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Why Old Dominion Freight Line Shares Are Slumping Today

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares are trading lower following a first-quarter FY24 revenue miss. Revenue rose 1.2% Y/Y to $1.460 billion, missing the consensus of $1.473 billion. The increase in revenue is primarily due to a 4.1% rise in LTL revenue per hundredweight, which was partly offset by a 3.2% decrease in LTL tons per day.  LTL tons per day decline reflects a 2.7% Y/Y decrease in LTL weight per shipment and a 0.5% Y/Y decrease in ...