News Content

Old Dominion Freight Line makes declining gains in January and February

OLD Dominion Freight Line, of Thomasville, North Carolina, has reported less than truck (LTL) load tonnage increased two per cent in February and 3.2 per cent in January year on year.

Declining gains were again reflected in the growth of LTL shipments per day of 6.4 per cent for January and 6.1 per cent for February year on year.

This was partially offset by a year-on-year decline in LTL weight per shipment of 4.1 per cent in January and 2.7 per cent in February.

Old Dominion's LTL revenue per hundredweight increased one per cent for January and was flat for February.

Excluding fuel surcharges, LTL revenue per hundredweight increased 4.6 per cent for January 2016 and 3.4 per cent for February 2016, as compared to the same periods in the prior year.

"Old Dominion produced solid growth for the first two months of 2016, despite the ongoing impact of a slow economy and a decline in fuel surcharges," said Old Dominion CEO David Congdon.

"We have continued to take advantage of our opportunities to win market share by delivering superior service at a fair price." he said.

Mr Condong also said he believed the pricing environment remained stable during the first two months of 2016 and yields were consistent with expectations.