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Jun 30, 2021
Old Dominion Q2 2021 Earnings Report
Old Dominion's second quarter financial results include new company records for quarterly revenue, operating ratio, and earnings per diluted share.
Key Takeaways
Old Dominion Freight Line reported record second-quarter results, including new company records for quarterly revenue, operating ratio, and earnings per diluted share. The company's revenue growth was driven by a significant increase in demand for its superior service, supported by investments in its service center network and a recovering domestic economy.
Achieved record quarterly revenue, operating ratio, and earnings per diluted share.
Revenue growth driven by a 28.1% increase in LTL tons and a 14.9% increase in LTL revenue per hundredweight.
Operating ratio improved by 550 basis points to 72.3%.
Board of Directors approved a new share repurchase program authorizing the repurchase of up to $2.0 billion of its outstanding stock.
Revenue by Segment
Forward Guidance
Old Dominion did not provide specific forward guidance in this earnings report. However, they expressed confidence in their ability to produce additional profitable growth and increased shareholder value through continued execution of their strategic plan and investments in their employees, fleet, and service center network.
Positive Outlook
- Consistent execution of strategic plan.
- Service and capacity advantages.
- Further investment in OD Family of employees.
- Further investment in our fleet.
- Further investment in our service center network.
Challenges Ahead
- Challenges associated with executing growth strategy.
- Risks related to public health epidemics, pandemics and similar outbreaks.
- Changes in relationships with significant customers.
- Exposure to claims related to cargo loss and damage, property damage, personal injury, workers’ compensation and healthcare.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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