ODFL - Old Dominion Freight Line revenue per day rises 14.5% for August

• Old Dominion Freight Line ( NASDAQ: ODFL ) on Wednesday said its revenue per day gained 14.5% Y/Y for Aug., reflecting an increase in less-than-truckload (LTL) revenue per hundredweight.
• LTL tons per day for Aug. fell 0.9% due to a 2.7% decrease in LTL shipments per day, which was partially offset by a 1.8% increase in LTL weight per shipment.
• "Old Dominion produced solid revenue growth for the first two months of the third quarter," the company's CEO Greg Gantt said in a statement .
• "While our volumes decreased on a year-over-year basis, we continued to improve our yield through the consistent execution of our yield management initiatives," Gantt added.
• ODFL said that for the quarter-to-date, LTL revenue per hundredweight, excluding fuel surcharges, increased 7.3% Y/Y.
• ODFL stock -2.9% to $264.06 in afternoon trading.

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