revenue per hundredweight

Old Dominion sets record with 74.5% operating ratio

Old Dominion double on highway

Less-than-truckload (LTL) carrier Old Dominion Freight Line (NASDAQ: ODFL) set a new operating record during the third quarter of 2020, posting a 74.5% operating ratio (OR).

On Tuesday the Thomasville, North Carolina-based company reported earnings per share of $1.71, 19 cents better than the consensus estimate and 34 cents better than the year-ago period.

“The strength of our financial results reflects the remarkable recovery in the domestic economy as well as the continued execution of our...

https://www.freightwaves.com/news/old-dominion-sets-new-record-with-745-operating-ratio

Less-than-truckload turning positive in August

Unidentified LTL rig on highway

A couple of reports from less-than-truckload carriers show trends are beginning to turn positive on a year-over-year comparison.

Old Dominion Freight Line (NASDAQ: ODFL) reported a modest increase in revenue per day for the month of August. The Thomasville, North Carolina-based carrier said in a Thursday press release the metric was up 1.3% compared to August 2019. In its second-quarter filing, the company reported a 2.9% year-over-year revenue decline during July, following an 11.4% drop in...

https://s29755.pcdn.co/news/less-than-truckload-turning-positive-in-august

ArcBest sees trends rebound during May

ArcBest double on highway

In a filing with the U.S. Securities and Exchange Commission, ArcBest Corp. (NASDAQ: ARCB) reported sequential improvement during the month of May, supportive of recent industry commentary suggesting that the less-than-truckload (LTL) market may have bottomed in April.

The Fort Smith, Arkansas-based logistics provider reported a 22% year-over-year consolidated revenue decline through the first two months of the 2020 second quarter. The April-May period of 2020 has two less working days compared...

https://s29755.pcdn.co/news/arcbest-sees-trends-rebound-during-may

April the bottom for less-than-truckload?

Old Dominion triple on highway

Old Dominion Freight Line (NASDAQ: ODFL) reported a 16.2% year-over-year decline in revenue per day during May as tonnage declined 12.1% and revenue per hundredweight, or yield, moved lower.

The less-than-truckload (LTL) carrier reported the May tonnage decline was the combination of a 16.7% decline in shipments, partially offset by a 5.4% increase in weight per shipment.

So far through the second quarter of 2020, revenue per hundredweight is down 4.7% year-over-year, 1.4% lower excluding fuel...

https://s29755.pcdn.co/news/april-the-bottom-for-less-than-truckload