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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.
Old Dominion
Old Dominion
Old Dominion Revenue by Segment
Revenue by Segment
LTL Services Revenue
CapyFin.comOther Services Revenue
CapyFin.com 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