Old Dominion Freight Line reported record results for the 2022 second quarter on Wednesday. The less-than-truckload carrier achieved a watershed moment for the industry, posting a 69.5% operating ratio (30.5% operating margin) during the period.
The result was driven by strong yields — 9% higher year over year (y/y) excluding fuel surcharges — accompanied by only modest tonnage growth. The high-water mark for margins may be tougher to replicate in the third quarter as tonnage has begun to...
https://www.freightwaves.com/news/old-dominion-posts-industry-record-sub-70-or-in-q2