• Tue. Jul 23rd, 2024

Old Dominion Freight Line’s Q2 Performance Exceeds Street Expectations

ByAkanksha Bakshi

Jul 27, 2022
Old Dominion Freight Line's Q2 Performance Exceeds Street Expectations


  • Old Dominion Freight Line Inc ODFL reported second-quarter revenue growth of 26.4% year-over-year to $1.67 billion, beating the consensus of $1.64 billion.
  • EPS improved by 42.9% Y/Y to $3.30, beating the consensus of $3.14.
  • Revenue growth reflects a 22.6% increase in LTL revenue per hundredweight and a 2.8% increase in LTL tons per day.
  • The operating income increased by 38.9% Y/Y to $508.71 million, and the margin expanded by 276 bps to 30.5%.
  • The operating ratio for the quarter was 69.5%, compared to 72.3% a year ago.
  • Old Dominion’s net cash provided by operating activities was $427.3 million for the quarter and $816.1 million for the year’s first half.
  • The company had $420.5 million in cash and cash equivalents as of June 30, 2022.
  • The company’s cash utilized for shareholder return programs during 1H included $731.9 million in share repurchases and $68.0 million of cash dividends.
  • Price Action: ODFL shares traded lower by 2.13% at $267.28 on the last check Wednesday.


Image and article originally from www.benzinga.com. Read the original article here.