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Old Dominion Freight Line's August performance rebounded after Yellow Corp's shutdown, with revenue resilience and growth.
August brought some interesting twists and turns for Old Dominion Freight Line, thanks to major competitor Yellow's shutdown.
Here's a quick breakdown:
August vs. July
Tonnage Impact: Tonnage dipped by 6% in August, following an 11.1% decline in July. These figures marked an improvement from the second quarter's 14.1% decline.
Competitor's Shutdown
One of Old Dominion's biggest competitors, Yellow Corp, ceased operations in July, indirectly boosting Old Dominion's August shipments by 6%.
Market Conditions
Yield Growth
Impact Expectations
Analyst Projections
Capacity
In July, Old Dominion reported having roughly 30% excess capacity, 5 percentage points higher than normal.
Despite the industry's challenges, Old Dominion Freight Line navigated the rough seas in August with resistance and growth prospects. Â
Source: FreightWaves
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