The head of a less-than-truckload company based in North Carolina said operating metrics for November 2024 show the continued softness in the domestic economy.
“Our revenue results for November reflect the continued softness in the domestic economy as well as the impact of lower fuel surcharge revenue on our yields,” Old Dominion Freight Line President and Chief Executive Officer Marty Freeman said in a statement. “While our LTL volumes declined on a year-over-year basis in November, the improvement in our revenue per hundredweight, excluding fuel surcharges, demonstrates our continued commitment to yield management.
“We have achieved consistent, cost-based increases in our yield metrics, excluding fuel surcharges, by remaining committed to providing our customers with superior service at a fair price,” Freeman added. “As we continue to deliver on these core elements of our long-term strategic plan, we remain confident in our ability to win market share and increase shareholder value over the long term.”
