Old Dominion Freight Line Provides Update for First-Quarter 2017
March 02 2017 - 4:05PM
Business Wire
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) today reported
certain less-than-truckload (“LTL”) operating metrics for February
2017. LTL tons per day increased 1.3% as compared to February 2016
due to a 1.0% increase in LTL weight per shipment and a 0.3%
increase in LTL shipments per day. For the quarter-to-date period,
LTL revenue per hundredweight increased approximately 4.0% as
compared to the same period last year and LTL revenue per
hundredweight, excluding fuel surcharges, increased approximately
1.5%.
Forward-looking statements in this news release are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. We caution the reader that such
forward-looking statements involve risks and uncertainties that
could cause actual events and results to be materially different
from those expressed or implied herein, including, but not limited
to, the following: (1) the competitive environment with respect to
industry capacity and pricing, including the use of fuel
surcharges, which could negatively impact our total overall pricing
strategy and our ability to cover our operating expenses; (2) our
ability to collect fuel surcharges and the effectiveness of those
fuel surcharges in mitigating the impact of fluctuating prices for
diesel fuel and other petroleum-based products; (3) the negative
impact of any unionization, or the passage of legislation or
regulations that could facilitate unionization, of our employees;
(4) the challenges associated with executing our growth strategy,
including our ability to successfully consummate and integrate any
acquisitions; (5) changes in our goals and strategies, which are
subject to change at any time at our discretion; (6) various
economic factors such as recessions, downturns in the economy,
global uncertainty and instability, changes in U.S. social,
political, and regulatory conditions and/or a disruption of
financial markets may decrease demand for our services; (7)
increases in driver compensation or difficulties attracting and
retaining qualified drivers to meet freight demand; (8) our
exposure to claims related to cargo loss and damage, property
damage, personal injury, workers' compensation, group health and
group dental, including increased premiums, adverse loss
development, increased self-insured retention levels and claims in
excess of insured coverage levels; (9) cost increases associated
with employee benefits, including costs associated with employee
healthcare plans; (10) the availability and cost of capital for our
significant ongoing cash requirements; (11) the availability and
cost of new equipment and replacement parts, including regulatory
changes and supply constraints that could impact the cost of these
assets; (12) decreases in demand for, and the value of, used
equipment; (13) the availability and cost of diesel fuel; (14) the
costs and potential liabilities related to compliance with, or
violations of, existing or future governmental laws and
regulations, including environmental laws, engine emissions
standards, hours-of-service for our drivers, driver fitness
requirements and new safety standards for drivers and equipment;
(15) the costs and potential liabilities related to various legal
proceedings and claims that have arisen in the ordinary course of
our business, some of which include class-action allegations; (16)
the costs and potential liabilities related to governmental
proceedings or inquiries; (17) the costs and potential liabilities
related to our international business operations and relationships;
(18) the costs and potential adverse impact of compliance with, or
violations of, current and future rules issued by the Department of
Transportation, the Federal Motor Carrier Safety Administration,
including its Compliance, Safety, Accountability initiative, and
other regulatory agencies; (19) seasonal trends in the
less-than-truckload industry, including harsh weather conditions
and disasters; (20) our dependence on key employees; (21) the
concentration of our stock ownership with the Congdon family; (22)
the costs and potential adverse impact associated with future
changes in accounting standards or practices; (23) potential costs
associated with cyber incidents and other risks, including system
failure, security breach, disruption by malware or other damage;
(24) failure to keep pace with developments in technology, any
disruption to our technology infrastructure, or failures of
essential services upon which our technology platforms rely could
cause us to incur costs or result in a loss of business; (25)
damage to our reputation through unfavorable publicity; (26) the
costs and potential adverse impact of compliance with
anti-terrorism measures on our business; (27) dilution to existing
shareholders caused by any issuance of additional equity; (28) the
impact of a quarterly cash dividend and/or the failure to declare
future cash dividends; (29) fluctuations in the market value of our
common stock; (30) the impact of certain provisions in our articles
of incorporation, bylaws, and Virginia law that could discourage,
delay or prevent a change in control of us or a change in our
management; and (31) other risks and uncertainties described in our
most recent Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. Our forward-looking statements
are based upon our beliefs and assumptions using information
available at the time the statements are made. We caution the
reader not to place undue reliance on our forward-looking
statements (i) as these statements are neither a prediction nor a
guarantee of future events or circumstances, and (ii) the
assumptions, beliefs, expectations and projections about future
events may differ materially from actual results. We undertake no
obligation to publicly update any forward-looking statement to
reflect developments occurring after the statement is made, except
as otherwise required by law.
Old Dominion Freight Line, Inc. is a leading,
less-than-truckload (“LTL”), union-free motor carrier providing
regional, inter-regional and national LTL services, which include
ground and air expedited transportation and consumer household
pickup and delivery through a single integrated organization. In
addition to its core LTL services, the Company offers a range of
value-added services including container drayage, truckload
brokerage, supply chain consulting and warehousing.
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version on businesswire.com: http://www.businesswire.com/news/home/20170302006225/en/
Old Dominion Freight Line, Inc.Adam N. Satterfield,
336-822-5721Senior Vice President, Finance andChief Financial
Officer
Old Dominion Freight Line (NASDAQ:ODFL)
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