THOMASVILLE, N.C. - Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for February 2019. Revenue per day increased 7.5% as compared to February 2018 due primarily to an increase in LTL revenue per hundredweight. For the quarter-to-date period, LTL revenue per hundredweight increased 9.6% as compared to the same period last year. LTL tons per day decreased 1.5% due to a 3.6% decrease in LTL weight per shipment that was partially offset by a 2.1% increase in LTL shipments.
Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, “While the beginning of 2019 has included a few seasonal challenges, we have focused on executing our business model and produced solid revenue growth as a result. The consistent increase in our LTL revenue per hundredweight reflects the favorable pricing environment as well as the decrease in our LTL weight per shipment. Although our yield has increased consistently, our volumes for both January and February were slightly lower than expected. Customer demand continues to be favorable, however, and the domestic economy continues to show strength. We believe these factors should support further opportunities for us to win market share and produce profitable growth in 2019.”
