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Old Dominion Truck LTL Tons and Revenues Up for July, August

September 9, 2015 By: Trucking News Staff Tags: Fleet Management, News
Old Dominion Truck LTL Tons and Revenues Up for July, August

Old Dominion Freight Line said its results for less-than-truckload (LTL) tons per day and revenue per hundredweight for July and August 2015 showed an increase of 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.

David S. Congdon, vice chairman and CEO of Old Dominion, said, “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. 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.”