ODFL Raises Second Quarter Expectations
May 27, 2014
Less-than-truckload carrier Old Dominion Freight Line on Tuesday increased its outlook for growth in second-quarter revenue per hundredweight, excluding fuel surcharges, to a range of 3% to 3.5% from the same time in 2013.
This compares to its previously estimated increase of 2% to 2.5%.
The North Carolina-based company also affirmed its expectations for comparable-period growth in its LTL tons per day to be in a range of 14% to 14.5% for the second quarter of 2014.
The actual increase in LTL tons per day for April was 14.1% and the increase for May is expected to be approximately 14.5%, both as compared to the prior-year comparable period, the company said.
“We believe this increase and our performance for the second quarter to-date reflect ongoing growth in our market share, which is being driven by demand for our value proposition of superior service at a fair and equitable price,” said David S. Congdon, president and CEO.