ODFL February LTL Tonnage Jumps, Expectations Raised
March 10, 2014
Trucking company Old Dominion Freight Line on Monday reported an increase in its less-than-truckload tons per day for February of 11.7% compared with February 2013, following growth of 10.1% for January 2014 compared to the year before.
Based on these results and its outlook for March, the North Carolina-based carrier has raised its expectations for growth in the first-quarter 2014 LTL tons per day to a range of 11% to 11.5% from the previously reported range of 10% to 11% over the first quarter of 2013.
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% to 2.5% for the first quarter of 2014.
“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,” said David S. Congdon, president and CEO. “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.”