Carrying excess capacity through the downcycle allowed Old Dominion Freight Line to minimize impacts to service as it onboarded Yellow’s abandoned shipments.
The less-than-truckload carrier beat third-quarter expectations Wednesday, posting earnings per share of $3.09. The result was 18 cents above consensus but 27 cents lower year over year (y/y).
“Investing ahead of the curve” remains the company’s strategy. It views the incremental cost of holding latent capacity, which allows it to be...
https://www.freightwaves.com/news/old-dominion-says-yellow-freight-redistribution-not-finished