Old Dominion, Saia Report Increased Shipments for Start of Year
Two publicly traded less-than-truckload carriers reported higher year-over-year results for the first two months of 2017 in terms of shipments and revenue.
Old Dominion Freight Line Inc. reported that LTL tons per day increased 1.3% last month versus February 2015 after a 2.2% year-over-year increase in January. Weight per shipment increased 1%, and shipments per day rose 0.3%.
RELATED: Saia, Old Dominion miss analyst forecasts for fourth quarter
Revenue per 100 pounds of freight increased 4% year-over-year, the company said. Industry analysts forecast that the Thomasville, North Carolina, carrier will earn $65.3 million in net income for the quarter, or 79 cents per share, up 8.2% year-over-year, according to a Bloomberg News consensus survey.
Saia Inc. reported tonnage per day increased 0.9% last month and 1.5% in January. Shipments per day rose 2.9% last month and 1.9% in January.
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The company didn’t disclose revenue per 100 pounds of freight in its filing to the Securities and Exchange Commission. Industry analysts forecast the Johns Creek, Georgia, carrier will earn $10.4 million in net income, or 41 cents, down between 1% and 2% year-over-year.
Old Dominion ranks No. 11 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers. Saia is No. 25.
