Old Dominion Freight Line (ODFL) provided a mid-quarter update on its less-than-truckload (LTL) operating metrics, reporting a 12.3% year-over-year increase in revenue per day for May 2026. This growth was driven by higher revenue per hundredweight, which offset a decline in freight volumes.
Key Details
- May 2026 Performance: Revenue per day grew 12.3% compared to May 2025, while LTL tons per day decreased by 3.8%. The decline in tonnage was attributed to a 5.3% drop in shipments per day.
- Pricing Strength: For the second quarter-to-date, LTL revenue per hundredweight increased 15.6% year-over-year. Excluding fuel surcharges, the same metric increased by 5.4%.
- Management Outlook: Despite the year-over-year decline in tonnage for April and May, CEO Marty Freeman noted that "demand has continued to improve as the quarter has progressed," expressing confidence in the company's ability to win market share.