2 months ago
Less-than-truckload carrier Old Dominion Freight Line saw yield growth accelerate in August, but tonnage remained slightly negative, according to a Thursday update.
The Thomasville, North Carolina-based company's daily revenue increased 12.4% year over year in August, an improvement from the 8.2% y/y growth rate logged in July. However, diesel fuel prices increased 46% y/y in August compared with a 31% y/y increase in July. (Fuel was up 10% sequentially in August.)
Less-than-truckload fuel surcharge programs include a step function as diesel prices rise, typically resulting in better margins.
Old Dominion's (NASDAQ: ODFL) yield growth accelerated from July, both with and without fuel surcharges. August revenue per hundredweight (yield) was likely 13% higher y/y with fuel surcharges, and roughly 5.5% higher excluding fuel. The July growth rates were 9.3% and 4.2%, respectively. (Growth rates for the two months combined were 11.3% and 4.8%, respectively.) Higher shipment weights were a modest drag on the yield metrics in both months.
"Old Dominion produced solid revenue growth for July and August, with underlying demand trends remaining relatively consistent as the quarter has progressed," said Marty Freeman, president and CEO, in a news release. "In addition, the strength and consistency of our industry-leading service continue to support the ongoing improvement in our LTL revenue per hundredweight."
#revenue #higher
The Thomasville, North Carolina-based company's daily revenue increased 12.4% year over year in August, an improvement from the 8.2% y/y growth rate logged in July. However, diesel fuel prices increased 46% y/y in August compared with a 31% y/y increase in July. (Fuel was up 10% sequentially in August.)
Less-than-truckload fuel surcharge programs include a step function as diesel prices rise, typically resulting in better margins.
Old Dominion's (NASDAQ: ODFL) yield growth accelerated from July, both with and without fuel surcharges. August revenue per hundredweight (yield) was likely 13% higher y/y with fuel surcharges, and roughly 5.5% higher excluding fuel. The July growth rates were 9.3% and 4.2%, respectively. (Growth rates for the two months combined were 11.3% and 4.8%, respectively.) Higher shipment weights were a modest drag on the yield metrics in both months.
"Old Dominion produced solid revenue growth for July and August, with underlying demand trends remaining relatively consistent as the quarter has progressed," said Marty Freeman, president and CEO, in a news release. "In addition, the strength and consistency of our industry-leading service continue to support the ongoing improvement in our LTL revenue per hundredweight."
#revenue #higher
3 months ago
Here's a look at the schedule for this week's Triad Kick-Off Classic high school football jamboree hosted by the High Point-Thomasville HiToms.
Scrimmages will be Wednesday and Friday at the High Point Athletic Complex.
On Wednesday, in a JV matchup to start, High Point Christian and Ragsdale will take on Bishop McGuinness and High Point Central at 6 p.m. Ragsdale and Bishop will meet in a varsity matchup at 7, and the teams will trade off against Jordan-Matthews at 7:20. Games will be in AJ Simeon Stadium.
On Friday, with JV games at adjacent Aderholdt Track and varsity games in AJ Simeon Stadium, Jordan-Matthews and East Davidson will play while Glenn and Ledford will also play at 6. Southeast Guilford-Thomasville and Southern Guilford-Southwest Guilford will be at 7:30. High Point Christian and TW Andrews will be at 8:45.
#high #thomasville #christian
Scrimmages will be Wednesday and Friday at the High Point Athletic Complex.
On Wednesday, in a JV matchup to start, High Point Christian and Ragsdale will take on Bishop McGuinness and High Point Central at 6 p.m. Ragsdale and Bishop will meet in a varsity matchup at 7, and the teams will trade off against Jordan-Matthews at 7:20. Games will be in AJ Simeon Stadium.
On Friday, with JV games at adjacent Aderholdt Track and varsity games in AJ Simeon Stadium, Jordan-Matthews and East Davidson will play while Glenn and Ledford will also play at 6. Southeast Guilford-Thomasville and Southern Guilford-Southwest Guilford will be at 7:30. High Point Christian and TW Andrews will be at 8:45.
#high #thomasville #christian
