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 announced a two-year partnership with the USO, starting January 1, 2022, to support active-duty service members and their families. The partnership includes annual contributions and participation in the USO Pathfinder® Transition Program, focusing on employment and resources for transitioning service members. CEO Greg Gantt emphasized the importance of supporting military families, while USO CEO J.D. Crouch II stated the collaboration aims to strengthen connections and provide career opportunities. The USO has created over 50,000 personalized action plans since 2015 to aid service members.
Old Dominion Freight Line (Nasdaq: ODFL) announced record financial results for Q3 2021, with total revenue reaching $1.4 billion, a 32.3% increase year-over-year. Operating income rose 41.9% to $383.4 million, pushing the operating ratio down to 72.6%, a company record. Net income increased 42.0% to $286.6 million, translating to diluted earnings per share of $2.47. The company’s strong performance is attributed to increased demand for LTL services, with LTL revenue per hundredweight rising 15.7%.
Old Dominion Freight Line declared a quarterly cash dividend of $0.20 per share, marking a 33.3% increase from December 2020. The dividend will be payable on December 15, 2021, to shareholders of record by the close of business on December 1, 2021.
This announcement reflects the company's strong financial health and commitment to returning value to shareholders amidst ongoing challenges in the logistics sector.
Old Dominion Freight Line (NASDAQ: ODFL) will release its Q3 2021 financial results on October 27, 2021, before the market opens. A conference call to discuss these results will take place at 10:00 a.m. ET on the same day. Interested parties can access a live webcast of the call at www.odfl.com. An online replay will be available starting at 1:00 p.m. ET for 30 days. A telephonic replay will also be available until November 3, 2021.
Old Dominion Freight Line (NASDAQ: ODFL) reported strong performance metrics for August 2021. Revenue per day rose by 29.1% compared to August 2020, driven by a 10.9% increase in LTL tons per day. Additionally, LTL revenue per hundredweight grew by 15.5% year-over-year. However, the rise in daily volumes was tempered by challenges from COVID-19 and supply chain issues. The company plans to invest in safety initiatives for employees and expand its service capacity to support anticipated growth.
Old Dominion Freight Line (Nasdaq: ODFL) has expanded its service center network, opening six new and upgraded facilities since February 2021. The company now boasts 248 service centers, a 50% increase over the past decade, with $1.7 billion invested. Key facilities include a 20-door center in Benicia, a 55-door facility in Phoenixville, and a 103-door center in Kenosha, strategically placed to meet growing demand. Additional expansions in Colorado Springs, Milford, and Warren enhance operational capacity. Investments aim to address capacity challenges as the economy rebounds post-COVID-19.
Old Dominion Freight Line reported strong financial results for Q2 2021, achieving record revenue of $1.32 billion, a 47.2% increase from Q2 2020. Operating income grew by 83.8% to $366 million, resulting in a net income of $270 million and diluted earnings per share of $2.31, up 84.8%. The company improved its operating ratio to 72.3% from 77.8%. Old Dominion anticipates capital expenditures of approximately $605 million for 2021 and announced a new $2 billion share repurchase program to bolster shareholder returns.
Old Dominion Freight Line, Inc. (Nasdaq: ODFL) has declared a quarterly cash dividend of $0.20 per share, payable on September 15, 2021, with a record date of September 1, 2021. This reflects a substantial 33.3% increase from the prior year’s dividend. The company, a leading North American less-than-truckload (LTL) carrier, continues to navigate challenges linked to the COVID-19 pandemic, economic fluctuations, and operational demands while maintaining a focus on growth and customer satisfaction.
Old Dominion Freight Line (Nasdaq: ODFL) will release its Q2 2021 financial results before trading on July 28, 2021. A conference call discussing these results and the company's outlook will be held at 10:00 a.m. ET on the same day. The call will be available via a live webcast on www.odfl.com, with a replay accessible starting at 1:00 p.m. ET for 30 days. Old Dominion is a leading less-than-truckload (LTL) carrier in North America, offering a range of regional and national services.
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