Old Dominion sees October revenue per day down from prior year

On the company’s Q3 earnings call, Old Dominion (ODFL) stated: “On a sequential basis, our revenue per day for the third quarter decreased 1.9% when compared to the second quarter 2024, with LTL tons per day decreasing 3.2% and LTL shipments per day decreasing 1.0%. For comparison, the 10-year average sequential change for these metrics includes an increase of 3.6% in revenue per day and a 0.9% and LTL tons per day and an increase of 2.3% and LTL shipments per day. The modest sequential changes in LTL tons per day during the third quarter were as follows: you lost 4.4% as compared to June; August decreased 0.8% as compared to July, September increased 1.7% as compared to August. The 10 year average change for these respective months of 2.9% in July, an increase of 0.6% in August and an increase of 3.5 per temper for October. We expect our revenue per day will decrease approximately 11.2% to 7.8% when compared to October 2023, with a decrease of approximately 9.2% to 9.8% in our LTL tons per day. We will provide the actual revenue related details for October in our third quarter Form 10 Q.”