- Yellow ( NASDAQ: YELL ) stock gained 27% postmarket on Wednesday after the transportation firm reported strong Q2 results .
- YELL reported Q2 GAAP EPS of $1.15 vs. -$0.18, while revenue grew 8.4% Y/Y to $1.42B.
- Operating income more than tripled to $99.2M, which included a $3.2M net gain on property disposals, compared with $27M in Q2 2021.
- "Strong yield and efforts to manage the use of purchased transportation helped YELL achieve its highest quarterly operating income in 15 years," said CEO Darren Hawkins.
- "Elevated demand for LTL capacity continued during Q2, which drove favorable pricing environment," he added.
- Including fuel surcharge, Q2 LTL revenue per hundredweight increased 29.7% and LTL revenue per shipment rose 27.8%.
- Excluding fuel surcharge, Q2 LTL revenue per hundredweight increased 15.3% and LTL revenue per shipment rose 13.7%.
- Q2 LTL tonnage per workday decreased 16.4%.
- YELL cut its 2022 capex guidance to $250M-$300M vs. prior outlook of $325M-$400M, due to limited tractor and trailer production capacity at original equipment manufacturers.
- Shares of YELL, which ended 3.5% higher on Wednesday, have declined 61.3% YTD.
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Yellow stock jumps aftermarket on strong Q2 earnings