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Old Dominion Freight Line May Revenue Declines - Quick Facts

Old Dominion Freight Line, Inc. (ODFL) reported that its revenue per day for May 2020 decreased 16.2% as compared to May 2019 due to a 12.1% decrease in LTL tons per day and a decrease in LTL revenue per hundredweight. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges decreased 4.7% and 1.4%, respectively, from last year.

Greg Gantt, CEO of Old Dominion, said, "Old Dominion's revenue results for May reflect the significant decline in the domestic economy as well as a decrease in fuel surcharge revenue. While economic uncertainty continues, we are encouraged by the gradual improvement in our daily revenue trend throughout the month of May."

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