Old Dominion (NASDAQ: ODFL) lifts May LTL revenue as volumes soften
Rhea-AI Filing Summary
Old Dominion Freight Line updated investors on key less-than-truckload operating trends for the second quarter of 2026. For May 2026, revenue per day increased 12.3% from May 2025, driven by higher LTL revenue per hundredweight.
LTL tons per day fell 3.8%, as a 5.3% decrease in LTL shipments per day was only partly offset by a 1.6% increase in LTL weight per shipment. Quarter-to-date, LTL revenue per hundredweight rose 15.6%, and LTL revenue per hundredweight excluding fuel surcharges grew 5.4% versus the prior year period. Management highlighted improving demand through the quarter, strong service metrics supporting pricing, and continued investment in its network, technology and workforce, reinforcing its focus on long-term profitable revenue growth.
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Insights
Pricing strength is offsetting softer freight volumes for Old Dominion.
Old Dominion Freight Line shows solid pricing power, with May 2026 revenue per day up 12.3% year over year despite a 3.8% decline in LTL tons per day. Higher LTL revenue per hundredweight, including a 15.6% quarter‑to‑date increase, is the key driver.
The volume decline comes from a 5.3% drop in LTL shipments per day, only partly cushioned by a 1.6% rise in weight per shipment. Management notes demand has improved as the quarter progressed, framing the softness as manageable rather than sharply deteriorating.
Quarter‑to‑date LTL revenue per hundredweight excluding fuel surcharges increased 5.4%, indicating underlying yield improvement beyond fuel. Future company filings may provide additional detail on how these trends translate into margins and overall profitability for the full second quarter of 2026.
8-K Event Classification
Key Figures
Key Terms
less-than-truckload (LTL) financial
revenue per hundredweight financial
fuel surcharges financial
forward-looking statements regulatory
Private Securities Litigation Reform Act of 1995 regulatory
union-free organization financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On June 3, 2026, Old Dominion Freight Line, Inc. issued a press release to provide an update on certain operating metrics for the second quarter of 2026. A copy of this press release is furnished as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
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Press Release dated June 3, 2026 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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OLD DOMINION FREIGHT LINE, INC. |
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/s/ Clayton G. Brinker |
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Clayton G. Brinker |
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Vice President - Accounting and Finance |
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(Principal Accounting Officer) |
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June 3, 2026 |
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Exhibit 99.1
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Adam N. Satterfield |
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Executive Vice President and Chief Financial Officer |
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(336) 822-5721 |
OLD DOMINION FREIGHT LINE PROVIDES UPDATE FOR Second QUARTER 2026
THOMASVILLE, N.C. – (June 3, 2026) – Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2026. Revenue per day increased 12.3% as compared to May 2025 due to an increase in our LTL revenue per hundredweight that was partially offset by a 3.8% decrease in LTL tons per day. The change in LTL tons per day was attributable to a 5.3% decrease in LTL shipments per day that was partially offset by a 1.6% increase in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 15.6% and 5.4%, respectively, as compared to the same period last year.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion produced solid revenue growth for the first two months of the second quarter. While our LTL tons per day declined on a year-over-year basis in both April and May, demand has continued to improve as the quarter has progressed. In addition, our best-in-class service metrics support our yield management initiatives and the ongoing improvement in our LTL revenue per hundredweight. Our consistent investments in our network, our technology and our OD Family of employees throughout the economic cycle uniquely position us to support our customers as the business environment changes. As a result, we remain confident in our ability to win market share and drive profitable revenue growth over the long-term as we continue to execute on the fundamental elements of our strategic plan.”
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 economic factors such as inflationary pressures or downturns in the domestic economy, and our inability to sufficiently increase our customer rates to offset the increase in our costs; (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) reductions in the available supply or increases in the cost of equipment and parts; (6) higher costs for or limited availability of suitable real estate; (7) the availability and cost of third-party transportation used to supplement our workforce and equipment needs; (8) fluctuations in the availability and price of diesel fuel and our ability to collect fuel surcharges, as well as the effectiveness of those fuel surcharges in mitigating the impact of fluctuating prices for diesel fuel and other petroleum-based products; (9) seasonal trends in the less-than-truckload (“LTL”) industry, harsh weather conditions and disasters; (10) the availability and cost of capital for our significant ongoing cash requirements; (11) decreases in demand for, and the value of, used equipment; (12) our ability to successfully consummate and integrate
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ODFL Provides Update for Second Quarter 2026
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June 3, 2026
acquisitions; (13) various risks arising from our international business relationships; (14) the costs and potential adverse impact of compliance with anti-terrorism measures on our business; (15) the competitive environment with respect to our industry, including pricing pressures; (16) changes in international trade policies, including with respect to tariffs; (17) our customers’ and suppliers’ businesses may be impacted by various economic factors such as recessions, inflation, downturns in the economy, global uncertainty and instability, changes in U.S. social, political, and regulatory conditions or a disruption of financial markets, which may decrease demand for our services or increase our costs; (18) the negative impact of any unionization, or the passage of legislation or regulations that could facilitate unionization, of our employees; (19) increases in the cost of employee compensation and benefit packages used to address general labor market challenges and to attract or retain qualified employees, including drivers and maintenance technicians; (20) our ability to retain our key employees and continue to effectively execute our succession plan; (21) potential costs and liabilities associated with cyber incidents and other risks with respect to our information technology systems or those of our third-party service providers, including system failure, security breach, disruption by malware or ransomware or other damage; (22) the failure to adapt to new technologies implemented by our competitors in the LTL and transportation industry, which could negatively affect our ability to compete; (23) the failure to keep pace with developments in technology, any disruption to our technology infrastructure, or failures of essential services upon which our technology platforms rely, which could cause us to incur costs or result in a loss of business; (24) disruption in the operational and technical services (including software as a service) provided to us by third parties, which could result in operational delays and/or increased costs; (25) the Compliance, Safety, Accountability initiative of the Federal Motor Carrier Safety Administration (“FMCSA”), which could adversely impact our ability to hire qualified drivers, meet our growth projections and maintain our customer relationships; (26) the costs and potential adverse impact of compliance with, or violations of, current and future rules issued by the Department of Transportation, the FMCSA and other regulatory agencies; (27) the costs and potential liabilities related to compliance with, or violations of, existing or future governmental laws and regulations, including environmental laws; (28) the effects of legal, regulatory or market responses to climate change concerns; (29) emissions-control and fuel efficiency regulations that could substantially increase operating expenses; (30) varied stakeholder expectations relating to evolving sustainability considerations and related reporting obligations; (31) the increase in costs associated with healthcare and other mandated benefits; (32) the costs and potential liabilities related to legal proceedings and claims, governmental inquiries, notices and investigations; (33) the impact of changes in tax laws, rates, guidance and interpretations; (34) the concentration of our stock ownership with the Congdon family; (35) the ability or the failure to declare and pay future cash dividends; (36) fluctuations in the amount and frequency of our stock repurchases; (37) volatility in the market value of our common stock; (38) the impact of certain provisions in our articles of incorporation, bylaws, and Virginia law that could discourage, delay or prevent a change in control of us or a change in our management; and (39) other risks and uncertainties described in our most recent Annual Report on Form 10-K and other filings with the SEC. Our forward-looking statements are based on our beliefs and assumptions using information available at the time the statements are made. We caution the reader not to place undue reliance on our forward-looking statements as (i) these statements are neither a prediction nor a guarantee of future events or circumstances and (ii) the assumptions, beliefs, expectations and projections about future events may differ materially from actual results. We undertake no obligation to publicly update any forward-looking statement to reflect developments occurring after the statement is made, except to the extent required by law.
Old Dominion Freight Line, Inc. is one of the largest North American LTL motor carriers and provides regional, inter-regional and national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. Through strategic alliances, we also provide LTL services throughout North America. In addition to our core LTL services, we offer a range of value-added services including container drayage, truckload brokerage and supply chain consulting.
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