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Old Dominion
🇺🇸 NASDAQ:ODFL
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OverviewEarningsDividends
•
Dec 31, 2021

Old Dominion Q4 2021 Earnings Report

Old Dominion's Q4 2021 financial performance resulted in new company records for annual revenue and profitability.

Key Takeaways

Old Dominion Freight Line reported a strong fourth quarter with revenue growth primarily driven by a 16.1% increase in LTL revenue per hundredweight and a 14.3% increase in LTL tons per day. The operating ratio improved to 73.6%, and the company saw improvements in both direct operating costs and total overhead costs as a percentage of revenue.

Revenue growth was primarily due to increases in LTL revenue per hundredweight and LTL tons per day.

Operating ratio improved 270 basis points to 73.6% due to quality revenue growth and operational efficiency.

Salaries, wages, and benefit costs as a percent of revenue improved to 46.9% from 50.7%.

The company intends to continue investing in service center capacity, fleet, technologies, and employees to sustain business momentum.

Total Revenue
$1.41B
Previous year: $1.07B
+31.4%
EPS
$1.21
Previous year: $0.81
+49.4%
LTL Revenue Per CWT
$26.8
Previous year: $23.1
+16.1%
LTL Shipments
3.26M
Previous year: 2.82M
+15.6%
LTL Tons
2.56M
Previous year: 2.28M
+12.5%
Gross Profit
$468M
Previous year: $332M
+41.1%
Cash and Equivalents
$463M
Previous year: $401M
+15.2%
Total Assets
$4.82B
Previous year: $4.37B
+10.3%

Old Dominion

Old Dominion

Old Dominion Revenue by Segment

Forward Guidance

Old Dominion expects to continue investing in service center capacity, its fleet, technologies, and employees. The company anticipates customer demand trends to remain positive and believes its service and capacity advantages will support its ability to win additional market share throughout 2022.

Positive Outlook

  • Company expects no near-term changes in customer demand trends.
  • Service and capacity advantages will continue to support ability to win additional market share throughout 2022.
  • Intends to continue investing in service center capacity.
  • Intends to continue investing in fleet.
  • Intends to continue investing in technologies.

Challenges Ahead

  • Challenges associated with executing growth strategy.
  • Risks related to public health epidemics, including the continuing impact of the COVID-19 pandemic.
  • Changes in relationships with significant customers.
  • Exposure to claims related to cargo loss and damage, property damage, personal injury, workers’ compensation and healthcare.
  • Availability and cost of new equipment, including regulatory changes and supply constraints.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Old Dominion