Old Dominion has increased its tonnage expectations for the fourth quarter, increasing its estimated tonnage-per-day growth range by half a percent. The carrier said it will likely see year-over-year growth of between 9.5 percent and 10 percent.
The carrier also fine-tuned its growth expectations for revenue per hundredweight from between 1.5 percent and 2.5 percent to an estimate of between 1.5 percent and 2 percent.
Officials raised tonnage-per-day expectations due to increases of 8.5 percent in October and 10.3 percent in November.
"Old Dominion has continued to produce solid revenue growth in the fourth quarter of 2013 through a combination of increased tons and yield," Old Dominion's president, David Congdon, said in a statement. "We believe our growth in October and November was the result of increased market share while also maintaining our core pricing philosophy. Our updated guidance for revenue per hundredweight, excluding fuel surcharges, reflects changes to the mix of our freight that can lower this metric. We remain committed to providing superior service at a fair and equitable price and believe this value proposition should allow us to continue to win market share."