Less-than-truckload carriers report that the second quarter has been strong in terms of volumes, tonnage and revenue due to strong demand for spring and summer items and a strong oil and gas sector, based on numbers from publicly traded companies and conversations with privately-held ones.
However, some companies noted on first-quarter earnings calls that year-over-year comparisons would be somewhat skewed this year because Good Friday fell in the first quarter in 2016 and the second quarter this year.
Old Dominion Freight Line Inc. reported higher year-over-year operating metrics in all categories in May. Tonnage per day increased 5.8%, shipments per day rose 5.7% per day and the weight per shipment eked out a 0.1% gain.
In the second quarter, Old Dominion’s LTL revenue per 100 pounds of freight increased 3.5%, excluding fuel surcharges, compared with the same period last year. Click here to read more.