ODFL Raises Third Quarter Expectations
The North Carolina-based operation also affirmed its previously announced expectations for growth in its LTL revenue per hundredweight.
Less-than-truckload carrier Old Dominion Freight Line has raised its outlook for growth in third-quarter tons per day.
It now projects an increase of 18% to 18.5% over the third quarter of 2013 from the previously announced range of 17% to 18%. The actual increases in LTL tons per day for July and August 2014 compared to the same prior-year periods were 18.8% and 19%, respectively, according to the company.
The North Carolina-based operation also affirmed its previously announced expectations for growth in its LTL revenue per hundredweight, excluding fuel surcharges, to be in a range of 2% to 2.5% for the third quarter of 2014 compared to the same time a year earlier.
“Our strong growth in LTL tons per day for July and August, and our expected growth for the full quarter, reflect our ongoing expansion in market share while maintaining our price discipline,” said David S. Congdon, president and CEO of Old Dominion. “The growth in our LTL tons per day has accelerated throughout 2014, which we believe is attributable to the increased demand for our superior service.”
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