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Macro environment continues to weigh on public LTL carriers' numbers
['Geert De Lombaerde']
Home | FleetOwner
A sluggish economy, particularly in the key manufacturing and housing sectors, has resulted in several publicly traded less-than-truckload carriers reporting negative numbers for the first two months of the third quarter.
Old Dominion Freight Line, XPO, and Saia—the Nos.
Of the three companies, Old Dominion stood out on the downside with a tons-per-day drop of more than 9%, while the team at Saia limited the year-over-year drop to 2.2%.
The companies’ shipments per day showed a similar trend, but Marty Freeman, Old Dominion president and CEO, pointed to better pricing as an encouraging sign.
24 carrier on the FleetOwner 500 rose 5% in August and are up 4% quarter to date, while tons per day were up 2% for both time periods.
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