Old Dominion Freight Line, Inc. today reported certain less-than-truckload (“LTL”) operating metrics for August 2019. Revenue per day decreased 0.7% as compared to August 2018 due to a 5.2% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. The change in LTL tons per day was attributable to a 1.2% decrease in LTL weight per shipment and a 4.0% decrease in LTL shipments per day. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges increased 4.8% and 6.1%, respectively, as compared to the same period last year.
Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s revenue results for August reflect continued softness in the domestic economy as well as a decline in fuel surcharges. While shipments decreased on a year-over-year basis, we remained committed to our disciplined yield management process. The 4.8% increase in revenue per hundredweight, which also includes the favorable effect from the decrease in LTL weight per shipment, was supported by a stable pricing environment and our ability to deliver superior service to our customers.”
