Old Dominion Freight Line, Inc. has heightened its growth expectations for the fourth quarter of 2013 as compared with the fourth quarter of 2012. The Company expects an increase in tons per day in a range of 9.5% to 10.0%, as compared with the previous expected range of 9.0% to 10.0%. Tons per day increased at a rate of 8.5% for October 2013 and 10.3% for November 2013, as compared with the same months of 2012. The Company also expects its revenue per hundredweight, excluding fuel surcharges, to increase in a range of 1.5% to 2.0%, as compared with the previous expected range of 1.5% to 2.5%.
“We believe our growth in October and November was the result of increased market share while also maintaining our core pricing philosophy,” said David S. Congdon, president and CEO of Old Dominion. “Our updated guidance for revenue per hundredweight, excluding fuel surcharges, reflects changes to the mix of our freight that can lower this metric.”