OLD DOMINION FREIGHT LINE, INC. ANNOUNCES GENERAL RATE INCREASE
February 17 2020 - 12:00PM
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 March 2, 2020.
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 a leading,
less-than-truckload ("LTL"), union-free motor carrier providing
regional, inter-regional and national LTL services through a single
integrated organization. Our service offerings, which include
expedited transportation, are provided through an expansive network
of service centers located throughout the continental United
States. Through strategic alliances, the Company also provides 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.
Todd A. Polen
Old Dominion Freight Line
(336) 822-5160
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