Old Dominion Freight Line, Inc. Announces General Rate Increase
December 16 2021 - 7:00AM
Business Wire
Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced a
general rate increase (GRI) of 4.9 percent applicable to rates
established under the existing ODFL 559, 670, and 550 tariffs,
effective January 3, 2022.
Todd A. Polen, Old Dominion’s Vice President – Pricing Services,
commented, “At Old Dominion, we are committed to delivering our
premium value proposition of on-time, claims-free service at a fair
price. To satisfy our customers’ expectations and deliver on the
promises we have made, we must continue to enhance our high-quality
service network and systems. This GRI will affect our class tariffs
and is intended to partially offset the rising costs of real
estate, new equipment, technology investments, and competitive
employee wage and benefit packages. Although the GRI will impact
each customer differently based on specific shipment lanes and
distance traveled, it is consistent with our long-term yield
management philosophy and the overall impact of the increase is
anticipated to be approximately 4.9 percent. The GRI also provides
for a nominal increase in minimum charges with respect to
intrastate, interstate and cross border lanes.”
For more information about Old Dominion, visit www.odfl.com or
call (800) 432-6335.
About Old Dominion Freight Line, Inc.
Old Dominion Freight Line, Inc. is one of the largest North
American less-than-truckload (“LTL”) motor carriers and provides
regional, inter-regional and national LTL services through a single
integrated, union-free organization. Our service offerings, which
include expedited transportation, are provided through an expansive
network of service centers located throughout the continental
United States. The Company also maintains strategic alliances with
other carriers to provide LTL services throughout North America. In
addition to its core LTL services, the Company offers a range of
value-added services including container drayage, truckload
brokerage and supply chain consulting.
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Todd A. Polen VP – Pricing Services (336) 822-5160
Old Dominion Freight Line (NASDAQ:ODFL)
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