ODFL reports solid tonnage trends in November update

The Thomasville, N.C.-based carrier reported that LTL tons per day increased 3.1% in November on an annual basis, which it said was driven by a 7% increase in LTL shipments per day that was offset by a 3.6% decrease in LTL weight per shipment.

By ·

National less-than-truckload carrier  provided guidance for key operating metrics for November.

The Thomasville, N.C.-based carrier reported that LTL tons per day increased 3.1% in November on an annual basis, which it said was driven by a 7% increase in LTL shipments per day that was offset by a 3.6% decrease in LTL weight per shipment. On a fourth quarter-to-date basis through November, ODFL said revenue per shipment was up 13.5% annually.

“Our revenue growth for the first two months of the fourth quarter reflects the ongoing strength of the domestic economy and our ability to win market share,” said Greg C. Gantt, President and Chief Executive Officer of Old Dominion, in a statement. “Customer demand continues to be favorable, and we look forward to the opportunity for further growth in 2019.”

In previous monthly updates provided by ODFL this year, Gantt mentioned that while the rate of the company’s LTL volume growth has slightly trailed what it experienced during the first half of 2018, ODFL believes change is primarily attributable to our decision to reduce the number of heavy-weighted shipments in our network. This strategic reduction also had a positive impact on LTL revenue per hundredweight. Customer demand for our service offerings remains strong, and we believe our service center network capacity will remain sufficient to support the anticipated growth of our business for the foreseeable future.

Gantt added that ODFL intends to continue to reinvest in its business to ensure that it has the necessary equipment, facilities and people to support our long-term strategic initiatives, which it believes will continue to increase shareholder value.

wrote in a research note that despite the subdued tonnage growth for ODFL, shipment trends are better than expected, while the pricing backdrop remains relatively strong.


About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.


Article Topics

LTL · ODFL · All Topics
Latest Whitepaper
Making the Case for Using a Transportation Management System for Parcel Shipping
We discuss the key pain points that all parcel shippers are dealing with right now and show how a multi-carrier transportation management system can help reduce costs, improve efficiencies, and improve the organizational bottom line.
Download Today!
From the June 2019 Logistics Management Magazine
Over the years, we’ve tried to steer clear of too many themed issues because we’re proud to offer our readers a wide breadth of industry information. The logistics and transportation market is so diverse, and shippers are looking to solve a multitude of challenges across a number of modes and services areas—never just one.

Warehouse Execution Systems (WES) Evolves Beyond “inside the four walls”
Got labor? How supply chain companies are recruiting talent during a labor crunch
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly newsletter!
Latest Webcast
How to Solve The Unique Challenges of Multi-Carrier Parcel Shipping
Join Logistyx President Ken Fleming for an appraisal of multicarrier shipping, TMS solutions and the nuances of interpreting Gartner’s Magic Quadrant for TMS, without a barcode label in sight! Using case studies, review scenarios traditional TMS solutions struggle to manage, such as high volume and international shipping, and learn why parcel shipping requires a different solution and how to design your process and architecture to leverage both effectively.
Register Today!
EDITORS' PICKS
Got labor? How supply chain companies are recruiting talent during a labor crunch
How are companies faring in the race to recruit and train high-level supply chain talent in a market...
35th Annual Salary Survey: Compensation matters more than ever
While job satisfaction remains the primary reason for today’s logistics managers to stay with one...

2019 Rate Outlook: Pressure Builds
In 2019, the world economy will enter a third straight year of broad-based growth, but many...
2019 Transportation Management Systems (TMS) Market Update: Keeping pace with the times
The transportation management systems market is growing right along with the number of challenges...
автоклав цена

платформенные весы купить

alumix.com.ua