Old Dominion Freight Line Reports Operating Metrics For May 2024 Revenue Per Day Increased 5.6% YoY Due To A 1.5% Increase In LTL Tons Per Day And An Increase In LTL Revenue Per Hundredweight
Portfolio Pulse from Benzinga Newsdesk
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) reported a 5.6% increase in revenue per day for May 2024 compared to May 2023, driven by a 1.5% increase in LTL tons per day and higher LTL revenue per hundredweight. The increase in LTL tons per day was due to a 2.3% rise in LTL shipments per day, partially offset by a 0.7% decrease in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges rose by 4.2% and 4.7%, respectively, compared to the same period last year.
June 05, 2024 | 8:23 pm
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POSITIVE IMPACT
Old Dominion Freight Line reported a 5.6% increase in revenue per day for May 2024, driven by higher LTL tons per day and LTL revenue per hundredweight. This positive performance indicates strong operational metrics and could boost investor confidence.
The reported increase in revenue per day and positive operational metrics such as higher LTL tons per day and LTL revenue per hundredweight suggest strong performance. This is likely to positively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100