Reported 4 months ago
Old Dominion Freight Line has seen a positive turnaround in tonnage metrics for the first time in almost two years, with their second-quarter update showing improvement compared to the first quarter. Despite a slight deceleration in growth rates from April to May, the company reported a 5.6% y/y revenue increase in May, a 1.5% y/y increase in tonnage, and a 4.2% y/y increase in revenue per hundredweight. The company remains cautiously optimistic about its market share and growth potential amidst the current challenging environment, contrasting its strategy with that of competitor Saia seeking to capitalize on Yellow Corp.'s shutdown fallout.
Source: YAHOO