Q: Any explanation for a couple of down days? Any issues that you see?
5i Research Answer:
Most Less-Than-Truckload (LTL) carriers’ share prices are under pressure recently as one of the largest US service providers ODFL just published its November operating numbers, which indicates a weak freight environment. ODFL reported a dip in tons per day, a 2.3% decline year-over-year, marking two consecutive down months. Management commented the softness in shipment was due to weak domestic economy. TFII is not immune here but we expect improvements in 2024 as rate pressures ease.