Old Dominion Freight Line Inc

Latest Results (17.12.2024):

Revenue Decline

Old Dominion Freight Line Inc. reported a 3.0% decrease in total revenue for the third quarter of 2024, amounting to $1,470,211,000 compared to $1,515,277,000 in the same quarter of 2023. This decline was primarily attributed to a decrease in LTL tons per day, despite a slight increase in LTL revenue per hundredweight.

Operating Income and Ratio

The company's operating income for the third quarter of 2024 was $401,861,000, reflecting a 9.7% decrease from the previous year's $445,019,000. The operating ratio increased by 210 basis points to 72.7%, indicating higher operating expenses relative to revenue.

Net Income and Earnings Per Share

Old Dominion Freight Line Inc. reported a net income of $308,580,000 for the third quarter of 2024, a 9.1% decrease from $339,287,000 in the same period of 2023. Earnings per diluted share also decreased by 7.1% to $1.43, down from $1.54 in the third quarter of the previous year.

Cash Flow and Capital Expenditures

The company generated $446.5 million in net cash from operating activities during the third quarter of 2024. Capital expenditures for the quarter totaled $242.8 million, with expectations for total capital expenditures in 2024 to reach approximately $750 million, including investments in real estate, equipment, and technology.

Shareholder Returns

Old Dominion Freight Line Inc. continued to return capital to shareholders in the third quarter of 2024, utilizing $824.8 million for its share repurchase program and paying $168.2 million in cash dividends during the first nine months of the year. The company remains committed to enhancing shareholder value through these initiatives.