BofA Securities Downgrades Old Dominion Freight Line (ODFL) to Neutral as Volumes Hit a Pothole
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Old Dominion Freight Line Provides Update for First Quarter 2024
March 5, 2024 7:00 AM ESTTHOMASVILLE, N.C.--(BUSINESS WIRE)-- Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (LTL) operating metrics for February 2024. Revenue per day increased 1.2% as compared to February 2023 due to an increase in LTL revenue per hundredweight that was slightly offset by a 3.0% decrease in LTL tons per day. The change in LTL tons per day was attributable to a 3.2% decrease in LTL weight per shipment that was partially offset by a 0.2% increase in LTL shipments per day. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges,... More
