Old Dominion Freight Line, Inc. (ODFL) updated its forecast for growth in first-quarter 2013 total tons and revenue per hundredweight, excluding fuel surcharge, in preparation for its attendance at the Morgan Stanley Chicago Freight Transport & Airlines Summit on Tuesday, March 26, 2013. The company has raised its expectations for growth in total tons for the first quarter to a range of 4.5% - 5.0%, from its earlier 4.0% - 4.5% range.
Further, the company confirmed its prior expectations for an increase in first-quarter 2013 revenue per hundredweight, excluding fuel surcharge, in a range of 2.5% - 3.0%. Based on the projected increase in total tons and pricing, Old Dominion also sees improvement in its operating ratio for the first quarter of 2013 compared with last year.
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