Benzinga | Dec 6, 2021 03:21PM EST

Old Dominion Freight Line Clocks 30% Increase In November LTL Revenue Per Day

* Old Dominion Freight Line Inc (NASDAQ:ODFL) reported less-than-truckload (LTL) operating metrics for November 2021. LTL Revenue per day increased 29.9% compared to November 2020, reflecting an 11.5% increase in LTL tons per day and LTL revenue per hundredweight.

* The change in LTL tons per day was attributable to a 15.2% increase in LTL shipments per day.

* For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges increased year-over-year to 16.6% and 9.4%, respectively.

* "We believe the sequential change in revenue per day for the fourth quarter of 2021 will once again exceed our 10-year average for this metric. We also expect that strong customer demand will continue into next year, as shippers continue to value our superior service and available network capacity at a time when the industry's capacity is generally limited," commented CEO Greg C. Gantt.

* Price Action: ODFL shares are trading lower by 1.81% at $352.47 on the last check Monday.