Old Dominion Freight Line Inc Stock Price, News & Analysis

Old Dominion Freight Line reported strong Q2 2022 results with total revenue reaching $1.67 billion, a 26.4% increase year-over-year. LTL services revenue grew by 26.5% to $1.64 billion. Operating income surged 39% to $508.7 million, leading to a historic operating ratio of 69.5%. Net income improved by 39.5% to $376.1 million, resulting in diluted EPS of $3.30, up 42.9%. The company also generated $427.3 million in cash from operations, continuing to invest heavily in capital expenditures and shareholder returns.

Old Dominion Freight Line, Inc. (ODFL) has declared a quarterly cash dividend of $0.30 per share, reflecting a 50% increase compared to September 2021. The dividend is payable on September 21, 2022, to shareholders of record by September 7, 2022. This positive step highlights the company's financial strength and commitment to returning value to shareholders. The release contains forward-looking statements that involve various risks, including economic uncertainties and operational challenges.

Old Dominion Freight Line plans to release its second quarter 2022 financial results on July 27, 2022, before the market opens. A conference call to discuss these results and the company's outlook will take place at 10:00 a.m. (Eastern Time) on the same day. Investors can access a live webcast on the company's website, with a replay available after 1:00 p.m. (Eastern Time) for 30 days. Old Dominion is a leading North American LTL carrier offering a range of services through an extensive network across the U.S. and strategic alliances throughout North America.

Old Dominion Freight Line (ODFL) reported impressive growth metrics for May 2022. The company experienced a 26.0% increase in revenue per day compared to May 2021, driven by a 2.3% rise in LTL tons per day and enhanced revenue per hundredweight. LTL shipments saw a 2.8% increase, although the average weight per shipment declined by 0.6%. For the quarter to date, LTL revenue per hundredweight rose 22.4%, while excluding fuel surcharges, it increased 9.6%. CEO Greg Gantt emphasized continued strong customer demand and long-term growth strategies.

Old Dominion Freight Line declared a quarterly cash dividend of $0.30 per share, payable on June 15, 2022, to shareholders on record as of June 1, 2022. This dividend marks a 50% increase compared to the same period in 2021. The company's strong financial position supports this increase, reflecting confidence in its growth strategy. Old Dominion provides national less-than-truckload services through an extensive network and strategic alliances, positioning itself as a leader in the freight delivery sector.

Old Dominion Freight Line, Inc. (ODFL) reported strong Q1 2022 results, achieving record revenues of $1.497 billion, a 32.9% increase year-over-year. The operating income surged 50.4% to $405.6 million, and net income also rose 50.4% to $299.8 million, resulting in a diluted EPS of $2.60, up 52.9%. The operating ratio improved significantly to 72.9%, driven by increased LTL revenue and volume. Cash flow from operations stood at $388.7 million, supporting ongoing capital expenditures and shareholder returns.

Old Dominion Freight Line (NASDAQ: ODFL) will report its first quarter 2022 financial results on April 27, 2022, before market opening. A conference call to discuss the results and future outlook is scheduled for 10:00 a.m. (ET) the same day. The call will be accessible online via a webcast at www.odfl.com and available for replay starting 1:00 p.m. (ET). The telephonic replay can be accessed through May 4, 2022, at 1-877-344-7529, access code 8164823. Old Dominion is a leading North American LTL carrier.

Old Dominion Freight Line (NASDAQ: ODFL) has expanded its service center network to 253 locations across the U.S. with new and improved facilities launched in seven cities during late 2021 and early 2022. These include sites in Texas, Mississippi, Iowa, North Carolina, Washington, South Carolina, and Massachusetts. This expansion aims to enhance operational efficiency, support economic growth in local communities, and meet increasing customer demand. Technological upgrades and additional staffing have also been implemented to improve service delivery.