YELL - Earnings call transcript Q2 2021

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Operator

Good afternoon, everyone and welcome to the Yellow Corporation Second Quarter 2021 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to Tony Carreño, Vice President of Investor Relations. Please go ahead.

Tony Carreño

good and operator you, afternoon everyone. Thank Yellow to Corporation’s second call. conference earnings XXXX quarter Welcome

the are and call Executive on us Joining today Olivier, Chief President. Officer; Darren Interim Financial Harris, Officer; Darrel Dan Chief Hawkins,

and subject this number call, of securities actual other which historical meaning therefore statements are we within and be of might are forward-looking federal make forward-looking not law. some During differ statements to call, may made a the materially. that statements risks These uncertainty and all may results on facts, this

Format to of the allow this call does fully risk not us of discuss all factors.

full Forms please factors that refer XX-K items are and a SEC on and could differ, afternoon’s of this recent to release XX-Q. website earnings These results For the available at myyellow.com. to our also discussion our cause our including risk most the filings,

a the release is release, today’s net Additionally, along during referenced available a for turn to see earnings website. will issued the Darren. filed was on with with now we reconciliation please conjunction over the call EBITDA. I and earnings an release in adjusted call. to presentation of X-K, The maybe In which our today’s loss presentation

Darren Hawkins

to compared purchase strategy am I higher ago. $XX pleased execution year our and a to of EBITDA everyone. you steps Tony the and yield a year call. compared we this of XXXX expense. and million Thank Thanks, to the QX Today, increase our million are improvement of for an afternoon transportation reported $XX.X joining mitigate we million, with good adjusted $XX.X QX of taking

e-commerce Demand has strong for a manufacturing expect we remained staircase return and LTL by full yet to to a has capacity that strength. recovering ahead, improvement. of sector driven look we As steady

shorter in are of supply U.S. each the be which middle-mile able segment, carriers of at is home appealing lifestyle drivers, ideal the the As families most haul whom with up, LTL demand for due more to for of to LTL length their and chain is keep growing much the struggles to night.

warehouses centers, positioned to remain near service the of With major requiring need for middle-mile the e-commerce population strong. growth is

is dock On the an and the supply kept workers. trucking drivers industry-wide of in by of shortage qualified being equation, check side capacity

diligently of to the imperative reflects to is our while network. flowing We needs, also such pricing making the capacity is provide. are sure our demand optimum meet market, customers’ the service we freight working In for a tight level it ensure through

grow to Our is the strategy business.

near-term over into shortage are growth However, industry-wide in growth carried to headwinds. Favorable into yield year-over-year trends pricing near-term, of drivers the purchase we and tonnage the leaning transportation manage through help QX. have

negotiations. of For XX% and averaged on contract the month between July, XX% Yellow

key We One in Yellow. are steps transformation executing to our

to During our rest quarter, voted companies. the into joining the Reddaway’s employees operating second enter Agreement, of Freight the bargaining Master National unit

the of and NMFA’s bargaining are New network our technology service, customer of the get One set with the operations, All conversion One be the platform and resources, with a now on integrated This are for lynchpin year. completed Freight the and human of streamline flow XXXX fully in-cab maintenance union and aligned the as end expiration, Reddaway sales, operating Yellow March to a single employees network by in process for to the stage Yellow. the the YRC operating technology. across information One targeted now Penn to will Yellow system

year. to half efforts having and of we fuel our on investments tractors, a and efficiency. acquisition help the the age time making safety on significant the positive progress XXXX them sustainability X,XXX enhanced expense mitigate our but of these impact improved XXX expenditures are containers during fleet, more only with the also over plan through our capital first maintenance than expect trailers, are Not and We X,XXX of

with branded being is our it equipment, new name the the in conjunction transformation. with Yellow onboard we As

have Yellow the brand. re-branded equipment We over with existing XX,XXX of also pieces

to benefits turn American to primarily this when of they July from substantially share year the period companies the The unfunded many along of law liabilities rulemaking XXXX, mitigate Act and many The about quarter. the provides through their protect pension timeline to final relief and the signed hard it and of additional details Dan the guidance status. with over pension process to earlier their it strengthen are upon into issued XXXX through including plans The call was and Rescue the will industries, on plans Plan who dependent that will XXXX. underfunded on can interim regulations. members the application concluded severely Yellow regulations now XXX-day Act I provide apply Turning eligible earned in PBGC multi-employer will funded retirees team. the the

Dan Olivier

Darren. Good you, everyone. Thank afternoon,

of prior to net second million liquidity. longer to was in Operating no million million million income was of property year, sales. of a loss a included XXXX, billion minimum revenue the For compared end as Adjusted the XXXX as we Adjusted the $XX.X operating having result the operating of quarter $X.XX $XX quarter. to billion to $XX.X the a second quarter for over $XXX second of required gain LTM million was million second XXXX. was EBITDA EBITDA of $XXX are $X.X compared $X XXXX. which maintain in $X.XX the in an million adjusted for on crossed in And million compared quarter $XXX months last EBITDA, XX

to LTL tonnage up prior June, X%. was a Including revenue day per X% April, day the workday surcharge, and for quarter weight per year, per Sequential between trends and X.X%; XX.X%; prior May, Our up reflected shipment down X.X%. growth tonnage per X.X% XX.X% quarter year-over-year up of compared up hundredweight, to revenue and as shipment tonnage was preliminary down year. LTL LTL compared and down July On X.X%. was follows: LTL the basis, second XX.X% revenue were LTL LTL fuel the was second per per

for end revenue XX.X%. Total was range at up per expenditures by XXXX. and guidance the the of a per Driven to liquidity our to compared second Excluding quarter the narrowing we capital $XXX position, total LTL million. of expenditures a hundredweight end compared fuel range up are was $XXX the $XXX at million from quarter million the revenue second were surcharge, $XXX million XXXX strong liquidity to capital $XXX shipment $XX of million was second $XXX to XX% LTL of And million year quarter $XXX our a ago. to million million

tractors through third quarter. June, trailers plus tractors to of added In than more an and XXX the end addition the additional XXX X,XXX the plus and X,XXX add expect to trailers we by

tranche brief Treasury Next, on B loan. U.S. update a

of of in As tranche has had end July, second we received $XX All $XXX drawn. the the down of quarter, been now drawn $XXX loan the million million. million. we B the And remaining

Finally, strategies targeted improved focus prioritizing to to elevated expenses, transportation over along expenses and our near-term performance our strong QX. our on demand still pricing highest purchase cost were tight the capacity. execution in yield due volume, to mitigate of with key were PT

Darrel. the we QX QX percentage revenue of PT a and turn in the over to With in the reduced call as year. will continued in However, improvement that, I of expect from half to we back XX.X% XX.X%

Darrel Harris

Dan and you, good Thank afternoon everyone.

I President Yellow. as my and the additional last would my in to an priorities priorities. During new update first earnings color With some call, quarter’s initial like of I behind these on quarter this full shared provide me, role

to priority customers’ consistently first The expectations. our is meet

allows While network in expect lanes. we to us on basis, the our of by managing are This we efficiently, our ultimately consistent executing to in carefully not where network. are freight a volume be strategy, I volume yield more particularly operate the high

optimization the the our in to customers’ while to we volume network expectations. of complete our I am including large with the through Transforming dedicated the DHL. and Year running our were journey confident I but position such overnight, company meeting company One does a pleased Yellow, we Carrier our As that multiple will on awards from that customers, am network recently happen Walmart be grow employees recognized not and of

strategies. our to priority successfully execute hiring is and retention second The

area. focus We in approach continue on a to multi-pronged this

the We academies Our Driver is than efforts. quarter. into U.S. more underway. that have Academy past fixed program hiring the support mobile the site additional can with Applicants locations doubled well currently targeted XX across have expansion in

to future. drivers committed safe are We own into our the and both now growing

our we to our bolstered have and demand. advertising continue staff strategies recruitment support spend as addition, to evolve In

in priority is third The to planned One XXXX. complete to as Yellow the enterprise transformation

continue teams, our journey for groundwork we to we One the optimizing all are brands As our moving laying the technology aligning Yellow, by platform. and strategically to one network success

and needs faster, getting a our One complete, We customers to more will locations. lanes super our on growing business. and regional new the service creating journey meeting is by When services day Yellow, laser-focused market as the of go we in offering will carrier, our regional next enhance

of the are expensive transportation, of half first expense the during over-the-road expected cartage local indicated, purchase purchase environment. and to more such year, previously had capacity use transportation which of due higher we tight As the a we necessary in both

Our include as actions adjusting to network acquired reduce in more is and headwinds purging we network short-term manage the lanes. the short-term forward. actions minimize These of transportation us yield expensive purchase equipment we use strategy to and purchase helping transportation taken expenses have rental these our going of rentals and new certain line-haul

ahead turn us, a One are Darren customers our and delivering and call to also proud grit As closing, transform team strong now this move in of making. vision employees and the meeting and committed the on needs improvement closing of we you freight professionals, company am back environment. to comments. in to dedicated while determination see the of takes work Dan, I over our some heard as our we opportunities we will I of to of such progress In forward. expect Yellow. a from for area It are of Plenty are the freight

Darren Hawkins

you, Thank Darrel.

continue for executed With company and we our of I as the the am Yellow we you equipment and our for am in be the of to Thanks this demand answer for have. its loyalty progress results. our we chain. confident dedication any for and questions high. we ahead and us improve the through and I continued I of expected well-positioned your the of supply customers afternoon. acquiring, our revenue remain tremendous American QX, ongoing manage encouraged will thankful that expectations and constraints the One and are LTL by of our we During are of my that the North what future. see journey also the progressing yield may ability am team company freight our now to showing for terms amount to Yellow as We would happy strategy, time financial employees

Operator

I will with Instructions] to that go introduce like questioner would be Please for today, and Stephens. Jack Atkins ahead. the [Operator first

Jack Atkins

Okay, great. guys. progress here quarter, Good afternoon this in good and congratulations on

with if Dan, maybe you. I could So start

maybe as could if You a X%. provide would could per Was you down that to on And just for the referenced, X% an I freight? guess, LTL-rated July helpful. I well, you July, think provide helpful. monthly on for that be be then tonnage total would that June, that also tonnage update If progression, day

Dan Olivier

Yes. in line Sure, materially first Thanks. just answer day, per with on well. our LTL tonnage the that’s Jack. yes, To that as but question, was total

Jack Atkins

Okay.

Dan Olivier

tonnage our per yield strategy increases And this X% per X%. then up course, QX day only result year, to as sequential of tonnage between was QX executing from And day a around historically, X%. and of

range average. June and X%, in with X% when tonnage I basis was really July from basis, continue between wouldn’t historical far between day would strategy. then X% and to about per day our historical basis X% from sequential QX be day change line July, yield a too tonnage mentioned which On outside is in my sequential execute than year-over-year a our a I that lower X%. per is was tonnage prepared as on As think about remarks, I down total, down And think QX that we QX. to per to we of in the

Jack Atkins

Okay.

freight there, So on perspective. sort just you a a Dan, was and just about looking for perspective from was it line were that things say When talk decline Can sort normal kind were the more June, from network? like type that from tonnage what through what living what June that quarter think of And or in purging maybe from the are third expecting freight follow of you I’m of maybe about kind guys avoid you the in to sounds we tonnage hearing we focusing of maybe to move freight July? seasonality of as in you network? you top TL moment the rated a

Darren Hawkins

is that Jack, on in American equipment been that high accounts. we area this sink. been large corporate our the out is reposition the which in to renewals truckload chain selective way of focused in Darren. our process And very North And say demand we now have spot has supply contracts the

are spots was that am equipment, and very the But And corporate yield from do. on the but us staying just real very reposition where just would strategy. to at. the was So, focus business we with away important normally that to we of level truckloads side I comfortable

just and going. the We’re like direction that sound I we strong area. in are

We in will on next on the contract Right network, you July. and profitability. are strategy the our our focused volume year. our see focused we in profitability are look that continued XX%, the we that renewals into way people will remind that equation XX% increases when now, That yield and

area. We on are in foot going gas the to keep that our

Jack Atkins

bottom that seasonality. And Okay, XQ makes sense. in Typically, about total line ratio I slightly, deteriorated XQ. guess operating to logistics then

year, we of the the normal but equipment those expect a better coming given to asking I move as do percentage maybe a sequentially? as in. that’s PT plan I’m for improved guidance, yields, on you just focus would than the seasonality, tailwinds of revenue, through think new balance the not bit With

Darren Hawkins

I want want where in around to to QX, transportation. answers quantify will quantify I specific the areas improvement before especially question of occur some do you Dan purchase asked.

the not based believe the on bench. we purchase the with the area is of the what shield the we the from can and pieces. with transportation success in that, would your subject, hiring have weeks, we dock network, about do had like this Dan seen. I question, is ahead, going us and It’s off going have our on Go since it of equation. to Darrel can believe, seen have we some and some up in answer what help I workers driver and to I And capacity one purchase to talk But coming So then add Dan. to to he that of transportation ORR it’s going recent are follow American

Dan Olivier

for million will at start Yes. our growth quarter revenue-generating million associated the transportation division. up came that cost, purchase was I the with $XX Total the $XX from Jack. that’s and of PT Logistics PTs, year-over-year. with

expect in improvement tight we Our over-the-road million. up PT and to expenses strong revenue of cartage demand was XX.X% my we prepared due PT million, QX still was a mentioned from as the the half And reduce to Rail in as I percentage PT and and in was capacity, up the but of million. $XX did $XX have QX up do remarks, local $XX are XX% in continued back year. elevated

Lastly, our will on want that, I from QX and I quarter say down and XX% second in which revenue, the SWB combined total to year. that XX% is XX% in point of PT QX last in of was from out down

you a margins, up As far as point. brought good

have the historical But basis, So continued our we our QX operating ratio expect slightly the to on a chance focus strong with historical than sequentially, increased QX. investment to yield, continued in a that from trend. better equipment, on perform I new

Jack Atkins

you Thank to hear. I encouraging, That’s think great. very Dan. Okay. and great That’s that’s

turn us quantify to initiative for maybe for talk efficiencies? complete? begin One about, pretty that’s that to maybe floor for I guess, Darren as of all and One efficiencies think is guess up quickly, could operating and you of or operating network see But for going in me, operating terms will kind into four maybe about, you really Darrel, the to we over. forward a you look XXXX I Can last you of Yellow, about maybe for the I Not system. just but unlock the integration once question show talk really asking one if on completion companies what we getting Yellow those moment will number, for So help

Darren Hawkins

One steady I on coming the has Yellow, barrier. companies we as allow position need the of year, on it mentioned, and contract the includes two then Jack, the language third companies are end us where the That the also at on the the the with last removed Coast. having the technology, Reddaway go making and the completion in we we one the the now right of One one now expiration to as of make to over Yellow progress on same contract of to our West changes a fourth the to are rest moving

national So, and carrier, contact. service able In touch, any would the being we that you service be of is through X to super-regional network that is one with do as customer could regional that we the connected. can XXXX, all way, day one X, to out environment expect, the will Yellow X the go-to-market that anyone it provide from transcontinental and accustomed

I offer is shipment the many, company get That business share. It the years market focused to why QX, the of comments Yellow. position that and by puts of worried grow to QX That’s that best and the many after our proposition. on are not area tendering actually this this segment about pricing. during You made when tonnage, a service in we we just expand on value

we’re We then to piece what strong the growth And will tonnage doing the and at and we’re One yield come to an time, One strong Yellow. when proud we’re and value we’re that. justifies that continue exciting marketplace that tonnage time. bringing same the Yellow, of around do It’s will

Jack Atkins

you great. afternoon the time Okay, this guys. Thank for

Darren Hawkins

you, Thank Jack.

Operator

will with Group ahead. Wolfe go from next Scott come Research. Please our And question

Scott Group

afternoon Good Thanks. guys.

just So follow-up want I to the on ratio. operating

normal these both, terms anything were than sub better I go give ORRs bit seasonality more back something said in the third in can carriers But you in it should quarter. this little you think near-term a union than you in can I two of half? where other margins The guess, quarter. or XX be know better us the

Darren Hawkins

believe market-leading being others. into to excellent that last right Not over the with improvement also direction. for up that coming level but improvement excellent strong I in all we a about per I have are and is then to purchase strategy that. will to steady million. This and from position piece, right of am year actual just we around yield And see staircase the the talked revenue as across we in trying hundredweight. that carrier purchase CapEx over the spot transportation hiring company that strong to have And The drive then X continue XXXX, Scott, a trends continuing weeks when about, the to in we $X.X this Yellow of move back an and transportation, in you sound going that this investments liquidity retooling look on you super progress continue the company talked that while an during market positive at strong direction. the compete that One all Largest equipment I guiding talked billion about. on demonstrate And quarter, of to with well-positioned are each we that a the $XXX regional strategy way through. wherewithal and

Scott Group

you we of going up? Okay. give where update Can you think to today? Yellow us the And terms we’re are we complete integration, on in end where terminals an with when One

Darren Hawkins

we’re be to not a that number going between dramatic the change in the Right at end of now, There is XXX. and year. now

to One our I right give customers We change are complete, we when in to this the around changing will to Yellow one equation, willing or in do thing up need that million. the XXX But geography somewhere am with capacity capacity up is XXX give market. not land maybe

of closely, probably that XXX out the going final and the three watching that be to next in number the or XXX quarters. but will are we play range north over So, two is

Scott Group

or parts opportunities be are about things other you What other do What overhead? the like, and there? think people it overhead

Darren Hawkins

as was like in But certainly, about Darrel that that and that around is transportation to few would in to seen to area support at on, the we Dan plans area some Well, recent a designed gave also have of your percentages Darrel Yellow. I transition talk you there separate look area. holding we this company make that One four when trends purchase around lots but opportunity comments companies, a

Darrel Harris

Darren. Thanks, Yes.

controlling us area, Darren yield rental have of can going returning where that that in those is and that what on whole we in when QX when obviously, in and I you with me already of expense talk focus been in in been hoops in Scott, about PT. inside hiring guess, One become targeted utilizing ensure mentioned very having the equipment, on QX really short-term are levels So there the fact you about the being we aggressive gets is in that that technology. months And multiple remain piece primary where you about QX. of got course, the locations from ongoing this seeing that were for technology, PT organization future has then costs to to we And now, away mean, our more excited high four throttle then job jump of tell I a through are the that about is I pieces are lot one the you check. component Yellow, we we

operational you along integration mentioned, the efficiencies to seen. as then, driven the platform, of And clear the are be are the are the combine on overhead opportunities so you pretty with created, network that synergies with that when being one

And strong along and now, way. this transform fundamentals the are demand our so the right we focused business efforts are in with that balancing the on environment really to we

Scott Group

to sure get PT with $XXX how I aside, am am opportunity, is trying issue that the am the million I trying, not what is just guess to overhead, really a cycle. flow opportunity, $XXX smaller at, it. million put like, ebb I number? this think No, I about and will a

Darren Hawkins

of and have is to position a staircase and and improvement show started the when our to path we our on story in Scott, One talk quarter profitability financial with each the Yellow. path this I about me

each the not phase equipment out guidance. just adequate are actions lay equation and information are to we the prepared are we the give of in give coming still but on We trying to taking,

Scott Group

this realized you process? had as savings yet any you through Do overhead think

Darren Hawkins

human in brought together. have now we Yes. as resource approach. and our Absolutely, moves have we commercial group the to and efficiencies then that standpoint, on department equation, corporate pricing those. we resource sales the that maintenance are and very well gained also it the capture From as that then side through seen streamlined structure overall. human It’s division, being happening route a continue a will It’s of our the

Scott Group

it. Alright. Thank appreciate you, I guys.

Darren Hawkins

Scott. Thank you,

Operator

question Jeff from Vertical And go come with our next will Partners. Research Kauffman Please ahead.

Jeff Kauffman

on Thank progress. the you Congratulations much. very

Darren Hawkins

you. Thank

Jeff Kauffman

of go quick but $X you PT back it’s like deducted I can Just up I that again? was the about things, don’t that we PT OTR the transportation million would think a to related business. purchase whether the to, the through talked fast I starting cartage, logistics I write have it’s don’t then I have couple the and go with a to, and as discussion. ask about being you as increase, talked intermodal math can know When you you

Dan Olivier

sure, Jeff. is This Dan. Yes,

cartridge yes, million That’s in what’s million. Rail local was logistics XX% $XX revenue-generating was division. total. tied The The right $XX So $XX PT million. and up million. year-over-year up $XX on PT to you our was was are up OTR up

Jeff Kauffman

you. Thank

as higher amount engaging just PT high? normal and you and of go or right guess you are So, prices is the think in the the get I were and from about caught right, should I percentage short that this what here XX.X% way of progression so purchase about to you issue and talked market first have were you the be the market that is in quarter, people prices in out had when the at you that people is it you

Darren Hawkins

grow million is expand it it. Darren. The of see and this and to more $XX Jeff, I it, want want in business love The double-digit logistics exploding. is growth.

our in truck down. and and will the To optimize our where some that what an $XX operation continue can $XX We in to with local city I we talk anxious impact very deal. we are point be hiring there. we it, it be material, you comfortable to The nice million that that of rail success delivery proud can am that asked, million often. see to go would about that’s have The pickup bring cartridge, and area seen March to also it local the more and

ideal long over So, have very a to of portion haul rail is drivers. portion is what of us and for right a the road, more for good us would mixture now a

nice making are operations. We progress city in

the and on transportation not. in rather purchase still over we would the that are road drivers lanes are We short we using

American to that initiatives So, last on his three does do about what and my of and do, off weeks. can for bench, move And it this doesn’t where through PTs. the to weeks some seen over the the nice worker overall we we line driver though recruiting team the expensive from capacity have comment additions Darrel coming even hiring the some piece equation two have anything continue us, more as haul away expand the

fully So, that’s that points we we working percentage and are that the very on right three with rail towards. would what would be down pace PT aligns utilizing and long be as our revenue. as total the But I lanes contractual in or that four using pleased are with service commitments,

Jeff Kauffman

of would part labor to was follow- went when growth, PT a a you. thought little a stronger, that improvement it. shipment incremental and margins looked tonnage tonnage the apologize. It X% it back expense, X%, of seem to think was Thank would have and off increase I more I X% in up, have have be That bit way. answer. on little great But be I critical, kind One growth. XX% with not to I been would yield guessed, But than that did given the I comes

and ahead just So, are items hire seem little things trying there, I just special a there just some than to if get you know of I bit expected. in higher and want were or to have would

help understand me can So, you that?

Darren Hawkins

of amount piece, to transformation requires part to, their is ties and experience tremendous terminals up that people lot new discussion seamless goes this got and a in employees But a extra are as up the we that of training part the is converting technology to have existing levels process. as in, experience organization doubling we well. the through One have of pieces. employees mentoring, sure of importantly, in two are make customers most There coming the and, new training,

organization. the And having the that the to during But invest value lot the Yellow tremendous to be of pure will to expense are they into customer are transformation One bring next several people redeployed get over we quarters. that and operational roles to through critical a will these and overhead business. normalize of All facing time, extra the

Jeff Kauffman

Okay.

at the pick guess or the is and a say is the I employed could of if some singular over market say, XXX there is I time. at, training indeed, up year it today So XXX once just this exactly done, company, from That look let’s is point system now, today. XXX, the where once points that be we revenue and expense of and

Darren Hawkins

As not high into am am I go area comment Scott, to the this this team, with will mentioned of what benefits the that system timeframe and be script. the say, One have will willing and I sooner much guidance, but I willing my mentioned expectations in you those I expectations Yellow the to normalizing. I have for made that be and I than just and

We are aggressive.

to quickly. We we going customers bring are this value that to And serious about are mission. our

Jeff Kauffman

we you be job our doing if didn’t for congratulations. your masks. Thank wouldn’t and We answers

Darren Hawkins

for the coverage. you Thank

Operator

go with our will come ahead. question next Stifel. And from Chan Please Bruce

Bruce Chan

would if able monthly trends And missed to on the a progression sequential a on couple a the gave so? Dan, Hey, you but it, the first the I do of for time. Thanks us yield by side. not, little the be have you tonnage Got give questions month? housekeeping more here you one side, good afternoon. you some for for may And bit did

Dan Olivier

basis quarter. think momentum what on renewals average, We I see I investment the sequential But typically what through about QX, average around we is yield was are to XX%. changes a of the the can And yield give on Their quarter. And don’t say that were there. I will contractual – when not. did year-over-year accelerating in XX%. still north continue we through July’s

Bruce Chan

Okay, And take is And pricing especially opening equipment, you some of great. to out some can of really start then you the sequential service even up hard any but opportunities experience some That’s, numbers, shiny a claims this, roll on little second that’s new thematic question, and bit as for you levels there. I And course, it to need up further? to of speak more don’t maybe helpful. maybe ratios.

Darren Hawkins

being being in crisis that, any on as I able customers The carrier North And still entire And right being will is to pick a with really positive up let the chain will industry now, today about also. entire well. I make Bruce. American freight. Darrel call I with supply the you appreciate start comments the

when a efficient, where it to So services those accounts are we displayed this re-handle, overcapacity. there protecting really a then is keeping claims their challenge focused network, on of larger that the get industry and see by carrier is lot from the created it each be and it carrier, an is Anytime across jams log on also we opportunity. can

will There always we purchasing in We on that are long very for certainly time. room consistent trailers improvement. have claims of period over is the a been arena. All well play new that

positive way. to haven’t in customers And the big nice bring about enough, We as very talked trailers benefit well. because The are return. a with also that tractors a a such ROI them

like company. So, all would Darrel, add in green for that the shoots anything there? you to area

Darrel Harris

Yes, workers weeks helps within allows around in the on more X we particularly as the the keep create for availability Bruce, wrong us obviously these reduce encouraged inefficiencies, direction. drive here drivers operations in claims carriers the seen dock overtime, right does things that last us of would and – the reduce network fluidity might all city we that numbers or in last and and re-handle the to what reduce have it hiring, the X us just is would the that weeks, year, now markets network some to last are in constraints experiencing certain the by and really that due track particularly employee Very best hiring tighter in are I say, the piece. capacity all

environment. And our so service to numbers we haven’t claims a seen In inflation number our when seen – compared been have we challenged have there. normal

nationwide more our importantly, level pinch the them And in where our much-needed so so network. with a need main providing focus environment badly our is high capacity our but they communication then of with they points that customers understand are, this that

to And our through. to And that lever has we are continue necessary meet the are we customers’ to so, going services that’s expectations. utilizing we can make one yield sure work why

Bruce Chan

that for Thanks great. Okay, color.

Darrel Harris

Sure.

Operator

any I would for to question-and-answer like over to closing remarks. conclude will company this the And conference turn the session. back

Darren Hawkins

any that call Thank you, contact have. the with additional I joining to thanks may to today. concludes am again you. Please and operator and back questions you operator us This everyone turning our Tony for call

Operator

Thank you. And this now presentation. today’s attending concludes today’s call. Thank you for

may You now this disconnect your lines at time.

Yellow (YELLQ) 5 Aug 212021 Q2 Earnings call transcript