Welcome to our dedicated page for Old Dominion Freight Line news (Ticker: ODFL), a resource for investors and traders seeking the latest updates and insights on Old Dominion Freight Line stock.
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) is a leading, less-than-truckload (LTL) transportation company known for providing premium service to its customers across the United States. As a union-free company, Old Dominion offers a range of LTL services including regional, inter-regional, and national transportation. In addition to its core LTL offerings, Old Dominion provides a comprehensive suite of logistics services such as ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage, container delivery, and warehousing.
One of the distinctive services offered by Old Dominion is OD Household Services, designed specifically for household moving. Through strategic partnerships, the company also extends its reach to international markets by offering freight forwarding services globally.
Old Dominion is recognized for its industry-leading claims ratio and on-time delivery record, making it one of the most reliable carriers in the LTL sector. With over 80 years of experience in the industry, the company has established a reputation for helping the world keep its promises. The company's strategic initiatives focus on increasing network density through market share gains and maintaining top-tier service quality through consistent infrastructure investment.
As the second-largest LTL carrier in the United States, Old Dominion operates over 250 service centers and more than 11,000 tractors. Known for its disciplined and efficient operations, the company boasts profitability and capital returns that are among the best in the trucking industry. For those interested in career opportunities, Old Dominion offers a variety of positions, which can be explored at their careers page.
Keeping up with the latest news and developments at Old Dominion Freight Line is essential for stakeholders and potential investors. Regular updates and company news are readily available, offering insights into the company’s performance and strategic direction.
Old Dominion Freight Line (ODFL) has announced a 4.9% general rate increase (GRI) effective December 2, 2024. The increase will apply to rates under ODFL 559, 670, and 550 tariffs. The GRI aims to offset rising costs in real estate, equipment, technology investments, and employee compensation. The company states this adjustment aligns with their yield management philosophy and will affect customers differently based on shipping lanes and distances, including nominal increases in minimum charges for intrastate, interstate, and cross-border lanes.
Old Dominion Freight Line (ODFL) reported Q3 2024 financial results showing a decline in performance. Total revenue decreased 3.0% to $1.47 billion, with LTL services revenue down 2.9%. Operating income fell 9.7% to $401.9 million, while net income decreased 9.1% to $308.6 million. Diluted earnings per share dropped 7.1% to $1.43. The company maintained strong service metrics with 99% on-time service and a 0.1% cargo claims ratio. The decline was attributed to ongoing economic softness and challenging operating conditions. Capital expenditures were $242.8 million for Q3, with expected 2024 total of $750 million.
Old Dominion Freight Line (Nasdaq: ODFL) has announced a quarterly cash dividend of $0.26 per share of common stock. The dividend will be payable on December 18, 2024, to shareholders of record at the close of business on December 4, 2024. This dividend payment represents a 30% increase compared to the quarterly cash dividend paid in December 2023, after accounting for the company's March 2024 two-for-one stock split. The announcement demonstrates Old Dominion's commitment to returning value to shareholders and reflects confidence in the company's financial performance.
Old Dominion Freight Line (Nasdaq: ODFL) has announced plans to release its third quarter 2024 financial results before trading opens on Wednesday, October 23, 2024. The company will host a conference call to discuss these results and its outlook at 10:00 a.m. Eastern Time on the same day.
A live webcast of the conference call will be available at ir.odfl.com, with an online replay accessible from approximately 1:00 p.m. Eastern Time and continuing for 30 days. Additionally, a telephonic replay will be available until October 30, 2024, at 1-877-344-7529, access code 4016991.
Old Dominion Freight Line is a leading North American LTL motor carrier, offering regional, inter-regional, and national LTL services through an integrated, union-free organization. The company provides expedited transportation and maintains strategic alliances for LTL services across North America. Old Dominion also offers value-added services including container drayage, truckload brokerage, and supply chain consulting.
Old Dominion Freight Line (Nasdaq: ODFL) reported a 5.2% decrease in revenue per day for August 2024 compared to August 2023. This decline was due to a 6.1% decrease in LTL tons per day, partially offset by an increase in LTL revenue per hundredweight. The company experienced a 5.0% decrease in LTL shipments per day and a 1.1% decrease in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight increased by 3.0%, while LTL revenue per hundredweight excluding fuel surcharges rose by 4.9% year-over-year. Despite the softness in the domestic economy and lower fuel surcharge revenue, Old Dominion maintains its focus on delivering superior service and executing its long-term strategic plan to win profitable market share and increase shareholder value.
Old Dominion Freight Line (ODFL) reported strong financial results for Q2 2024, with earnings per diluted share increasing 11.3% to $1.48. The company's total revenue grew 6.1% to $1.5 billion, driven by a 4.4% increase in LTL revenue per hundredweight and a 1.9% rise in LTL tons per day. The operating ratio improved by 40 basis points to 71.9%, reflecting efficient operations and quality revenue growth.
ODFL's net cash from operating activities was $387.8 million for Q2 and $811.7 million for H1 2024. The company expects capital expenditures of $750 million for 2024, focusing on real estate expansion, fleet upgrades, and technology investments. ODFL continued to return value to shareholders through share repurchases and dividends, utilizing $637.1 million for repurchases and paying $112.6 million in dividends in H1 2024.
Old Dominion Freight Line (Nasdaq: ODFL) has announced a quarterly cash dividend of $0.26 per share of common stock. The dividend will be payable on September 18, 2024, to shareholders of record at the close of business on September 4, 2024. This dividend payment represents a 30% increase compared to the quarterly cash dividend paid in September 2023, after accounting for the company's March 2024 two-for-one stock split. The announcement demonstrates Old Dominion's commitment to returning value to shareholders and may indicate confidence in the company's financial performance.
Old Dominion Freight Line (Nasdaq: ODFL) has published its 2023 Environmental, Social, and Governance (ESG) Data Supplement. This report is informed by standards from the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI). The ESG Data Supplement is accessible on the Corporate Responsibility section of the company's investor website at ir.odfl.com.
Old Dominion Freight Line (Nasdaq: ODFL) will release its second quarter 2024 financial results before trading opens on Wednesday, July 24, 2024. The company will host a conference call at 10:00 a.m. (Eastern Time) on the same day to discuss these results and its outlook.
The real-time webcast of the conference call will be available on the company's investor relations website. An online replay will be accessible from 1:00 p.m. (Eastern Time) on July 24 and will be available for 30 days. Additionally, a telephonic replay will be available from 1:00 p.m. (Eastern Time) on July 24 until July 31, 2024, by dialing 1-877-344-7529 and using access code 9201305.
Old Dominion Freight Line is a major North American LTL motor carrier, offering regional, inter-regional, and national LTL services through a single, integrated, and union-free organization. The company also provides value-added services such as container drayage, truckload brokerage, and supply chain consulting.
Old Dominion Freight Line (Nasdaq: ODFL) reported a 5.6% increase in revenue per day for May 2024 compared to May 2023, driven by a 1.5% rise in LTL tons per day and increased LTL revenue per hundredweight. LTL shipments per day grew by 2.3%, despite a 0.7% decrease in LTL weight per shipment. For the quarter-to-date, LTL revenue per hundredweight, excluding fuel surcharges, rose by 4.7% year-on-year. President and CEO Marty Freeman attributed these gains to the company's cost-based pricing strategy and stability in the pricing environment, reinforcing their long-term strategic focus on delivering superior service and increasing shareholder value.
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