Old Dominion Volumes Up for July and August

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has reported that its results for less-than-truckload (“LTL”) tons per day and revenue per hundredweight for July and August 2015 increased 7.7% and 5.8% in July and August 2015, respectively, compared to July and August 2014.

These increases reflected growth in shipments of 12.9% in July 2015 and 11.7% in August 2015 compared to the same months in 2014, partially offset by a year-over-year decline in LTL weight per shipment of 4.6% and 5.3% in July and August 2015, respectively.

Old Dominion also experienced a year-over-year decrease in LTL revenue per hundredweight of 0.8% for July 2015 and 1.2% in August 2015 compared to the same months in 2014, primarily due to declines in fuel surcharges. LTL revenue per hundredweight, excluding fuel surcharges, increased 5.3% and 5.6% in July and August 2015, respectively, compared to July and August 2014.

David S. Congdon, Vice Chairman and Chief Executive Officer of Old Dominion, commented, “Our LTL tons per day also continued to grow against difficult year-over-year comparisons of 18.8% and 19.0% growth for July and August 2014, respectively, and the continued decline in our LTL weight per shipment. We believe the pricing environment continues to be stable and are confident in our ability to continue to gain market share while also improving our yield.”

Category: General Update