ODFL issues Q3 operating metrics
Summary
Old Dominion Freight Line (ODFL) published key August operating metrics showing softer volumes but improved pricing per unit. Revenue per day fell 4.8% year‑over‑year in August, driven by a 9.2% drop in LTL tonnage per day. The company said that decline was partly offset by higher LTL revenue per hundredweight.
On a quarter‑to‑date basis ODFL reported LTL revenue per hundredweight up 4.5% year‑on‑year, and LTL revenue per hundredweight excluding fuel surcharges up 4.7%. The company attributed the tonnage decline to an 8.2% fall in shipments per day and a 1.2% drop in weight per shipment for August.
CEO Marty Freeman said the results reflect continued softness in the domestic economy but emphasised ODFL’s service value and capacity to win profitable market share when demand recovers. The company also confirmed its second quarter earnings release is scheduled for 22 October; Q2 results showed total revenue of $1.49 billion (down 6.1%) and LTL revenue of $1.395 billion (also down 6.1%), with LTL tons per day down 9.3% year‑on‑year.
Key Points
- August revenue per day declined 4.8% year‑over‑year.
- LTL tonnage per day fell 9.2% in August; shipments per day were down 8.2% and weight per shipment down 1.2%.
- Quarter‑to‑date LTL revenue per hundredweight rose 4.5% (4.7% excluding fuel surcharge).
- CEO highlighted ODFL’s superior service and capacity to capture profitable share when demand improves.
- Q2 (reported separate) — total revenue $1.49B (-6.1%); LTL revenue $1.395B (-6.1%); LTL tons/day down 9.3%.
Why should I read this?
Quick and useful — if you follow the LTL market or manage shipping contracts, this tells you volumes are weak but price per cwt is holding up. In short: demand’s soft, pricing isn’t collapsing, and ODFL is positioning itself to grab profitable business when freight bounces back. Saves you the time of digging through the full release.
Source
Source: https://www.logisticsmgmt.com/article/odfl_issues_q3_operating_metrics
