Old Dominion Freight Line saw continued demand weakness during the third quarter but signaled October could be the last of the big year-over-year declines for this cycle.
The less-than-truckload carrier reported $1.47 billion in revenue, a 3% y/y decline. Earnings per share of $1.43 were 1 cent ahead of the consensus estimate but 11 cents worse than the 2023 third quarter.
The company said y/y declines in operating metrics have accelerated so far in October. Revenue per day will likely be down...
https://www.freightwaves.com/news/old-dominion-points-to-october-as-a-sign-of-hope