Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares are trading lower following third-quarter results.

The company reported a revenue decline of 3.0% year-over-year to $1.470 billion, missing the consensus of $1.492 billion. EPS was $1.43, missing the consensus of $1.47.

The revenue decrease is primarily due to a 4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.

The decline in LTL tons per day is attributed to a 3.4% drop in LTL shipments per day and a 1.4% reduction in LTL weight per shipment.

LTL revenue per hundredweight, excluding fuel surcharges, rose 4.6% ...