Slight improvements in volume and yield along with strict cost management allowed less-than-truckload (LTL) carrier Old Dominion Freight Line (NASDAQ: ODFL) to post its best-ever operating ratio (OR) during the third quarter of 2020.
The Thomasville, North Carolina-based carrier’s 74.5% OR, expenses as a percentage of revenue, was the result of a modest revenue increase, 1% higher year-over-year with LTL revenue excluding fuel up approximately 4%, and lower expenses as a percentage of revenue...
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