Tonnage is growing by double digits for Old Dominion Freight Line, rising 11.7 percent year-over-year in February after climbing 10.1 percent in January.
The increase in tons per day indicates the fifth-largest less-than-truckload carrier is gaining market share, David S. Congdon, ODFL president and CEO, said March 10.
ODFL raised expectations for first-quarter tonnage growth by 1 to 1.5 percent, forecasting tons per day will increase 11 to 11.5 percent from the same quarter in 2013.
The Thomasville, N.C., company also said it expects LTL revenue per hundredweight, or yield, to rise 2 to 2.5 percent from a year ago, excluding fuel surcharge revenue.
Truckload carrier Landstar System last week reported higher than expected volume and revenue in the first two months of 2014, with revenue per load up 7 percent.
“We are clearly off to a good and fast start in 2014,” Henry Gerkens, chairman, president and CEO of Landstar, said in his mid-quarter conference call.