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We caution the reader that such forward-looking statements involve risks and uncertainties that could cause actual events and results to be materially different from those expressed or implied herein, including, but not limited to, the following: (1) the challenges associated with executing our growth strategy, and developing, marketing and consistently delivering high-quality services that meet customer expectations (2) various risks related to public health epidemics, pandemics and similar outbreaks, including the continuing impact of the COVID-19 pandemic (3) changes in our relationships with significant customers (4) our exposure to claims related to cargo loss and damage, property damage, personal injury, workers’ compensation and healthcare, increased self-insured retention or deductible levels or premiums for excess coverage, and claims in excess of insured coverage levels (5) the availability and cost of new equipment, including regulatory changes and supply constraints that could impact the cost of these assets (6) the availability and cost of third-party transportation used to supplement our workforce and equipment needs (7) the availability and price of diesel fuel and our ability to collect fuel surcharges and the effectiveness of those fuel surcharges in mitigating the impact of fluctuating prices for diesel fuel and other petroleum-based products (8) seasonal trends in the LTL industry, including harsh weather conditions and disasters (9) the availability and cost of capital for our significant ongoing cash requirements (10) decreases in demand for, and the value of, used equipment (11) our ability to successfully consummate and integrate acquisitions (12) the costs and potential liabilities related to our international business relationships (13) the costs and potential adverse impact of compliance with anti-terrorism measures on our business (14) the competitive environment with respect to our industry, including pricing pressures (15) various economic factors such as recessions, downturns in the economy, global uncertainty and instability, changes in international trade policies, changes in U.S. Through the ongoing execution of our long-term business strategies, we are confident in our ability to produce further profitable growth and increased shareholder value.”įorward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We will also continue to invest in our people, our fleet and our service center network to help ensure that the necessary elements of capacity are in place to support our anticipated volume trends.
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As part of this plan, we will continue to focus on our value proposition of delivering superior service at a fair price to our customers. We believe we can continue to win market share over the long term and, as a result, we remain fully committed to the same long-term strategic plan that has guided us for many years. The consistency in demand for our superior service has allowed us to improve our yields while also supporting our market share initiatives. Gantt, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s revenue growth exceeded 20% for both April and May of 2022, as customer demand has remained steady throughout the second quarter. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 22.4% and 9.6%, respectively, as compared to the same period last year. The change in LTL tons per day was attributable to a 2.8% increase in LTL shipments per day that was partially offset by a 0.6% decrease in LTL weight per shipment. Revenue per day increased 26.0% as compared to May 2021 due to a 2.3% increase in LTL tons per day and an increase in LTL revenue per hundredweight. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2022.