Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has released its operating metrics for May 2025, showing a 5.8% decrease in revenue per day compared to May 2024. This decrease was primarily driven by an 8.4% drop in less-than-truckload (LTL) tons per day, which was partially offset by an increase in LTL revenue per hundredweight.
The decline in LTL tons per day can be attributed to a 6.8% decrease in LTL shipments per day and a 1.9% decrease in LTL weight per shipment. However, for the quarter-to-date period, there was a positive shift, with LTL revenue per hundredweight and LTL revenue per hundredweight (excluding fuel surcharges) increasing by 3.2% and 5.6%, respectively, compared to the same period last year.
Marty Freeman, President and CEO of Old Dominion, acknowledged the challenging economic environment, citing continued softness in the domestic economy and the impact of lower fuel prices on the company's yields. Despite the year-over-year decrease in LTL volumes, Freeman highlighted the company's ability to maintain consistent market share, driven by customer appreciation of their top-notch service and ongoing yield management initiatives.
Freeman emphasized Old Dominion's commitment to executing its long-term strategic plan, leveraging its industry-leading service metrics and value proposition to win profitable market share and enhance shareholder value over the long term.
These metrics reflect the company's resilience amid economic challenges and its focus on strategic initiatives to drive future growth and value creation. The market has reacted to these announcements by moving the company's shares 1.89% to a price of $163.03. For more information, read the company's full 8-K submission here.
