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Company research20 Mar 2024
Companies That Had Their IPO in 1991: Recovery From a Recession
An overview of the markets and the IPO landscape as the economy recovered from the early 90s recession.
Old Dominion Freight Line
Old Dominion Freight Line (ODFL) investor relations material
Old Dominion Freight Line Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Q3 revenue rose 13.1% YoY to $1.591B; net income increased 26.9% to $343.7M and diluted EPS rose 28.9% to $1.65.
Yield discipline and operating execution improved the operating ratio 280 bps to 71.5%, despite slightly lower tonnage per day.
Service metrics remained strong at 99% on-time and a 0.1% cargo claims ratio.
Financial highlights
Q3 operating income rose 25.4% to $452.6M; nine-month operating income increased 16.9% to $1.235B.
Nine-month revenue grew 6.9% to $4.479B; net income rose 17.4% to $932.6M and diluted EPS increased 19.5% to $4.47.
Q3 LTL revenue per hundredweight increased 13.3%; excluding fuel surcharges, it rose 5.1%.
LTL services generated $1.577B of Q3 revenue; other services contributed $14.2M.
Outlook and guidance
Q4 revenue guidance is $1.54B-$1.58B, above normal seasonality; October revenue per day rose 22.5% YoY, with LTL tons per day up 2.1%.
Q4 operating ratio target is ~73.5% ±20 bps if revenue trends hold; guidance excludes the annual actuarial analysis effect.
October MTD LTL revenue per hundredweight rose ~20% including fuel and 5.5%-6% excluding fuel; earlier GRI timing versus 2025 contributed to the comparison.
Q4 effective tax rate is expected at 24.8%; fringe benefits and fuel-related input inflation remain headwinds, with incremental margins indicated at ~45%.
FY 2026 capital expenditures are estimated at $380M: $180M for service centers, $155M for tractors and trailers, and $45M for technology and other assets.
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Latest events from Old Dominion Freight Line
- Strong growth, operational excellence, and market share gains drive industry leadership.ODFL
Investor presentation - Q2 2026 saw 10.4% revenue growth, record EPS, and a 450 bps improvement in operating ratio.ODFLQ2 2026
- Industry leader with strong growth, top service, and expanding market share despite recent headwinds.ODFLInvestor presentation
- Q1 2026 revenue fell 2.9%, but yield, service, and cash flow metrics improved.ODFLQ1 2026
- Proxy covers director elections, executive pay, auditor ratification, and strong ESG focus.ODFLProxy filing
- Strong long-term growth and service quality drive market share gains despite 2025 headwinds.ODFLInvestor presentation
- Strong market position and service quality drive long-term growth despite recent revenue declines.ODFLInvestor presentation
- Revenue and earnings declined, but yield and service improved amid industry softness.ODFLQ4 2025
- Q4 revenue and earnings fell, but service, market share, and shareholder returns stayed strong.ODFLQ4 2024
Next Old Dominion Freight Line earnings date
Q4 20263 Feb, 2027
Old Dominion Freight Line
Next Old Dominion Freight Line earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Less Than Truckload
Old Dominion Freight Line is an American shipping company, specializing in providing less than truckload shipping (LTL). The company is one of the leaders in the sector and offers regional, inter-regional, and national LTL services. Its services also include logistics consulting, supply chain analysis, and container drayage, making it an important player in North American supply chains. Old Dominion is headquartered in Richmond, Virginia, and its shares are listed on the Nasdaq.
Founded by Husband and Wife
Old Dominion Freight Line, founded in 1934 by Earl and Lillian Congdon in Richmond, Virginia, started as a single-truck operation. Initially, it provided local hauling and transportation of merchandise for retailers. The company steadily grew through the mid-20th century, expanding its service area and fleet. In 1957, Old Dominion extended its operations to most of the state of Virginia and the adjacent portions of North Carolina, laying the groundwork for further expansion.
The company's growth accelerated in the 1970s and 1980s, driven by strategic acquisitions and an expansion of its service offerings. These moves transformed Old Dominion from a regional player into a significant national LTL freight carrier. Through consistent investment in technology, fleet upgrades, and service expansion, it has established a robust network covering the entire United States and international locations, becoming a key player in North American logistics and transportation. Today, Old Dominion competes against companies such as FedEx, XPO, and J.B. Hunt.
LTL Experts
LTL freight is a shipping method used for the transportation of relatively small freight or when freight doesn't require the use of an entire trailer. This method allows multiple shippers to share space on the same truck. Each shipper pays only for the portion of the trailer their goods occupy, while the rest of the space is filled with freight from other shippers. This makes LTL a cost-effective option for small businesses and individual shippers with smaller loads. LTL carriers consolidate freight from various shippers and plan logistics to efficiently route trucks. This process involves stopping at multiple locations to pick up and deliver shipments, making it a practical solution for the distribution of smaller, less time-sensitive shipments across longer distances.
Not Just LTL
Old Dominion Freight Line provides a variety of logistics and transportation services beyond its primary offering of Less-Than-Truckload shipping. The company also offers full truckload shipping services for larger freight requirements.
In addition to these transportation services, Old Dominion offers supply chain consulting, assisting businesses in streamlining and optimizing their logistics operations. The company also provides warehousing and distribution services, supporting its clients throughout the entire supply chain.