Less-than-truckload company Yellow announced its bankruptcy filing in August
A number of trucking companies are set to benefit from the demise of Yellow Corp., according to Susquehanna Financial Group.
Susquehanna Financial Group analyst Bascome Majors says that the Yellow’s woes present opportunities for other companies in and around the LTL space. “We see more risk in anchoring to the past than looking optimistically toward LTL’s future,” he wrote, in a note released Wednesday.In particular, Majors highlighted XPO Inc. XPO, +0.08%, TFI Internationals Inc. TFII, -0.80%, Forward Air Corp. FWRD, +2.35%, Saia Inc. SAIA, +0.79%, and Old Dominion Freight Line Inc. ODFL, -0.82%.
“FedEx Freight gave us a taste a few weeks ago with their August quarter results,” wrote Susquehanna’s Majors on Wednesday. “But we’ll see what Yellow’s exit really means for LTL bottom lines over the coming weeks.”The analyst is also weighing the long-term impact of the forthcoming auction of Yellow’s terminals. Some 540 prospective bidders are qualified to participate in an attempt to put together a more attractive offer than large privately held carrier Estes’ $1.
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