ODFL · 10-Q · 2026Q2 · Full report

End-Market Demand Trends

OLD DOMINION FREIGHT LINE, INC. · 2026-08-05 · Importance 43 · Surprise 32

Demand trends improved in the second quarter and first six months of 2026, although LTL tonnage per day declined 4.1% and 5.9%, respectively, as LTL shipments per day fell 5.7% and 6.8%. Higher LTL weight per shipment, up 1.7% in the quarter and 1.0% year to date, partially offset lower shipment counts and indicated a modestly heavier freight mix. In July 2026, revenue per day increased 8.2% year over year while LTL tons per day declined only 1.0%, reflecting a 3.0% decrease in shipments per day partially offset by a 2.0% increase in weight per shipment. More than 98% of revenue is derived from LTL shipments, with demand generally tied to industrial production and the health of the U.S. domestic economy.

Key facts

• LTL tons for the three months ended June 30, 2026: 2,035 (in thousands), a (4.1)% change versus prior year period. source
• LTL tons for the six months ended June 30, 2026: 3,962 (in thousands), a (5.9)% change versus prior year period. source
• LTL shipments for the three months ended June 30, 2026: 2,709 (in thousands), a (5.7)% change versus prior year period. source
• LTL shipments for the six months ended June 30, 2026: 5,295 (in thousands), a (6.8)% change versus prior year period. source
• LTL tons per day decreased 4.1% and 5.9% in the second quarter and first six months of 2026, respectively, as compared to the same periods of 2025. source
• LTL tons per day decreased 1.0% in July 2026 due to a 3.0% decrease in LTL shipments per day partially offset by a 2.0% increase in LTL weight per shipment. source