- Old Dominion Freight Line Inc ODFL reported second-quarter revenue growth of 26.4% year-over-year to $1.67 billion, beating the consensus of $1.64 billion.
- EPS improved by 42.9% Y/Y to $3.30, beating the consensus of $3.14.
- Revenue growth reflects a 22.6% increase in LTL revenue per hundredweight and a 2.8% increase in LTL tons per day.
- The operating income increased by 38.9% Y/Y to $508.71 million, and the margin expanded by 276 bps to 30.5%.
- The operating ratio for the quarter was 69.5%, compared to 72.3% a year ago.
- Old Dominion's net cash provided by operating activities was $427.3 million for the quarter and $816.1 million for the year's first half.
- The company had $420.5 million in cash and cash equivalents as of June 30, 2022.
- The company's cash utilized for shareholder return programs during 1H included $731.9 million in share repurchases and $68.0 million of cash dividends.
- Price Action: ODFL shares traded lower by 2.13% at $267.28 on the last check Wednesday.
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