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Jun 30, 2023
Old Dominion Q2 2023 Earnings Report
Old Dominion's financial performance reflected softness in the domestic economy, resulting in a decrease in total revenue due to weakness in volumes.
Key Takeaways
Old Dominion Freight Line reported a decrease in total revenue by 15.2% due to a 14.1% decrease in LTL tons per day. Despite the revenue decline, the company managed to achieve a 72.3% operating ratio and earnings per diluted share of $2.65 through effective cost management and superior service delivery.
Total revenue decreased by 15.2% due to economic softness and volume decline.
LTL tons per day decreased by 14.1%, impacting overall revenue.
Operating ratio increased to 72.3% due to higher overhead costs as a percentage of revenue.
Earnings per diluted share were reported at $2.65.
Revenue by Segment
Forward Guidance
Old Dominion intends to return excess capital to its shareholders through its share repurchase and dividend programs, the priority for capital spending will continue to be strategic investments in capital expenditures to support the long-term profitable growth of its business.
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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