ODFL Forecasting Fourth Quarter Tonnage Growth
Less-than-truckload carrier Old Dominion Freight Line on Tuesday updated its expectations for growth in tons per day and revenue per hundredweight for the fourth quarter of this year, saying it now expects a larger increase in tons per day.
Less-than-truckload carrier Old Dominion Freight Line on Tuesday updated its expectations for growth in tons per day and revenue per hundredweight for the fourth quarter of this year.
It expects an increase in tons per day in a range of 9.5% to 10%, compared with the previous expected range of 9% to 10%. Tons per day increased at a rate of 8.5% for October 2013 and 10.3% for November 2013, compared with the same months of 2012.
The company also expects its revenue per hundredweight, excluding fuel surcharges, to increase in a range of 1.5% to 2%, compared with the previous expected range of 1.5% to 2.5%.
"Old Dominion has continued to produce solid revenue growth in the fourth quarter of 2013 through a combination of increased tons and yield. We believe our growth in October and November was the result of increased market share while also maintaining our core pricing philosophy,” said David S. Congdon, president and CEO.
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