Old Dominion Boosts Third-Quarter Freight Outlook

Old Dominion Freight Line raised its third-quarter outlook for growth in its less-than-truckload tons per day.

The Thomasville, North Carolina-based carrier projected a growth range of 18% to 18.5% over last year’s third quarter, up from its previously projected 17%-to-18% range.

ODFL also affirmed its expectations for comparable-period growth in its LTL revenue per hundredweight, excluding fuel surcharges, to be 2% to 2.5%.

The actual increases in LTL tons per day for July and August were 18.8% and 19%, respectively.

“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,” CEO David Congdon said in a statement.

“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,” he added.

Old Dominion Freight Line ranks No. 12 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.