YELL on NASDAQ

Yellow Corporation

Logo: Yellow Corporation, Public domain, via Wikimedia Commons4

American transportation holding company (1929–2023)

Yellow Corporation was an American transportation holding company headquartered in Overland Park, Kansas. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1929Founded1

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  • TickerYELL on NASDAQ1
  • Industrytrucking industry1
  • HeadquartersOverland Park1
  • Websitemyyellow.com
  • Incorporated inDE5
  • Business address10990 Roe Avenue, Overland Park, Ks 662115
  • Filer categoryAccelerated filer5
Ybr-hq
Photo: Americasroof, CC BY-SA 3.0, via Wikimedia Commons6

Yellow Corporation was an American transportation holding company headquartered in Overland Park, Kansas. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics. From 2006 to February 2021, Yellow was known as YRC Worldwide.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

3.8%Operating margin7
0.4%Net margin7
2.4%Revenue growth, 20227
-$70.5MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs96¢$5.1B
  • Interest3¢$162.9M
  • Income tax0¢$4.7M
  • Profit0¢$21.8M

Out of $5.2B in revenue.7

Where each dollar of operating cash went, fiscal 2022

  • Capital spending100¢$191.8M

Out of $121.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Revenue89107$5.2B in 2022+7% since 2017
0$2.0B$4.0B$6.0B2017: $4.9B$4.9B20172018: $5.1B$5.1B2018+4%2019: $4.9B$4.9B2019−4%2020: $4.5B$4.5B2020−7%2021: $5.1B$5.1B2021+13%2022: $5.2B$5.2B2022+2%
Operating income1189107$197.8M in 2022+37% since 2016
0$50.0M$100.0M$150.0M$200.0M2016: $144.5M$144.5M20162017: $119.0M$119.0M2017−18%2018: $142.9M$142.9M2018+20%2019: $16.2M$16.2M2019−89%2020: $56.5M$56.5M2020+249%2021: $103.6M$103.6M2021+83%2022: $197.8M$197.8M2022+91%
Net income1189107$21.8M in 2022+1% since 2016
-$150.0M-$100.0M-$50.0M0$50.0M2016: $21.5M$21.5M20162017: -$10.8M-$10.8M20172018: $20.2M$20.2M20182019: -$104.0M-$104.0M20192020: -$53.5M-$53.5M2020−49%2021: -$109.1M-$109.1M2021+104%2022: $21.8M$21.8M2022
Fiscal year2016201720182019202020212022
Revenue$4.9B8$5.1B9$4.9B10$4.5B7$5.1B7$5.2B7
Operating income$144.5M11$119.0M8$142.9M9$16.2M10$56.5M7$103.6M7$197.8M7
Interest$103.4M11$102.8M8$105.8M9$111.2M10$135.9M7$150.7M7$162.9M7
Income tax$3.1M11-$7.3M8$11.1M9-$4.3M10-$19.6M7$3.1M7$4.7M7
Net income$21.5M11-$10.8M8$20.2M9-$104.0M10-$53.5M7-$109.1M7$21.8M7
Earnings per share$0.6611-$0.338$0.619-$3.1310-$1.287-$2.157$0.427
Earnings per share (diluted)$0.6511-$0.338$0.609-$3.1310-$1.287-$2.157$0.427

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How it started

Foundation and early history

In 1906, Grover Cleveland "Cleve" Harrell (1884–1942) started what was to become the Yellow Cab Company of Oklahoma with a horse-drawn hack and a team of horses in Oklahoma City. After a year, he bought a Model T Ford. People were willing to pay more to ride in an automobile. After World War I, he bought two more cars and hired a relief driver. In 1918, Harrell painted one of his cars yellow. Although ridiculed by other cab drivers, he was hauling more passengers than anyone else, so he painted all his cars yellow and business boomed. Harrell trademarked the name Yellow Cab in Oklahoma. Later, John Hertz copied the Yellow Cab in Chicago and obtained the national trademark for the use of the name.

Harrell's older brother, A. J. Harrell (1883–1972), had followed him to Oklahoma City and been successful in the operation of a horse and mule business during World War I. Cleve needed extra capital for expansion, so he formed a partnership with A. J. The company's offices were moved to 113 S. Santa Fe, and their younger brother, Marvin Harrell, and their father, Jake Harrell, were added to the payroll. The partnership started a cross-country bus line connecting Oklahoma City and Tulsa, which was later sold to Pickwick Bus Company of Tulsa. Cleve established the Capital Hill Bus Lines for the southern part of Oklahoma City, which he successfully operated for several months before selling it to the Oklahoma Street Railway Company.

When oil was discovered in the Oklahoma City area, mules were needed for work in digging slush pits, so the Harrell brothers bought mules and, in 1929, established the Yellow Transit Freight Lines to serve small manufacturers for whom freight was slow and express rates were prohibitive. By 1933, with the New Deal and the NIRA, most businesses came under government regulation in an attempt to increase employment. Cleve, together with taxicab operators from other parts of the country, met in Washington, D.C. to formulate a regulatory code, but were not successful. Cleve then devised his own code and got government confirmation.

About this time, the Harrell brothers dissolved the partnership. Cleve took the taxicabs in the trade-out, as well as the Yellow Cab Dynamic Gasoline Company. He sold the taxicab business in 1940 to Eddie Fuller, who operated the Y and Y Cab Co., and maintained ownership of the gasoline company until his death on December 3, 1942. A. J. took control of the freight lines, which he operated for many years. The company remained small until 1952, when an ownership group led by George E. Powell Sr. bought the freight company. During this time, Yellow helped pioneer the concept of consolidating small freight shipments into trailer loads.

In 1968, the company name was changed from Yellow Transit Freight Lines to Yellow Freight System Inc. During the deregulation of interstate trucking in the 1980s, Yellow Freight System embarked on a massive restructuring by creating new distribution centers across the country to better serve customers. The company changed its name to Yellow Corporation in 1992, when it created a parent company, with Yellow Transportation, Inc. as its largest division.

From Wikipedia’s article on Yellow Corporation, shared under CC BY-SA 4.0.3

Former names

  • YRC Worldwide Inc.Nov 13, 2009 to Jan 29, 20215
  • YRC WORLDWIDE INCJan 3, 2006 to Feb 24, 20105
  • YELLOW ROADWAY CORPDec 15, 2003 to Dec 22, 20055

Timeline

  1. Jul 30, 2023Dissolved Dissolved1
  2. Feb 8, 2021Went public Listed on NASDAQ1
  3. Feb 4, 2021Renamed Name changed to Yellow Corp1
  4. 2006Renamed Name changed to YRC Worldwide Inc.1
  5. 1929Founded Founded1

Recent filings

  1. Feb 9, 20248-K
  2. Dec 27, 20238-K
  3. Dec 15, 20238-K
  4. Dec 1, 20238-K
  5. Nov 27, 20238-K
  6. Nov 1, 20238-K
  7. Sep 21, 20238-K
  8. Sep 14, 20233 PRIMARY DOCUMENT
  9. Sep 14, 20233 PRIMARY DOCUMENT
  10. Sep 11, 20238-K
  11. Aug 25, 20238-K
  12. Aug 25, 20234 PRIMARY DOCUMENT
  13. Aug 16, 20234 PRIMARY DOCUMENT
  14. Aug 16, 20234 PRIMARY DOCUMENT
  15. Aug 16, 20234 PRIMARY DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2