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Jun 30, 2025
Old Dominion Q2 2025 Earnings Report
Old Dominion reported lower earnings and revenue in Q2 2025 due to a continued soft freight environment.
Key Takeaways
Old Dominion Freight Line experienced a decline in revenue and net income in Q2 2025 as reduced LTL volumes and macroeconomic softness weighed on performance.
Total revenue for Q2 2025 decreased by 6.1% to $1.408 billion compared to the same period last year.
Diluted earnings per share for Q2 2025 were $1.27, a 14.2% decrease from $1.48 in Q2 2024.
LTL tons per day decreased by 9.3%, driven by a 7.3% decrease in LTL shipments per day and a 2.1% decrease in LTL weight per shipment.
The operating ratio increased by 270 basis points to 74.6% due to revenue deleveraging and increased overhead and direct operating costs.
Revenue by Segment
Forward Guidance
Old Dominion remains focused on long-term yield and efficiency while preparing to capitalize on future demand recovery.
Positive Outlook
- Maintained 99% on-time service level
- Strong yield discipline with revenue per CWT up
- Low cargo claims ratio of 0.1%
- Continued investment in infrastructure and technology
- Strong operating efficiency despite volume decline
Challenges Ahead
- LTL tons per day declined 9.3%
- Revenue fell due to volume softness
- EPS down due to operating leverage loss
- Higher health and dental plan costs
- Increase in operating ratio to 74.6%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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