Sunday, January 21, 2018

Old Dominion reports growth in LTL shipments for July, August


Wednesday, September 9, 2015
Vice Chairman and CEO David S. Congdon said company executive were pleased with the company’s strong LTL growth in July and August. (Courtesy: OLD DOMINION FREIGHT LINE)
Vice Chairman and CEO David S. Congdon said company executive were pleased with the company’s strong LTL growth in July and August. (Courtesy: OLD DOMINION FREIGHT LINE)

THOMASVILLE, N.C. — Old Dominion Freight Line Tuesday reported its results for less-than-truckload tons per day and revenue per hundredweight for July and August 2015. LTL tons per day increased 7.7 percent and 5.8 percent in July and August 2015, respectively, compared to July and August 2014.

These increases reflected growth in shipments of 12.9 percent in July 2015 and 11.7 percent in August 2015 compared to the same months in 2014, partially offset by a year-over-year decline in LTL weight per shipment of 4.6 percent and 5.3 percent in July and August 2015, respectively.

Old Dominion also experienced a year-over-year decrease in LTL revenue per hundredweight of 0.8 percent for July 2015 and 1.2 percent in August 2015 compared to the same months in 2014, primarily due to declines in fuel surcharges. LTL revenue per hundredweight, excluding fuel surcharges, increased 5.3 percent and 5.6 percent in July and August 2015, respectively, compared to July and August 2014.

"We are pleased to report the strong growth in our LTL shipments for July and August, which were consistent with our long-term growth trends,” said David S. Congdon, vice chairman and CEO of Old Dominion. “Our LTL tons per day also continued to grow against difficult year-over-year comparisons of 18.8 percent and 19.0 percent growth for July and August 2014, respectively, and the continued decline in our LTL weight per shipment. We believe the pricing environment continues to be stable and are confident in our ability to continue to gain market share while also improving our yield."

In addition to its core LTL services, Old Dominion offers customers a broad range of logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage and container delivery and warehousing. In addition, Old Dominion offers a consumer product for household moving called OD Household Services.

Trucker staff can be reached to comment on this article at editor@thetrucker.com.

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