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Sep 30, 2024
Old Dominion Q3 2024 Earnings Report
Old Dominion's financial performance reflected ongoing softness in the domestic economy, resulting in a decrease in quarterly revenue and earnings per diluted share.
Key Takeaways
Old Dominion Freight Line reported a decrease in revenue and earnings per share for Q3 2024 due to a challenging operating environment and strong comparable results from the previous year. Despite this, the company maintained consistency in market share and yield performance, supported by best-in-class service.
Revenue decreased by 3.0% due to a 4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.
LTL revenue per hundredweight, excluding fuel surcharges, increased by 4.6%.
The operating ratio increased by 210 basis points to 72.7%.
Earnings per diluted share decreased by 7.1% to $1.43.
Revenue by Segment
Forward Guidance
Old Dominion continued to execute on its long-term strategic plan focused on delivering superior service at a fair price. The company believes that the consistency and quality of its service performance differentiates it in the marketplace and drives long-term profitable growth.
Positive Outlook
- Focus on delivering superior service at a fair price.
- Consistency and quality of service performance.
- Commitment to providing superior service and value to customers.
- Belief in winning additional market share through fundamental aspects of the business plan.
- Drive increased shareholder value.
Challenges Ahead
- Challenges associated with executing growth strategy.
- Potential changes in relationships with significant customers.
- Exposure to claims related to cargo loss and damage.
- Reductions in the available supply or increases in the cost of equipment and parts.
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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