Old Dominion Earnings Shine Despite Revenue Slide, CEO Blames 'Ongoing Softness' In Economy

Author: Lekha Gupta | April 23, 2025 10:13am

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares are trading higher following first-quarter results.

Here's a breakdown of what the company reported:

• Revenue declined 5.8% year-over-year (Y/Y) to $1.375 billion, slighly beating the consensus of $1.37 billion.
• There was a 6.3% Y/Y decrease in LTL tons per day, a 5% Y/Y drop in LTL shipments per day and, a 1.4% Y/Y reduction in LTL weight per shipment.
• LTL revenue per hundredweight, excluding fuel surcharges, rose 4.1% Y/Y in the quarter.
• EPS was $1.19, beating the consensus of $1.14.
• Operating income fell 12.5% to $338 million, with an operating ratio of 75.4%, compared to 73.5% a year ago.
• Old Dominion’s operating cash flow was $336.5 million for the first quarter.
• As of March 31, the company had $97.2 million in cash and equivalents.
• Capital expenditures stood at $88.1 million in the quarter.
• Roughly $201.1 million was spent on share repurchases and $59.5 million in dividends.

Old Dominion CEO Marty Freeman said the company’s financial results for the first quarter reflect “ongoing softness in the domestic economy.”

“While we were encouraged to see signs of improving demand during the first quarter, there continues to be uncertainty with the economy,” he added.

The company brass insists they are “uniquely positioned to respond to an improving economy.”

Investors can gain exposure to the stock via First Trust S&P 500 Diversified Dividend Aristocrats ETF (BATS:IYT) and ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:SUPL).

Price Action: Old Dominion shares are up 5.46% at $160.37 premarket at the last check Wednesday.

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Posted In: IYT ODFL SUPL