Old Dominion Freight Line (ODFL) Says May LTL Tons per Day Increased 15.3%

Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2018. LTL tons per day increased 15.3% as compared to May 2017 due to an 11.0% increase in LTL shipments per day and a 3.9% increase in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight increased 6.7% as compared to the same period last year.

Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, “Our May and quarter-to-date operating metrics remained strong, reflecting continued strength in the economy and a positive yield environment. The substantial growth in our LTL tons per day reflects ongoing gains in market share, which we believe is driven by our ability to deliver superior service at a fair price. In addition, we have invested in long-term capacity to accommodate increasing demand for our services. The three new service centers that we have opened this year and our 2018 planned capital expenditures of $555 million demonstrate our continued commitment to invest in future growth opportunities. Based on the long-term success of our business model, we are confident that continued execution will produce further long-term gains in market share and shareholder value.”

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