Old Dominion Freight Line Investor Relations Material

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.

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 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.

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.