Welcome to our dedicated page for Old Dominion Freight Line news (Ticker: ODFL), a resource for investors and traders seeking the latest updates and insights on Old Dominion Freight Line stock.
Old Dominion Freight Line (ODFL) delivers premium less-than-truckload (LTL) transportation and logistics solutions through its union-free network across North America. This news hub provides investors and industry professionals with essential updates about the company's operational developments, strategic initiatives, and market position.
Access centralized information on ODFL's financial announcements, service expansions, and infrastructure investments. The resource aggregates official press releases covering earnings disclosures, leadership changes, technology implementations, and partnership agreements within the freight transportation sector.
Key content categories include quarterly financial results, capacity expansion updates, operational efficiency metrics, and industry recognition announcements. Users will find verified information about ODFL's LTL service enhancements, supply chain management innovations, and network optimization strategies.
Bookmark this page for streamlined access to Old Dominion's latest developments. Check regularly for updates on how the company maintains its position as a leader in precision freight services through disciplined operations and customer-focused solutions.
Old Dominion Freight Line reported a 3.7% decline in total revenue to $1.44 billion for Q1 2023, compared to $1.5 billion in Q1 2022. LTL services revenue decreased by 3.5% to $1.42 billion. Operating income fell 5.6% to $383 million, with an operating ratio of 73.4%, a slight increase from 72.9% in the previous year. Net income also declined 4.9% to $285 million, resulting in diluted EPS of $2.58, a 0.8% decrease from the prior year. The firm acknowledged a challenging economic environment, with LTL tonnage dropping 11.9% per day, though revenue per hundredweight improved 9.2%. Cash flow from operations was $415.4 million, and capital expenditures are projected at $700 million for 2023.
Old Dominion Freight Line (Nasdaq: ODFL) will release its Q1 2023 financial results on April 26, 2023, before market opening. A conference call is scheduled for 10:00 a.m. ET on the same day to discuss the results and outlook. Investors can access a live online webcast at www.odfl.com. A replay of the call will be available from 1:00 p.m. ET onwards for 30 days online and via telephonic access until May 3, 2023, at 1-877-344-7529, access code 6525435. Old Dominion is a leading North American less-than-truckload (LTL) carrier, providing extensive logistics services across the U.S. and North America.
Old Dominion Freight Line (Nasdaq: ODFL) reported LTL metrics for February 2023, revealing a 2.9% decline in revenue per day compared to February 2022, driven by a 12.4% drop in LTL tons per day. This decline was partially mitigated by a rise in LTL revenue per hundredweight. Year-to-date, LTL revenue per hundredweight increased by 12.1%, while excluding fuel surcharges, it rose by 8.6%. CEO Greg C. Gantt noted the domestic economy's challenges but expressed optimism about stabilized shipments and improved yields. The company emphasizes its commitment to superior service and long-term shareholder value.
Old Dominion Freight Line announced key leadership changes effective July 1, 2023.
Gregory B. Plemmons, formerly Senior Vice President - Sales, will take over as Executive Vice President and Chief Operating Officer, succeeding Kevin M. Freeman. Meanwhile, Steven W. Hartsell, Vice President - Field Sales, will step into Plemmons' previous role as Senior Vice President - Sales.
The changes aim to enhance operational efficiency and maintain superior customer service, aligning with the company's long-term strategic goals.
FAQ
What is the current stock price of Old Dominion Freight Line (ODFL)?
What is the market cap of Old Dominion Freight Line (ODFL)?
