Old Dominion reported a 3.3% year-over-year decline in February revenue per day driven by a 6.8% drop in LTL tons per day and a 7% fall in daily shipments, partly offset by a 0.2% rise in weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight increased 3.5%, or 4.1% excluding fuel surcharges, indicating firmer underlying yields.

President and CEO Marty Freeman said management remains cautiously optimistic on the domestic economy, citing the company’s best-in-class service and disciplined yield management. He noted sufficient capacity to handle incremental freight as demand recovers and emphasized a focus on driving profitable revenue growth over the long term.

Heightened geopolitical tensions have disrupted key oil corridors and fueled price volatility, creating an overhang for diesel costs. Although fuel surcharges pass through a portion of higher costs, sustained volatility can compress near-term margins, complicate contract negotiations and strain shippers' budgets.

Shares slid 6.8% after breaching the 20-day moving average, erasing gains from a rebound above $200. The move below this short-term trend line suggests potential further weakness in momentum despite a recent bullish crossover with the 50-day average.