LTL tonnage

The total weight of freight transported by a Less-Than-Truckload (LTL) carrier, used to measure volume and demand.

LTL tonnage represents the total physical weight of freight transported by a Less-Than-Truckload (LTL) carrier over a specific period. Unlike truckload carriers that dedicate an entire trailer to a single customer, LTL carriers consolidate multiple smaller shipments from various customers into a single trailer. Because of this hub-and-spoke operational model, tracking the total weight moved is a fundamental measure of physical volume and capacity utilization. To calculate LTL tonnage, carriers aggregate the weight of all individual shipments handled, typically measured in tons or hundredweight (cwt). This metric is frequently reported as "tonnage per day" to account for variations in the number of operating days between reporting periods, allowing for accurate year-over-year or sequential comparisons. Investors analyze LTL tonnage alongside pricing metrics, such as yield (revenue per hundredweight), to evaluate a carrier's operational health and market demand. Rising tonnage combined with stable or rising yields indicates strong organic demand and pricing power. Conversely, if tonnage is declining while revenue rises, it signals that growth is driven entirely by price increases or fuel surcharges rather than volume expansion, which may not be sustainable over the long term.

A logistics company transported 900,000 tons of freight over a quarter with 64 operating days. Its daily volume is calculated as: 900,000 tons / 64 days = 14,062.5 LTL tons per day.