Slide 1: Yellow Corporation Investor Presentation Second Quarter 2023
Yellow Corporation Investor Presentation Second Quarter 2023 Exhibit 99.1
Slide 2: Disclaimer and forward-looking statements
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 Yellow Corporation (the “Company” or “
Slide 3: Yellow At a Glance
Yellow At a Glance Premium LTL transportation & Logistics Services Provider 2nd largest 7th largest $5.2 billion 14.2 million ~30,000 308 ~12,700 ~42,000 LTL Network in North America Trucking Company in North America 2022 Revenue 2022 Shipments Employees Terminals Tractors Trailers
Slide 4: Roadmap to One Yellow
Pre-Transformation Super-Regional Carrier Integrated nationwide LTL service YELLOW Service Centers Border Gateway Legend Roadmap to One Yellow Simplify Sales Team Streamline enterprise-wide sales team to provide customers a single point of contact for all brands Realign Operational Leadership Struct
Slide 5: Network Optimization Phase One
Network Optimization Phase One Phase One successfully implemented in September 2022 Integrated 89 legacy YRC Freight and Reddaway terminals in the Western U.S. Customers are seeing the benefits with an improvement in the percentage of shipments going out for delivery before 9:00 a.m. and a reduction
Slide 6: Network Optimization: Eliminating Overlap and Duplication
Network Optimization Eliminating Overlap and Duplication The One Yellow super-regional network will streamline operations and reduce duplication in pickup and delivery operations Customer benefit is one driver can pickup and deliver both regional and long haul shipments
Slide 7: Financial Results
Financial Results Revenue Operating Income (in millions) (in millions) $5,245 $5,122 Canes $5,143 $ 198 $179 $140 2021 1Q22 LTM 2022 1Q23 LTM 2021 1Q22 LTM 2022 1Q23 LTM (YELLOW) =
Slide 8: Financial Results: LTM Adjusted EBITDA
Financial Results LTM Adjusted EBITDA covenant is $200 million in 2Q 2022 and thereafter
Slide 9: Cash Flow
Free cash flow = operating cash flow less acquisitions of property and equipment, net of cash proceeds from disposals During FY 2021, the Company recognized cash proceeds on the sale of terminals of approximately $1 million During FY 2022, the Company recognized cash proceeds on the sale of terminal
Slide 10: Reinvesting in the Business
CapEx Equivalent as a percentage of revenue. Percent change based on unrounded figures. (a) (a) (a) Reinvesting in the Business (a)
Slide 11: Capital Structure Overview
CDA Notes (in millions) UST Tranche A carries a variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 2, 3 or 6-month USD Libor with a floor of 1.0%, plus a fixed margin of 3.5%. 1.5% is paid in cash and the remainder paid-in-kind (PIK). The Tranche A balance i
Slide 12: Leverage Ratio
Leverage Ratio Note: Funded debt balances based on par value Growing into capital structure LTM 1Q23 Funded Debt / LTM Adjusted EBITDA ratio down 0.64 compared to 2021
Slide 13: Multi-Employer Pension Plans
Approximately 80% of employees are represented by the International Brotherhood of Teamsters and covered by collective bargaining agreements 2023 total annual cash contributions expected to be approximately $102 million Contributions made to 33 multi-employer pension plans with various levels of und
Slide 14: Single-Employer Pension Plans (Non-Union)
Certain employees not covered by collective bargaining agreements Plans closed to new participants effective January 1, 2004 with benefit accrual for active employees frozen effective July 1, 2008 2023 cash contributions expected to be nominal Single-Employer Pension Plans (Non-Union) Refer to the C
Slide 15: Yellow Value Proposition
An industry leader with one of the largest, most comprehensive logistics and LTL networks in North America providing local, regional, national and international capabilities Multi-year enterprise transformation to One Yellow expected to create operational efficiencies that enhance customer service,
Slide 16: Appendix
(YELLOW | Appendix
Slide 17: Capital Structure Maturities and Labor Timeline
IBT March ABL Facility January Term Loan June UST Loan September Capital Structure Maturities and Labor Timeline
Slide 18: CARES Act Funding
Equity U.S. Treasury received 15.94 million shares of common stock and is the Company’s largest shareholder with approximately 30% of outstanding shares Debt U.S. Treasury loan provided two tranches totaling $700 million in aggregate principal commitments Tranche A for $300 million covered deferred
Slide 19: Operating Statistics – First Quarter
(a) Percent change based on unrounded figures and not the rounded figures presented Operating Statistics – First Quarter
Slide 20: Adjusted EBITDA Reconciliation
(in millions) Adjusted EBITDA Reconciliation
Slide 21: Investor Relations Contact
www.myyellow.com Tony Carreño Senior Vice President of Treasury and Investor Relations (913) 696-6108 investor@myyellow.com