Old Dominion Q4 2023 Earnings Report
Key Takeaways
Old Dominion Freight Line reported a slight increase in fourth-quarter revenue and earnings per diluted share, marking the first year-over-year increase for the year. Revenue growth was primarily driven by a 3.0% increase in LTL revenue per hundredweight, offsetting a 2.0% decrease in LTL tons per day. The company's operating ratio increased to 71.8%, with notable increases in insurance and claims expenses.
Fourth-quarter revenue increased slightly due to a 3.0% rise in LTL revenue per hundredweight.
LTL tons per day decreased by 2.0%, while LTL shipments per day and overall market share improved.
Operating ratio increased to 71.8%, impacted by higher insurance and claims expenses.
Capital expenditures for 2024 are projected to be approximately $750 million.
Old Dominion
Old Dominion
Old Dominion Revenue by Segment
Forward Guidance
Old Dominion expects its aggregate capital expenditures for 2024 to total approximately $750 million, including planned expenditures of $350 million for real estate and service center expansion projects; $325 million for tractors and trailers; and $75 million for information technology and other assets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income