Old Dominion Freight Line (ODFL) investor relations material

Executive summary

• Achieved a 10.4% year-over-year revenue increase in Q2 2026, reaching $1.55 billion, with a 450 basis point improvement in operating ratio driven by improved demand and disciplined yield management.

• Operating income rose 30.0% to $465.3 million, and net income increased 30.5% to $350.6 million compared to Q2 2025.

• EPS rose 32.3% year-over-year to $1.68, matching the company record set in Q3 2022.

• Maintained 99% on-time service and a 0.1% claims ratio, with about 1,000 lane adjustments improving transit times.

• Continued investment in network, technology, and workforce to support long-term growth and service excellence.

Financial highlights

• Operating ratio improved to 70.1%, a 450 basis point gain from Q2 2025.

• LTL revenue per hundredweight rose 15.2% year-over-year; excluding fuel surcharges, up 5.5%.

• LTL tons per day decreased 4.1%, with shipments per day down 5.7% and weight per shipment up 1.7%.

• Cash flow from operations was $272.7 million for Q2 and $646.3 million for the first half of 2026.

• Cash and cash equivalents stood at $283.9 million as of June 30, 2026.

Outlook and guidance

• July revenue per day is up 7.5%-8% year-over-year, with LTL revenue per hundredweight growth tracking below Q2's 5.5%.

• Anticipates Q3 LTL revenue per hundredweight growth of 4%-4.5%.

• Expects Q3 revenue growth of 10%, targeting $1.54-$1.55 billion for the quarter.

• Operating ratio for Q3 expected to increase 150-200 basis points from Q2's 70.1% after normalizing for property gains.

• Capital expenditures for 2026 expected to total $380 million, including $180 million for real estate/service center expansion, $155 million for tractors/trailers, and $45 million for IT and other assets.