Old Dominion Boosts 1Q Tonnage Outlook

Old Dominion Freight Line said it has boosted its expectations for first-quarter tonnage growth, to 4.5% to 5% from a year ago, up from its previous guidance of 4% to 4.5% growth.

The less-than-truckload carrier also affirmed its expectations for an increase in first-quarter revenue per hundredweight, excluding a fuel surcharge, of 2.5% to 3% compared with the first quarter of 2012.

Based on the expected increases in total tons and pricing, Old Dominion said it expects year-over-year improvement in its operating ratio for the first quarter.

The company said it made the changes to its outlook in preparation for its attendance at the Morgan Stanley Chicago Freight Transport & Airlines Summit, being held Tuesday.

Old Dominion Freight Line is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.