From Yahoo Finance: 2025-06-04 10:19:00

Less-than-truckload carrier Old Dominion Freight Line reported a 5.8% year-over-year revenue per day decline in May. Tonnage per day fell 8.4% with shipments down 6.8%. Despite this, two-year-stacked tonnage declines have improved. Industrial sector weakness and a Purchasing Managers’ Index in contraction territory have weighed on LTL demand.

Old Dominion has seen moderate tonnage declines, reflecting a sagging industrial sector. The PMI, a leading indicator for manufacturing activity, remained in contraction in May. The LTL industry continues to see rate increases, with Old Dominion reporting a 3.2% year-over-year increase in revenue per hundredweight for the first two months of Q2.

Despite economic softness, Old Dominion remains relatively consistent in market share. The carrier anticipates a 7% year-over-year revenue decline in Q2, with only 100 basis points of OR improvement. While the macroeconomic environment remains uncertain, the company remains focused on executing its long-term strategic plan.

Shares of ODFL were down 1.1% in early trading compared to the S&P 500. Old Dominion’s May update aligns with its prior Q2 guidance, highlighting ongoing challenges in the current economic and industrial landscape.



Read more at Yahoo Finance: Old Dominion’s May update in line with prior Q2 guide