Old Dominion boosts tonnage growth predictions
Old Dominion increases 2nd-qtr tonnage growth predictions, shares rise
THOMASVILLE, N.C. (AP) -- Old Dominion boosted its second-quarter growth predictions for the amount of goods it expects to haul.
The trucking company said Friday that it now expects its second-quarter tonnage per day to increase between 5 percent and 5.5 percent, up from its previous prediction of 4.5 percent to 5 percent growth.
The company noted that average tonnage per day increased at a rate of 5.7 percent in April and 5.8 percent for May, compared with the same months in 2012.
Also on Friday, Old Dominion backed its previous prediction of a year-over-year increase in second quarter revenue per hundredweight, which measures how much a trucking company gets for every 100 pounds of goods moved, of between 1.5 percent and 2 percent, excluding fuel surcharges.
Shares of Old Dominion Freight Line Inc. rose $1.34, or 3 percent, to $43.32 in afternoon trading.
