Old Dominion Freight Line Q3 Results Top Street View, Operating Margin Expands

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  • Old Dominion Freight Line Inc ODLF reported third-quarter revenue growth of 32.3% year-over-year to $1.4 billion, beating the consensus of $1.37 billion.
  • Revenue growth reflects a 15.7% LTL revenue per hundredweight increase and a 13.7% increase in LTL tons.
  • EPS improved by 44.4% Y/Y to $2.47, beating the consensus of $2.37.
  • The operating income increased by 41.9% Y/Y to $383.41 million, and the margin expanded by 190 bps to 27.4%.
  • The operating ratio for the quarter was 72.6%, compared to 74.5% a year ago. Operating expenses increased by 29% Y/Y to $1.02 billion.
  • Old Dominion Freight Line generated cash from operating activities year-to-date of $872.6 million and held $339.8 million in cash and cash equivalents as of September 30, 2021.
  • Year-to-date, the cash utilized for shareholder return programs included $599 million of share buybacks and $69.4 million of cash dividends.
  • Price Action: ODFL shares are trading lower by 0.43% at $324.36 on the last check Wednesday.
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