Market Overview

Old Dominion Freight Line Provides Update for Fourth-Quarter 2017


Old Dominion Freight Line, Inc. (NASDAQ:ODFL) today reported certain
less-than-truckload ("LTL") operating metrics for November 2017. LTL
tons per day increased 13.6% as compared to November 2016, due to a
10.9% increase in LTL shipments per day and a 2.5% increase in LTL
weight per shipment. For the quarter-to-date period, LTL revenue per
hundredweight increased 4.9% as compared to the same period last year.

David S. Congdon, Vice Chairman and Chief Executive Officer of Old
Dominion, commented, "Our revenue growth thus far into the fourth
quarter includes increases in volume and yield, and reflects the ongoing
improvement in the domestic economy. Additionally, we believe these
results represent increases in our market share as customers continue to
appreciate the superior service and available network capacity that we
provide. We remain committed to investing in our business as part of our
long-term strategy to ensure that we have the capacity necessary to
support increasing customer demand, and we are confident that this
proven business model will produce further long-term gains in
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, which 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, notices or
investigations; (17) the costs and potential liabilities related to our
international business 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 (the "FMCSA") and other regulatory
agencies; (19) the costs and potential adverse impact of compliance
associated with addressing interoperability between legacy electronic
automatic on-board recording devices and electronic logging devices
("ELDs") that comply with FMCSA's ELD regulations and guidance; (20)
seasonal trends in the less-than-truckload industry, including harsh
weather conditions and disasters; (21) our dependence on key employees;
(22) the concentration of our stock ownership with the Congdon family;
(23) the costs and potential adverse impact associated with future
changes in accounting standards or practices; (24) potential costs
associated with cyber incidents and other risks, including system
failure, security breach, disruption by malware or other damage; (25)
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, which could cause us to incur costs
or result in a loss of business; (26) the costs and potential adverse
impact associated with transitional challenges in upgrading or enhancing
our technology systems; (27) damage to our reputation through
unfavorable publicity; (28) the costs and potential adverse impact of
compliance with anti-terrorism measures on our business; (29) dilution
to existing shareholders caused by any issuance of additional equity;
(30) the impact of a quarterly cash dividend or the failure to declare
future cash dividends; (31) fluctuations in the market value of our
common stock; (32) 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
(33) other risks and uncertainties described in our most recent Annual
Report on Form 10-K and other filings with the SEC. 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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