Old Dominion Freight Line Inc Stock Price, News & Analysis

Old Dominion Freight Line driver Glen Kirk has been appointed as one of the 2022-2023 America’s Road Team Captains by the American Trucking Associations (ATA). His role involves promoting safe driving practices nationwide, addressing the industry's urgent need for drivers. Kirk boasts nearly 1.6 million safe driving miles and has previously excelled in national competitions. This recognition underscores the importance of safety in trucking as Kirk continues to represent Old Dominion and foster the next generation of drivers.

Old Dominion Freight Line (NASDAQ: ODFL) will release its fourth quarter and year-end 2021 financial results on February 2, 2022, before market opening. A conference call to discuss these results and the company's outlook will take place at 10:00 a.m. (ET) the same day. Investors can access a live webcast at www.odfl.com, with a replay available after 1:00 p.m. (ET) for 30 days. Old Dominion is a leading less-than-truckload (LTL) carrier in North America, offering a range of logistics services.

Old Dominion Freight Line (ODFL) announced a 4.9% general rate increase effective January 3, 2022. This increase will impact rates established under existing tariffs 559, 670, and 550. According to Todd A. Polen, Vice President of Pricing Services, the GRI is designed to offset rising costs including real estate, equipment, technology investments, and employee wages. The increase will affect customers based on specific lanes and distances but is in alignment with the company's long-term yield management strategy.

Old Dominion Freight Line (ODFL) reported significant growth in LTL metrics for November 2021. Revenue per day rose by 29.9% compared to November 2020, driven by an 11.5% increase in LTL tons per day. The increase in tons was supported by a 15.2% rise in shipments, despite a 3.2% drop in weight per shipment. Quarter-to-date, LTL revenue per hundredweight increased 16.6% while excluding fuel surcharges rose 9.4%. The company's CEO expressed confidence in continued market share growth and strong customer demand moving into 2022.

Old Dominion Freight Line announced a two-year partnership with the USO, starting January 1, 2022, to support active-duty service members and their families. The partnership includes annual contributions and participation in the USO Pathfinder® Transition Program, focusing on employment and resources for transitioning service members. CEO Greg Gantt emphasized the importance of supporting military families, while USO CEO J.D. Crouch II stated the collaboration aims to strengthen connections and provide career opportunities. The USO has created over 50,000 personalized action plans since 2015 to aid service members.

Old Dominion Freight Line (Nasdaq: ODFL) announced record financial results for Q3 2021, with total revenue reaching $1.4 billion, a 32.3% increase year-over-year. Operating income rose 41.9% to $383.4 million, pushing the operating ratio down to 72.6%, a company record. Net income increased 42.0% to $286.6 million, translating to diluted earnings per share of $2.47. The company’s strong performance is attributed to increased demand for LTL services, with LTL revenue per hundredweight rising 15.7%.

Old Dominion Freight Line declared a quarterly cash dividend of $0.20 per share, marking a 33.3% increase from December 2020. The dividend will be payable on December 15, 2021, to shareholders of record by the close of business on December 1, 2021.

This announcement reflects the company's strong financial health and commitment to returning value to shareholders amidst ongoing challenges in the logistics sector.