITDA Covenant (in millions) $341 LTM as of 1Q22 $200 $150 1Q22 2Q22 and thereafter 7
Slide 8: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (in millions) LTM LTM Yellow Corporation 2020 2021 1Q 2021 1Q 2022 1Q 2021 1Q 2022 Reconciliation of net loss to Adjusted EBITDA Net loss $ (53.5) $ (109.1) $ (63.3) $ (27.5) $ (121.1) $ (73.3) Interest expense, net 135.6 150.4 35.8 37.7 143.2 152.3 Income tax expense