Old Dominion Freight February Revenue Per Day Up 7.5% - Quick Facts

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) on Tuesday reported certain less-than-truckload or LTL operating metrics for February 2019.

The company's revenue per day for February 2019 increased 7.5 percent as compared to February 2018, due primarily to an increase in LTL revenue per hundredweight.

For the quarter-to-date period, LTL revenue per hundredweight increased 9.6 percent as compared to the same period last year. LTL tons per day decreased 1.5 percent due to a 3.6 percent decrease in LTL weight per shipment that was partially offset by a 2.1 percent increase in LTL shipments.

Greg Gantt, President and Chief Executive Officer of Old Dominion, said, "While the beginning of 2019 has included a few seasonal challenges, we have focused on executing our business model and produced solid revenue growth as a result. The consistent increase in our LTL revenue per hundredweight reflects the favorable pricing environment as well as the decrease in our LTL weight per shipment."