Old Dominion Freight Line

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ODFL reported that revenue per day rose 1.2% annually, driven by an increased in LTL revenue per hundredweight, which was slightly offset by a 3.0% decrease in LTL tons per day. The company added that the change in daily LTL tons was attributed to a 3.2% decrease in LTL weight per shipment that was partially offset by a 0.2% increase in LTL shipments per day.

The cessation of Yellow continues to have repercussions throughout the $58 billion LTL market. Now, a shuffling of the capacity equation is causing strategic changes, and shippers need to adapt to the new alignment of resources to find operational success.

ODFL reported that revenue per day fell 0.9% compared to November 2022, which it said was mainly driven by a 2.3% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. And it added that the change in LTL tons per day was attributed to a 2.9% decrease in LTL weight per shipment that was partially offset by a 0.6% increase in daily LTL shipments.

The first big winner in the bankruptcy dismantling of Yellow Corp. is less-than-truckload (LTL) rival, Richmond, Va.-based Estes Express, the nation’s fourth-largest LTL carrier.

ODFL reported that revenue per day was down 1.4% annually in August, driven by a 6.0% decrease in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight. And it added that the decrease in daily LTL tonnage was related to a 1.2% decrease in LTL shipments per day and also a 4.8% decrease in LTL weight per shipment.

The battle for the remaining assets of Yellow Corp. is heading up as Old Dominion and Estes engage in a battle for terminals.

Yellow Corp. didn’t need a Teamsters strike to enter bankruptcy - in its 100th year, Yellow did it completely on its own.

LTL anticipating second-half bounce.

ODFL reported that revenue per day fell 15.7% in May compared to May 2022, which it said was mainly driven by a 14.4% decrease in LTL tons per day. And it said that the decrease in LTL tons per day was due to an 11.4% decrease in LTL shipments per day and a 3.4% decrease in LTL weight per shipment.

Logistics Management Group News Editor Jeff Berman recently spoke with Adam Satterfield, CFO of Thomasville, North Carolina-based national less-than-truckload (LTL) carriers Old Dominion Freight Line about various industry trends and themes, including: the current state of the LTL market, the freight economy, rates and pricing, and supply chain shifts, among others.

Following its recent announcement signaling a major executive leadership change, in which effective July 1, 2023, Kevin M. (“Marty") Freeman will succeed Greg C. Gantt as ODFL President and Chief Executive Officer, as per its Board of Directors, Thomasville, N.C.-based national less-than-truckload carrier Old Dominion Freight Line (ODFL) announced additional executive leadership changes this week.

The company announced this week that, effective July 1, 2023, Kevin M. (“Marty") Freeman will succeed Greg C. Gantt as ODFL President and Chief Executive Officer, as per its Board of Directors. It added that Gantt will retire from ODFL on June 30, 2023, with the expectation he will remain a company board member.

ODFL reported that revenue per day increased 7.3% annually, driven by an LTL revenue per hundredweight increase, which it said was offset by an 8.6% decrease in LTL tons per day.