Old Dominion Freight Line (ODFL) said Tuesday that its less-than-truckload, or LTL, revenue per day for February fell 5% year over year due to a 7.1% drop in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight.
The decrease in LTL tons per day was due to a 5.9% drop in LTL shipments per day and a 1.3% decrease in LTL weight per shipment, the company said.
For the quarter-to-date period, the company's LTL revenue per hundredweight and LTL revenue per hundredweight for the month, excluding fuel surcharges, increased 2.6% and 4.3%, respectively, year over year.
"The decrease in our February revenue results reflects continued softness in the domestic economy as well as the impact of lower fuel prices on our yields," Old Dominion President and CEO Marty Freeman said.
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