Old Dominion Freight Line Inc Stock Price, News & Analysis

Old Dominion Freight Line (Nasdaq: ODFL) reported a 9.2% increase in revenue per day for February 2021, driven by a 5.9% rise in LTL tons daily. The growth was influenced by a 4.1% rise in LTL weight per shipment and a 1.8% increase in shipments. For the quarter-to-date, LTL revenue per hundredweight rose 2.7%. Despite severe winter weather impacting operations, revenue growth remained consistent outside of February's third week. The company aims to expand its service center network and workforce to capture additional market share and drive long-term shareholder value.

Old Dominion Freight Line (Nasdaq: ODFL) announced a 4.9% general rate increase (GRI) effective March 1, 2021. This increase applies to current tariffs to offset rising operational costs such as real estate, equipment, technology, and employee compensation. Todd A. Polen, Vice President of Pricing Services, emphasized the company's commitment to delivering premium service while enhancing their network. The GRI will affect customers based on shipment specifics and is aligned with the company's long-term yield management strategy, anticipating a collective impact of about 4.9%.

Old Dominion Freight Line (Nasdaq: ODFL) expands its network with the addition of nine new and renovated service centers, increasing its total to 245 across the U.S. These centers are strategically located to enhance operational efficiency and support growing demand for less-than-truckload services amid the COVID-19 pandemic. Key locations include Brooklyn, NY, Edinburgh, IN, and Grand Island, NE, among others. Each facility aims to improve shipping times and delivery flexibility, providing better service to customers while creating new jobs in each market.

Old Dominion Freight Line (Nasdaq: ODFL) reported its financial results for Q4 and the full year 2020, including a $9.6 million expense for special employee bonuses in December to recognize their efforts during the COVID-19 pandemic. The company adjusted prior-period share data following a March 2020 stock split. Total revenue and other key metrics were not detailed in the provided text, suggesting a more comprehensive report may be available elsewhere.

Old Dominion Freight Line (Nasdaq: ODFL) will release its fourth quarter and year-end 2020 financial results before trading opens on February 4, 2021. A conference call to discuss the financial results and outlook will occur at 10:00 a.m. ET on the same day. Investors can access a real-time online webcast of the call at www.odfl.com, with a replay available starting at 1:00 p.m. ET for 30 days. The company provides less-than-truckload services with a network across the U.S. and strategic alliances in North America.

Old Dominion Freight Line (Nasdaq: ODFL) reported a 6.3% increase in revenue per day for November 2020 compared to the previous year, driven by a 5.2% rise in LTL tons per day. The increase came from a 2.6% boost in LTL weight per shipment and a 2.5% rise in LTL shipments. For the quarter-to-date, LTL revenue per hundredweight saw a 0.5% increase, while revenue excluding fuel surcharges rose by 3.8%. CEO Greg C. Gantt attributed this growth to heightened demand and economic recovery, despite ongoing pandemic-related risks.

Old Dominion Freight Line (Nasdaq: ODFL) reported Q3 2020 financial results with total revenue of $1.06 billion, up 0.9% from Q3 2019, and a net income of $201.9 million, a 23% increase. The company achieved a record operating ratio of 74.5%. LTL revenue per hundredweight declined by 0.6%, but tonnage per day grew by 1.3% year-over-year. Cash flow from operations reached $170.2 million. Old Dominion expects capital expenditures of approximately $240 million for 2020, focusing on real estate and service center expansions.

Old Dominion Freight Line announced a quarterly cash dividend of $0.15 per share, payable on December 16, 2020, to shareholders of record by the close of business on December 2, 2020. This dividend reflects a 32.4% increase compared to the previous year after accounting for a three-for-two stock split in March 2020. The company operates as a leading union-free less-than-truckload motor carrier, providing services across the U.S. and North America through a vast network.

Old Dominion Freight Line (Nasdaq: ODFL) announced it will release its third quarter 2020 financial results before trading opens on October 27, 2020. A conference call will follow at 10:00 a.m. ET to discuss the results and outlook. The call will be available via a webcast, with a replay accessible after 1:00 p.m. ET for 30 days, and a telephonic replay available until November 4, 2020. Old Dominion provides less-than-truckload services and has a wide network across the United States.