THOMASVILLE, N.C. — Old Dominion Freight Line has reported that its per-day revenue increased to 5.6% year-over-year in May due to a 1.5% increase in less-than-load (LTL) tons per day and an increase in LTL revenue per hundredweight.
According to a news release, the change in LTL tons per day was attributable to a 2.3% increase in LTL shipments per day that was partially offset by a 0.7% decrease in LTL weight per shipment.
For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 4.2% and 4.7%, respectively, as compared to the same period last year.
“Our revenue results for May include increases in both our volumes and yield,” said Marty Freeman, president and chief executive officer at Old Dominion. “We are pleased with the ongoing improvement in our LTL revenue per hundredweight, which reflects our consistent, cost-based approach to pricing as well as stability in the overall pricing environment.”
Freeman added that the company’s results continue to be supported by the consistent execution of its long-term strategic plan.
That’s what “drives our ability to deliver superior service at a fair price to our customers,” he noted. “We believe our service metrics and value proposition remain best in class, which puts us in a strong position to win market share and increase shareholder value over the long term.”
Old Dominion Freight Line says it has posted a 5.6% revenue increase year-over-year in May. (Courtesy: Google Maps)
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
