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Benzinga
Benzinga
Business
Akanksha Bakshi

Old Dominion Freight Line Registers 38% Growth Revenue Per Day In February

Old Dominion ODFL Old Dominion Freight Line Inc
  • Old Dominion Freight Line Inc (NASDAQ:ODFL) reports February 2022 operating metrics, with revenue per day increasing 38.3% compared to February 2021.
  • The increase reflects an 18.3% increase in LTL tons per day and an increase in LTL revenue per hundredweight.
  • LTL shipments per day increased 19.8%, partially offset by a 1.3% decrease in LTL weight per shipment.
  • Quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 16.8% and 10.7%, respectively.
  • "Old Dominion's revenue growth for the first two months of the quarter reflects our ongoing ability to win market share while also improving our yield. Demand for our superior service, as well as the domestic economy, both remained consistently strong," commented CEO Greg C. Gantt.
  • Price Action: ODFL shares closed higher by 2.53% at $317.97 on Wednesday.
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