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- Old Dominion Freight Line Inc (NASDAQ:ODFL) reported less-than-truckload (LTL) operating metrics for November 2021. LTL Revenue per day increased 29.9% compared to November 2020, reflecting an 11.5% increase in LTL tons per day and LTL revenue per hundredweight.
- The change in LTL tons per day was attributable to a 15.2% increase in LTL shipments per day.
- For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges increased year-over-year to 16.6% and 9.4%, respectively.
- "We believe the sequential change in revenue per day for the fourth quarter of 2021 will once again exceed our 10-year average for this metric. We also expect that strong customer demand will continue into next year, as shippers continue to value our superior service and available network capacity at a time when the industry's capacity is generally limited," commented CEO Greg C. Gantt.
- Price Action: ODFL shares are trading lower by 1.81% at $352.47 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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