Old Dominion Freight Ups Expectations for 3rd Quarter LTL Tonnage Growth

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has increased its outlook for growth in third-quarter less-than-truckload (“LTL”) tons per day to a range of 18.0% to 18.5% over the third quarter of 2013 from the previously disclosed range of 17.0% to 18.0%.

The actual increases in LTL tons per day for July and August 2014 as compared to the same prior-year periods were 18.8% and 19.0%, respectively.

The Company also affirmed its previously disclosed expectations for comparable-quarter growth in its LTL revenue per hundredweight, excluding fuel surcharges, to be in a range of 2.0% to 2.5% for the third quarter of 2014.

David S. Congdon, President and Chief Executive Officer of Old Dominion, commented, “Our strong growth in LTL tons per day for July and August, and our expected growth for the full quarter, reflect our ongoing expansion in market share while maintaining our price discipline. The growth in our LTL tons per day has accelerated throughout 2014, which we believe is attributable to the increased demand for our superior service.”

Category: General Update