Old Dominion Q2 2020 Earnings Report
Key Takeaways
Old Dominion Freight Line reported a decrease in revenue and earnings per share for Q2 2020 due to the impact of the COVID-19 pandemic on the domestic economy. However, the company improved its operating ratio and maintained industry-leading service metrics.
Q2 2020 earnings per diluted share were $1.25.
The operating ratio improved to 77.8%.
LTL tons per day decreased by 12.1%.
A new company-record quarterly cargo claims ratio of 0.1% was established.
Old Dominion
Old Dominion
Old Dominion Revenue by Segment
Forward Guidance
The company remains committed to ensuring the safety and well-being of its employees and providing customers with superior service. They are encouraged by recent trends and will continue to invest in capacity to support customers' needs.
Positive Outlook
- Committed to safety and well-being of employees
- Dedicated to providing customers with superior service at a fair price
- Value proposition differentiates from competition
- Critical to ability to win market share
- Encouraged by recent trends and will continue to invest in the necessary elements of capacity to support customers’ needs
Challenges Ahead
- Competitive environment with respect to industry capacity and pricing
- Ability to collect fuel surcharges and the effectiveness of those fuel surcharges in mitigating the impact of fluctuating prices for diesel fuel and other petroleum-based products
- Negative impact of any unionization, or the passage of legislation or regulations that could facilitate unionization, of our employees
- Challenges associated with executing our growth strategy, including our ability to successfully consummate and integrate any acquisitions
- Changes in our goals and strategies, which are subject to revision at any time at our discretion
Revenue & Expenses
Visualization of income flow from segment revenue to net income