Old Dominion Posts Weak LTL Unit Performance for November
Portfolio Pulse from
Old Dominion Freight Line (ODFL) reported a decline in its less-than-truckload (LTL) unit performance for November 2024, with an 8.2% year-over-year decrease in revenue per day. This was due to an 8% drop in LTL tons per day and a slight decrease in LTL revenue per hundredweight.
December 04, 2024 | 5:45 pm
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NEGATIVE IMPACT
Old Dominion Freight Line reported an 8.2% decline in revenue per day for November 2024, driven by an 8% decrease in LTL tons per day and a slight decrease in LTL revenue per hundredweight.
The reported decline in revenue per day and LTL tons per day indicates weaker performance in ODFL's core business segment. This is likely to put short-term pressure on the stock price as investors react to the negative performance metrics.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100