Old Dominion Freight Line reports 29.9% growth for November LTL revenue per day
Dec. 06, 2021 10:42 AM ETOld Dominion Freight Line, Inc. (ODFL)By: SA News Team1 Comment
- Old Dominion Freight Line (ODFL -0.3%) reports that revenue per day increased 29.9% compared to to November 2020 due to an 11.5% increase in LTL tons per day and an increase in LTL revenue per hundredweight. The change in LTL tons per day was attributable to a 15.2% increase in LTL shipments per day that was partially offset by a 3.2% decrease in LTL weight per shipment.
- "We believe the sequential change in revenue per day for the fourth quarter of 2021 will once again exceed our 10-year average for this metric," commented CEO Greg C. Gantt, adding that he expects strong customer demand to continue into next year.
- SA contributor Daniel Jones believes Old Dominion is "too pricey" after a 36% rise over the past 6 months.