Why Yellow Corp. Stock Is in the Fast Lane Today
Trucking company Yellow Corporation (NASDAQ: YELL) reported second-quarter earnings Wednesday that came in well ahead of expectations. Investors reacted by hitting the gas, sending Yellow shares up as much as 58% in Thursday trading, as of around noon ET.
Yellow has long been a laggard in the trucking industry, burdened with a mountain of debt taken on to consolidate the industry. But increasingly it appears the worst is behind it.
On Wednesday after markets closed, Yellow reported second-quarter earnings of $1.17 per share, easily beating the $0.45 per share analysts had expected. Revenue was $1.424 billion, slightly ahead of expectations and 8.4% above the same three months of 2021.
Source Fool.com
