Market Overview

Old Dominion Freight Line Provides Update for Second-Quarter 2017


Old Dominion Freight Line, Inc. (NASDAQ:ODFL) today reported certain
less-than-truckload ("LTL") operating metrics for May 2017. LTL tons per
day increased 5.8% as compared to May 2016 due to a 5.7% increase in LTL
shipments per day and a 0.1% increase in LTL weight per shipment. For
the quarter-to-date period, LTL revenue per hundredweight increased 5.3%
and LTL revenue per hundredweight, excluding fuel surcharges, increased
3.5% as compared to the same period last year.

David S. Congdon, Vice Chairman and Chief Executive Officer of Old
Dominion, commented, "We are pleased with the growth in our LTL tons for
April and May, and believe that our growth reflects an improving
domestic economy. This growth in LTL tons is also attributable to the
consistent execution of our long-term strategic plan, which includes
delivering superior service at a fair price to our customers. By
continuing to deliver this value proposition in an improving economy, we
believe we can win market share and increase shareholder value."

Forward-looking statements in this news release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. We caution the reader that such forward-looking statements
involve risks and uncertainties that could cause actual events and
results to be materially different from those expressed or implied
herein, including, but not limited to, the following: (1) the
competitive environment with respect to industry capacity and pricing,
including the use of fuel surcharges, which could negatively impact our
total overall pricing strategy and our ability to cover our operating
expenses; (2) our ability to collect fuel surcharges and the
effectiveness of those fuel surcharges in mitigating the impact of
fluctuating prices for diesel fuel and other petroleum-based products;
(3) the negative impact of any unionization, or the passage of
legislation or regulations that could facilitate unionization, of our
employees; (4) the challenges associated with executing our growth
strategy, including our ability to successfully consummate and integrate
any acquisitions; (5) changes in our goals and strategies, which are
subject to change at any time at our discretion; (6) various economic
factors such as recessions, downturns in the economy, global uncertainty
and instability, changes in U.S. social, political, and regulatory
conditions or a disruption of financial markets may decrease demand for
our services; (7) increases in driver compensation or difficulties
attracting and retaining qualified drivers to meet freight demand; (8)
our exposure to claims related to cargo loss and damage, property
damage, personal injury, workers' compensation, group health and group
dental, including increased premiums, adverse loss development,
increased self-insured retention levels and claims in excess of insured
coverage levels; (9) cost increases associated with employee benefits,
including costs associated with employee healthcare plans; (10) the
availability and cost of capital for our significant ongoing cash
requirements; (11) the availability and cost of new equipment and
replacement parts, including regulatory changes and supply constraints
that could impact the cost of these assets; (12) decreases in demand
for, and the value of, used equipment; (13) the availability and cost of
diesel fuel; (14) the costs and potential liabilities related to
compliance with, or violations of, existing or future governmental laws
and regulations, including environmental laws, engine emissions
standards, hours-of-service for our drivers, driver fitness requirements
and new safety standards for drivers and equipment; (15) the costs and
potential liabilities related to various legal proceedings and claims
that have arisen in the ordinary course of our business, some of which
include class-action allegations; (16) the costs and potential
liabilities related to governmental proceedings, inquiries or notices;
(17) the costs and potential liabilities related to our international
business operations and relationships; (18) the costs and potential
adverse impact of compliance with, or violations of, current and future
rules issued by the Department of Transportation, the Federal Motor
Carrier Safety Administration, including its Compliance, Safety,
Accountability initiative, and other regulatory agencies; (19) seasonal
trends in the less-than- truckload industry, including harsh weather
conditions and disasters; (20) our dependence on key employees; (21) the
concentration of our stock ownership with the Congdon family; (22) the
costs and potential adverse impact associated with future changes in
accounting standards or practices; (23) potential costs associated with
cyber incidents and other risks, including system failure, security
breach, disruption by malware or other damage; (24) failure to keep pace
with developments in technology, any disruption to our technology
infrastructure, or failures of essential services upon which our
technology platforms rely could cause us to incur costs or result in a
loss of business; (25) the costs and potential adverse impact associated
with transitional challenges in upgrading or enhancing our technology
systems; (26) damage to our reputation through unfavorable publicity;
(27) the costs and potential adverse impact of compliance with
anti-terrorism measures on our business; (28) dilution to existing
shareholders caused by any issuance of additional equity; (29) the
impact of a quarterly cash dividend or the failure to declare future
cash dividends; (30) fluctuations in the market value of our common
stock; (31) the impact of certain provisions in our articles of
incorporation, bylaws, and Virginia law that could discourage, delay or
prevent a change in control of us or a change in our management; and
(32) other risks and uncertainties described in our most recent Annual
Report on Form 10-K and other filings with the Securities and Exchange
Commission. Our forward-looking statements are based upon our beliefs
and assumptions using information available at the time the statements
are made. We caution the reader not to place undue reliance on our
forward-looking statements (i) as these statements are neither a
prediction nor a guarantee of future events or circumstances, and (ii)
the assumptions, beliefs, expectations and projections about future
events may differ materially from actual results. We undertake no
obligation to publicly update any forward-looking statement to reflect
developments occurring after the statement is made, except as otherwise
required by law.

Old Dominion Freight Line, Inc. is a leading, less-than-truckload
("LTL"), union-free motor carrier providing regional, inter-regional and
national LTL services, which include ground and air expedited
transportation and consumer household pickup and delivery through a
single integrated organization. In addition to its core LTL services,
the Company offers a range of value-added services including container
drayage, truckload brokerage, supply chain consulting and warehousing.

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