Old Dominion Boosts 2Q Freight Outlook
Old Dominion Freight Line raised its second-quarter outlook for growth in its less-than-truckload revenue per hundredweight, excluding fuel surcharges.
The LTL carrier projected a growth range of 3% to 3.5% over last year’s second quarter, up from its previously projected 2% to 2.5% range.
ODFL also affirmed its expectations for comparable-period growth in its LTL tons per day to be 14% to 14.5%.
The actual increase in LTL tons per day for April was 14.1%, and the company said its increase for May will be about 14.5%.
“We are pleased to report this increase in our second-quarter expectations for LTL revenue per hundredweight during a period of strong continued growth in LTL tons per day,” CEO David Congdon said in a statement.
“We believe this increase and our performance for the second quarter to-date reflect ongoing growth in our market share,” he said in a statement.
Old Dominion Freight Line ranks No. 11 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
