Q3 2025 LTL BENCHMARKING UPDATE
Pricing Discipline Persists; Volumes Soft; Cost Pressure Nudges OR Higher
The LTL industry continues to navigate an environment of uncertainty, shaped by fluctuating market conditions, evolving freight dynamics, and operational cost pressures. This is in parallel with continued consolidation among carriers. In an effort to provide clarity amid these challenges, the NMFTA Benchmarking Group has been instrumental in helping carriers elevate their performance through data-driven insights and best practices.
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Last updated: November 13, 2025
Quick Q3 Facts at a Glance
- Private cohort (NMFTA sample, Q3 vs. Q2 2025): Shipments/day 108,409 (-5.2% QoQ), avg shipment weight 1,219.3 lb (-0.4%), density 14.14 pcf (2.8%), OR 85.0% (198 bps), revenue/CWT $24.05 (2.2%), revenue/shipment $293.84 (0.4%).
- Private cohort YTD (Q1–Q3 2025): Shipments/day 111,323, avg weight 1,226.7 lb, density 13.81 pcf, OR 84.3%, revenue/CWT $23.66, revenue/shipment $293.18.
- Public LTL (Q3 2025, dataset snapshot): simple avg OR 85.7%; shipments-weighted OR 84.1%.
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About KSM Transport Advisors
Katz, Sapper & Miller (KSM) is one of the largest independent CPA firms in the U.S., with over 600 employees. Founded more than 80 years ago, KSM provides advisory, tax, and audit services across various industries. Their mission is to inspire great people to achieve great things, focusing on client success through innovative, expert advice. Employee ownership, commitment to community service, and a focus on diversity are core to KSM’s values, contributing to its recognition as a top accounting firm. Learn more.