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Old Dominion
🇺🇸 NASDAQ:ODFL
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OverviewEarningsDividends
•
Mar 31, 2021

Old Dominion Q1 2021 Earnings Report

Old Dominion reported strong profitable growth with double-digit increases in revenue and operating income for Q1 2021.

Key Takeaways

Old Dominion Freight Line reported a 14.1% increase in revenue, driven by an 8.3% increase in LTL tons and a 5.6% increase in LTL revenue per hundredweight. The operating ratio improved to a company record of 76.1%.

Revenue increased by 14.1% due to an increase in LTL tons and LTL revenue per hundredweight.

Operating ratio improved by 530 basis points to 76.1%.

The company added a significant number of new employees during the quarter.

The company believes the domestic economy is getting stronger while industry capacity is generally limited.

Total Revenue
$1.13B
Previous year: $987M
+14.1%
EPS
$0.85
Previous year: $0.56
+51.8%
LTL Revenue Per CWT
$24
Previous year: $22.7
+5.6%
LTL Shipments
2.9M
LTL Tons
2.33M
Previous year: 2.15M
+8.3%
Gross Profit
$358M
Previous year: $269M
+33.1%
Cash and Equivalents
$352M
Previous year: $357M
-1.4%
Total Assets
$4.35B
Previous year: $3.93B
+10.6%

Old Dominion

Old Dominion

Old Dominion Revenue by Segment

Forward Guidance

Old Dominion expects to continue investing in long-term capacity and expanding its workforce to support additional growth.

Positive Outlook

  • The company intends to continue to increase its workforce in the second quarter to support the ongoing acceleration in volumes.
  • The company remains firmly committed to its strategy of delivering superior service at a fair price.
  • The company will continue to invest in long-term capacity to support additional growth.
  • The company's team's efforts have created a unique position for them within the LTL industry.
  • The company is confident that the continued execution of their strategic plan can produce additional growth in earnings and increase shareholder value.

Challenges Ahead

  • Challenges associated with executing the company's growth strategy.
  • Risks related to public health epidemics and pandemics.
  • Changes in relationships with significant customers.
  • Exposure to claims related to cargo loss and damage, property damage, personal injury, workers’ compensation and healthcare.
  • The availability and cost of new equipment, including regulatory changes and supply constraints that could impact the cost of these assets.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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