FW: Old Dominion could see sub-70% OR in Q2

FreightWaves reports:

Management from less-than-truckload carrier Old Dominion Freight Line told analysts on a Wednesday call that demand has remained “consistently strong” and that it continues to receive inquiries from customers “regarding the general lack of capacity within the LTL industry.” The favorable setup could allow the carrier to hang a sub-70% operating ratio on the scoreboard during the second quarter.

First-quarter revenue of $1.5 billion was 33% higher year-over-year (+25% excluding fuel surcharges) as tons per day increased 12% and revenue per hundredweight, or yield, jumped 17%. The tonnage increase was the combination of a 13% increase in shipments and a 1% decline in weight per shipment. Excluding fuel, yields were 10% higher on average in the quarter…

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More here: “Old Dominion Freight Line stock outperforms competitors“.

And here: “Old Dominion Freight Line Price Target Raised to $285“.