Old Dominion reports Feb LTL revenue per day up 1.2%; tons per day down 3.0%

OLD DOMINION FREIGHT LINE, INC.

LTL revenue per day increased 1.2% YoY in Feb 2024; LTL tons per day decreased 3.0% due to 3.2% drop in weight per shipment.
Quarter-to-date LTL revenue per hundredweight up 3.7%; excluding fuel surcharges up 7.1% vs prior-year period.
LTL shipments per day up 0.2% YoY in February, while yield metrics improved; management cites soft economy but favorable pricing.
CEO says value proposition provides opportunity to gain market share and grow profitably when macro environment improves.

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