Slide 1: Yellow Corporation Investor Presentation Second Quarter 2022
Yellow Corporation Investor Presentation Second Quarter 2022 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 5th largest $5.1 billion 17.2 million ~32,000 316 ~14,200 ~42,000 LTL Network in North America Trucking Company in North America 2021 Revenue 2021 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
Network Optimization Phase 1 Integrating 89 legacy YRC Freight and Reddaway terminals in the Western U.S. in Phase 1 of the network optimization Phase 1 expected to be implemented this summer and enhance service in more than 4,600 zip codes Will apply lessons learned during the remaining phases Phas
Slide 6: Pick Up & Delivery: Example of Network Optimization
Pick Up & Delivery In the Northeast, we have 60 terminal operations in the “Shared Space” between New Penn (regional service) and YRC Freight (longhaul service) Future state will streamline operations and reduce duplicity in pickup and delivery operations Customer benefit is one driver can pickup &
Slide 7: Example of Network Optimization (continued)
New Penn Billerica (regional) and YRC Freight Boston (longhaul) scenario. Terminals are 11.3 miles from each other Once optimization is complete, efficiencies are gained through improved asset utilization and lower overall miles Yellow Billerica, MA Current State After P&D Optimization Yellow Boston
Slide 8: Financial Results
Financial Results Revenue (in millions) Operating Income (in millions) $5,122 ae $104 $4514 Jie | ] $1 2020 1021 LTM 2021 4022 LTM 1021 LTM 2021 1022 LTM LG
Slide 9: Financial Results
Financial Results Adjusted EBITDA (in millions) Cash and Cash Equivalents and Managed Accessibility (in millions) $341 440 $306 $423 $359 $192 $277 | | | 2020 1021 LTM 2021 1022 LIM 42/31/2020 3/31/2021 12/31/2021 3/31/2022 (VELOW) SS
Slide 10: Reinvesting in the Business: CapEx Equivalent
CapEx Equivalent as a percentage of revenue 2020 CapEx Equivalent includes less than $1M of capital value of leases (a) (a) (b) (a) Reinvesting in the Business (a)
Slide 11: 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 12: Capital Structure Overview
Term Loan Lease Financing Obligations CDA Notes UST Tranche A UST Tranche B (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
Slide 13: Multi-Employer Pension Plans
Approximately 80% of employees are represented by the International Brotherhood of Teamsters and covered by collective bargaining agreements 2022 total annual cash contributions expected to be approximately $112 million Contributions made to 29 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 In 2021, the non-union pension plans entered into a contract for a group annuity to transfer an obligat
Slide 15: Yellow Value Proposition
Strong industry position with one of the largest, most comprehensive logistics and LTL networks in North America with local, regional, national and international capabilities Multi-year enterprise transformation to One Yellow on schedule for completion in 2022, expected to create operational efficie
Slide 16: Appendix
(YELLOW / Appendix
Slide 17: Capital Structure and Labor Timeline
Largest debt instruments and the labor agreement mature at various dates in 2024 IBT March ABL Facility January Term Loan June CDA Notes December UST Loan September Capital Structure and Labor Timeline
Slide 18: Cash Flow
(b) Free cash flow = operating cash flow less acquisitions of property and equipment, net of cash proceeds from disposals During FY 2020, the Company recognized cash proceeds on the sale of terminals of approximately $53 million During FY 2021, the Company recognized cash proceeds on the sale of ter
Slide 19: LTM Adjusted EBITDA Covenant
(in millions) LTM Adjusted EBITDA Covenant $341 LTM as of 1Q22
Slide 20: Operating Statistics - First Quarter
Operating Statistics - First Quarter Workdays LTL tomage (in thousands) 1,980 2.478 (20.1) LTL tomage per workday (in thousands) 31.18 39.02 (20.1) LTL shipments (in thousands) 3.561 4.263 (165) LTL shipments per workday (in thousands) 56.08 67.13 (16.5) LTL picked up reverue/ewt s 272 S$ 22.00 305
Slide 21: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Yellow Corporation 20202021 1Q 2021 102022 Reconciliation of net loss to Adjusted EBITDA L™ L™ 1Q2021 102022 Net loss $ (635) $(1091) $ (633) $ (275) $ (121.1) $ (733) Interest expense, net 1356 © 1504 68 377 143.2 1523 Income tax expense (benefit) (196) 34 14 (0.8) (1
Slide 22: Investor Relations Contact
www.myyellow.com Tony Carreño Vice President - Investor Relations (913) 696-6108 investor@myyellow.com