Old Dominion reports August LTL tons per day up 7.5%
Old Dominion Freight Line reported certain less-than-truckload operating metrics for August. LTL tons per day increased 7.5% as compared to August 2016, due to a 6.6% increase in LTL shipments per day and a 0.8% increase in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight increased 4.1% as compared to the same period last year. David Congdon, vice chairman and CEO said, "Our revenue growth for the first two months of Q3 is consistent with the Q2 trend and includes a nice balance of volume and yield. The domestic economy continues to show signs of strength, which we believe provides us with an ongoing opportunity to win market share by delivering superior service at a fair price to our customers. We are confident that executing this proven business strategy will continue to produce long-term gains in shareholder value."