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Jun 30, 2020
Old Dominion Q2 2020 Earnings Report
Old Dominion's Q2 2020 earnings decreased due to the economic downturn, but the company maintained strong service metrics and improved its operating ratio.
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
Revenue by Segment
LTL Services Revenue
CapyFin.comOther Services Revenue
CapyFin.com 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