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Group 1 - The article highlights Old Dominion Freight Line (ODFL) as a highly efficient less-than-truckload carrier in the U.S. market [1] - The author expresses a beneficial long position in ODFL shares, indicating confidence in the company's growth potential [1] Group 2 - The article is part of a broader discussion on undervalued dividend growers, suggesting a focus on income-generating investments [1]

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ . Commission File Number: 0-19582 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (State or other jurisdiction of incorpor ...

Core Viewpoint - A group of Wall Street analysts has identified several undervalued stocks in the transportation sector, particularly in trucking, presenting potential investment opportunities for investors [2][3]. Group 1: Saia Inc. (NASDAQ: SAIA) - Saia Inc. is highlighted as having the deepest discount relative to its 52-week high, with a current price of $299.08 and a 12-month price forecast of $347.16, indicating a potential upside of 16.08% [3][5]. - The stock's significant gap from its 52-week high suggests limited downside risk, as further declines would require unforeseen negative events [3][4]. - Analysts believe that current trade tariffs may enhance domestic production and consumption, making Saia stock an attractive investment at its current discount [5]. Group 2: Old Dominion Freight Line Inc. (NASDAQ: ODFL) - Old Dominion's stock has seen a decline of 15.4% following a slight earnings miss, reporting $1.27 EPS against an estimate of $1.29 [7][8]. - Despite the recent sell-off, analysts project a recovery, with expectations of $1.71 EPS for Q2 2026, providing a fundamental basis for a potential rebound [8][10]. - The stock currently trades at 62% of its 52-week high, with a consensus price target of $167.62, suggesting a potential upside of 13.37% [6][9]. Group 3: XPO Logistics Inc. (NYSE: XPO) - XPO Logistics has experienced a 10% decline recently, trading at 74% of its 52-week high, which has attracted buyers looking for value [11][12]. - The stock has a current price of $120.40, with a 12-month price forecast of $138.00, indicating a potential upside of 14.62% [11]. - Analysts note that XPO's premium valuation, with a P/E ratio of 41.3, reflects investor confidence in its ability to outperform peers, particularly due to its exposure to Canadian and European markets [13][14][15].

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Old Dominion Freight Line (ODFL 1.93%), a leading U.S. less-than-truckload (LTL) freight carrier, published its second quarter 2025 results on July 30, 2025. The company reported GAAP revenue of $1.41 billion and GAAP earnings per share (EPS) of $1.27, both coming in modestly below analyst estimates of $1.416 billion and $1.28, respectively (GAAP). Compared to the prior-year quarter, GAAP revenue decreased by 6.1% and EPS fell by 14.2% year-over-year in the second quarter. The results signal continued softn ...

Core Insights - Old Dominion Freight Line, Inc. (ODFL) reported disappointing second-quarter 2025 results, with earnings and revenues missing the Zacks Consensus Estimate and declining year-over-year [1][3] - Quarterly earnings per share were $1.27, missing the estimate of $1.29 and down 14.2% year-over-year, while revenues were $1.41 billion, below the estimate of $1.42 billion and down 6.1% year-over-year [1][9] Revenue Performance - The decline in ODFL's second-quarter revenues was primarily due to a 9.3% decrease in LTL tons per day, which was partially offset by a 5.3% increase in LTL revenue per hundredweight [2][5] - LTL revenues amounted to $1.39 billion, down 6.1% year-over-year, and revenues from other services fell 8.1% to $12.61 million [5][6] Operational Metrics - LTL shipments per day decreased by 7.3%, and LTL weight per shipment dipped by 2.1%, while LTL revenue per shipment increased by 1.2% year-over-year [6] - Total operating expenses declined by 2.5% year-over-year to $1.05 billion, with operating income decreasing by 15.1% to $357.89 million [6] Financial Position - At the end of the second quarter, ODFL had cash and cash equivalents of $24.05 million, down from $97.19 million at the end of the previous quarter, and long-term debt increased to $149.99 million from $39.99 million [7] - ODFL generated $285.9 million in net cash from operating activities during the quarter, with capital expenditures of $187.2 million [8] Strategic Outlook - The company anticipates total capital expenditures for 2025 to be around $450 million, including $210 million for real estate and service center expansions, $190 million for tractors and trailers, and $50 million for IT and other assets [8][9] - CEO Marty Freeman noted that the financial results reflect ongoing softness in the domestic economy but emphasized the company's commitment to providing superior service and maintaining market share [4]

Core Viewpoint - Old Dominion Freight Line, Inc. is conducting its Q2 2025 earnings call, indicating a focus on financial performance and future outlook for the company [1][2][3] Group 1: Company Overview - The earnings call is hosted by key executives including the CFO and CEO, highlighting the importance of leadership in communicating financial results [1][2] - The call is being recorded and will be available for replay, demonstrating the company's commitment to transparency and investor relations [2][3] Group 2: Financial Performance - The conference call is part of the company's regular reporting cycle, suggesting a structured approach to financial disclosures [2][3] - Forward-looking statements may be included, indicating the company's strategy to provide insights into future performance [3]

Financial Data and Key Metrics Changes - Old Dominion's revenue totaled $1.41 billion for Q2 2025, reflecting a 6.1% decrease from the prior year, driven by a 9.3% decrease in LTL tons per day, partially offset by a 3.4% increase in LTL revenue per hundredweight [13][7] - The operating ratio increased by 270 basis points to 74.6% for Q2 2025, primarily due to the deleveraging effect of decreased revenue on operating expenses [16][11] - Cash flow from operations was $285.9 million for Q2 and $622.4 million for the first half of 2025, with capital expenditures of $187.2 million and $275.3 million for the same periods [18] Business Line Data and Key Metrics Changes - LTL tons per day decreased by 9.3%, while LTL shipments per day increased by 0.8% sequentially [13] - Monthly sequential changes in LTL tons per day showed a decrease of 3.7% in April, an increase of 0.5% in May, and a decrease of 0.6% in June [14] Market Data and Key Metrics Changes - Current month-to-date revenue per day for July is down 5.1% compared to July 2024, with an 8.5% decrease in LTL tons per day [15] - The company expects to see a slight improvement in revenue performance in July compared to Q2, with cautious optimism for the latter half of the quarter [46] Company Strategy and Development Direction - The company remains focused on delivering superior service and maintaining market share during economic downturns, with ongoing investments in network and technology to prepare for future demand increases [8][10] - Old Dominion aims to leverage its unique culture and commitment to service excellence to capture market share as demand improves [12][30] Management's Comments on Operating Environment and Future Outlook - Management noted continued softness in the domestic economy but expressed confidence in the company's ability to produce profitable revenue growth and drive shareholder value in the long term [7][12] - The management team highlighted the importance of maintaining discipline in pricing and service quality to navigate the current economic challenges [10][51] Other Important Information - The effective tax rate for 2025 was 24.8%, with expectations to remain the same for Q3 [18] - The company has been actively managing costs, with a focus on controlling variable costs despite increased overhead expenses [17][78] Q&A Session Summary Question: Thoughts on operating ratio progression from Q2 to Q3 - Management expects an increase in operating ratio by 80 to 120 basis points due to flat revenue and increased costs in salary, wages, and benefits [21][22] Question: Market share commentary amidst positive ATA shipment index - Management believes their market share remains consistent, focusing on maintaining share during economic weakness while increasing yields [29][30] Question: Pressure on operating supplies and expenses - Management noted good performance in repairs and maintenance but anticipates pressures from fuel costs and fringe benefits in Q3 [34][38] Question: Pricing outlook for Q3 - Management expects yield ex-fuel to increase by 4% to 4.5% in Q3, maintaining discipline in pricing despite competitive pressures [51][52] Question: Competitive environment and market share - Management acknowledged competition but emphasized their strong service offering and ability to maintain market share during downturns [58][60] Question: Impact of prolonged soft demand on strategy - Management remains committed to their strategy, focusing on cost management and service quality while waiting for demand recovery [75][78]

Financial Data and Key Metrics Changes - Old Dominion's revenue totaled $1.41 billion for Q2 2025, reflecting a 6.1% decrease from the prior year, driven by a 9.3% decrease in LTL tons per day, partially offset by a 3.4% increase in LTL revenue per hundredweight [11][12] - The operating ratio increased by 270 basis points to 74.6% for 2025, influenced by revenue decline and a 160 basis point increase in overhead costs as a percentage of revenue [13][14] - Cash flow from operations was $285.9 million for Q2 and $622.4 million for the first half of 2025, with capital expenditures of $187.2 million and $275.3 million for the same periods [15][16] Business Line Data and Key Metrics Changes - LTL tons per day decreased by 9.3%, while LTL revenue per hundredweight increased by 3.4% [11] - Monthly sequential changes in LTL tons per day showed a decrease of 3.7% in April, an increase of 0.5% in May, and a decrease of 0.6% in June [12] Market Data and Key Metrics Changes - Current month-to-date revenue per day for July is down 5.1% compared to July 2024, with an 8.5% decrease in LTL tons per day [12] - The company expects to see a slight improvement in July compared to Q2, with a cautious optimism for the latter half of the quarter [42][44] Company Strategy and Development Direction - The company remains focused on delivering superior service and maintaining market share during economic downturns, with ongoing investments in network, technology, and employee development [6][10] - The strategy emphasizes individual account level profitability and disciplined pricing to offset cost inflation [8][9] - The company aims to be the largest market share winner over the next decade, positioning itself to respond effectively to demand improvements [10] Management's Comments on Operating Environment and Future Outlook - Management noted continued softness in the domestic economy but expressed confidence in the company's ability to produce profitable revenue growth and drive shareholder value in the long term [5][10] - The management team highlighted the importance of maintaining service excellence and managing costs effectively during uncertain demand periods [9][77] - There is optimism regarding potential economic recovery, with expectations that macro factors will stabilize and create opportunities for growth [30][52] Other Important Information - The effective tax rate for 2025 was 24.8%, slightly up from 24.5% in 2024, with expectations to remain the same for Q3 [16] - The company utilized $223.5 million for share repurchase during Q2 2025 [16] Q&A Session Summary Question: Thoughts on operating ratio progression from Q2 to Q3 - The company expects an increase in operating ratio by 80 to 120 basis points due to flat revenue and increased costs in salary, wages, and benefits [19][20] Question: Market share commentary and competitive positioning - Management believes their market share remains consistent despite economic weakness, focusing on maintaining share and increasing yields [28][30] Question: Pressure on operating supplies and expenses - The company experienced good performance in managing repairs and maintenance costs, but anticipates pressure from fuel costs and employee benefits in Q3 [32][36] Question: Pricing outlook for Q3 - The yield ex-fuel is expected to increase by 4% to 4.5%, reflecting consistent pricing discipline in the market [48][49] Question: Competitive environment and market share - Management noted that while competition exists, their service quality and reliability remain unmatched, particularly in high-service segments [56][61] Question: Long-term outlook and incremental margins - The company expects to achieve 35% to 40% incremental margins when demand improves, with a focus on maintaining a sub-70% operating ratio in the long term [100][101]