Old Dominion Freight Line Clocks 30% Increase In November LTL Revenue Per Day

Old Dominion Freight Line Inc ODFL reported less-than-truckload (LTL) operating metrics for November 2021. LTL Revenue per day increased 29.9% compared to November 2020, reflecting an 11.5% increase in LTL tons per day and LTL revenue per hundredweight.
The change in LTL tons per day was attributable to a 15.2% increase in LTL shipments per day.
For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges increased year-over-year to 16.6% and 9.4%, respectively.
"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. We also expect that strong customer demand will continue into next year, as shippers continue to value our superior service and available network capacity at a time when the industry's capacity is generally limited," commented CEO Greg C. Gantt.
Price Action: ODFL shares are trading lower by 1.81% at $352.47 on the last check Monday.

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