Old Dominion Raises Q3 Tonnage/Day Rate to 7-7.5%
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) today updated its expectations for growth in third-quarter 2013 tonnage per day and revenue per hundredweight, excluding fuel surcharges, in preparation for its attendance at the Citi 2013 U.S. and European Industrials Conference on Wednesday, September 18, 2013. The Company expects its growth in tonnage per day to increase in a range of 7.0% to 7.5% compared to the third quarter of 2012, versus its previous expectation of an increase in a range of 6.0% to 6.5%. Supporting this increase, average tonnage per day increased at a rate of 6.2% for July and 8.6% for August, compared to the same months in 2012. In addition, Old Dominion now expects revenue per hundredweight, excluding fuel surcharges, to increase in a range of 3.0% to 3.5% for the third quarter of 2013 from the third quarter of 2012, compared with the previous expected range of 4.0% to 4.5%.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.