Old Dominion's Tonnage Hit by Tough Comps and Continued Sluggish Industrial Sector; Pricing Stable

Following impressive growth over the past decade, Old Dominion Freight Line is the second-largest US less-than-truckload carrier by revenue (after FedEx Freight) and the clear industry leader in terms of execution, freight selection, and service quality, which is no small factor when shippers consider which carriers to use. Even during the Great Recession, the company kept its head above water thanks in part to impressive pricing discipline. While other carriers slashed rates dramatically, Old Dominion held firm, keeping core revenue per hundredweight flat.