Old Dominion reports May revenue per day down 15.7% YoY; LTL volumes decline

OLD DOMINION FREIGHT LINE, INC.

Revenue per day decreased 15.7% vs May 2022 driven by 14.4% drop in LTL tons per day.
LTL shipments per day fell 11.4% and weight per shipment decreased 3.4% in May.
QTD LTL revenue per cwt, excl. fuel, rose 7.9% as yield management offsets volume softness.
CEO cites continued domestic economy softness and lower fuel surcharge revenue.

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