Old Dominion Freight Line (ODFL) released its November 2025 operating update on December 2, 2025. The update shows revenue per day falling 4.4% year‑over‑year, driven by a 10.0% decline in LTL tons per day. The volume drop is largely due to a 9.4% reduction in shipments and a 0.6% decrease in weight per shipment, reflecting softness in the domestic freight market.
Despite the volume decline, ODFL increased its LTL revenue per hundredweight by 5.9% and 5.2% when fuel surcharges are excluded, a result of the company’s disciplined yield‑management program and a 4.9% general rate increase that took effect on November 3. The higher revenue per hundredweight offsets the lower volume and helps preserve margins.
The operating update follows Q4 2024 revenue of $1.39 billion and diluted EPS of $1.23, and Q3 2025 revenue of $1.41 billion with EPS of $1.28. The November figures show a continued decline in revenue per day, but the company’s focus on yield and cost control has kept earnings robust, with EPS beating consensus estimates by $0.06 per share.
CEO Marty Freeman said the November results reflect ongoing softness in the domestic economy but that ODFL’s best‑in‑class service and yield‑management initiatives continue to support pricing power. He emphasized the company’s long‑term strategic plan to win market share and increase shareholder value, underscoring confidence in the business model even amid a freight recession.
ODFL projects a sequential increase in its operating ratio of 250 to 350 basis points for Q4 2025 if revenue per day remains down 6.5% to 7%. The guidance signals management’s expectation that yield improvements and disciplined cost management will sustain profitability while the company navigates the current economic headwinds.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.