Old Dominion Freight Raises Expectations in LTL Based on February Increase of 11.7%
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has reported an increase in its less-than-truckload (“LTL”) tons per day for February 2014 of 11.7% compared with February 2013.
This followed comparable-period growth of 10.1% for January 2014.
Based on these results and its outlook for March, Old Dominion has raised its expectations for growth in first-quarter 2014 LTL tons per day to a range of 11.0% to 11.5% from the previously reported range of 10.0% to 11.0% over the prior-year comparable quarter.
The Company also affirmed its expectations for comparable-period growth in LTL revenue per hundredweight, excluding fuel surcharges, to be in a range of 2.0% to 2.5% for the first quarter of 2014.
David S. Congdon, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion has continued to produce double-digit growth in LTL tons per day in a period of weak economic growth and significant adverse weather conditions, primarily through ongoing gains in market share.
“We believe the combination of substantial growth in tons with sustained yield improvement demonstrates the demand for our value proposition of superior service at a fair and equitable price.”
Category: Featured, General Update
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