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Sep 30, 2020
Old Dominion Q3 2020 Earnings Report
Old Dominion's financial results reflected an increase in revenue, a company-record operating ratio, and a rise in earnings per diluted share.
Key Takeaways
Old Dominion Freight Line reported an increase in revenue and a company-record operating ratio, leading to a 24.8% increase in earnings per diluted share for Q3 2020. The company's financial results reflect the recovery in the domestic economy and the execution of its long-term strategic plan.
Revenue increased primarily due to a 1.3% increase in LTL tons per day, partially offset by a 0.6% decrease in LTL revenue per hundredweight.
LTL revenue per hundredweight, excluding fuel surcharges, increased 2.6% compared to Q3 2019.
The operating ratio improved to a new quarterly company record of 74.5%.
On-time service was 99% and the cargo claims ratio was an historic low of 0.1% during the quarter.
Revenue by Segment
Forward Guidance
Old Dominion believes the domestic economy will continue to improve and expects a strong finish to this year. With service and capacity advantages, combined with financial strength, the company is positioned to grow profitably and increase shareholder value.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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