Old Dominion Freight Line August Revenue Per Day Decrease 1.4% Y/Y; Says Decrease In Tonnage Reflects Continued Softness In Domestic Economy & Change In The Mix Of Freight
Portfolio Pulse from Benzinga Newsdesk
Old Dominion Freight Line's (ODFL) revenue per day decreased by 1.4% in August year-over-year. This decrease is attributed to a 6.0% decrease in LTL tons per day, reflecting continued softness in the domestic economy and a change in the mix of freight.
September 06, 2023 | 9:13 pm
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Old Dominion Freight Line's revenue per day decreased by 1.4% in August year-over-year due to a 6.0% decrease in LTL tons per day.
The decrease in revenue per day for ODFL is a negative indicator for the company's financial performance. This is primarily due to a decrease in LTL tons per day, which suggests a decrease in demand for their services. This could potentially lead to a decrease in the company's stock price in the short term.
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