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Core Viewpoint - Old Dominion Freight Line reported a decline in Q2 2025 results, indicating ongoing challenges in the freight sector with decreased revenue and earnings per share compared to analyst estimates and the previous year [1][2]. Financial Performance - GAAP revenue for Q2 2025 was $1.41 billion, slightly below the estimate of $1.416 billion, and down 6.1% from $1.4987 billion in Q2 2024 [2]. - GAAP EPS was $1.27, missing the estimate of $1.28 and down 14.2% from $1.48 in the prior year [2]. - Operating income decreased by 15.1% year-over-year to $357.9 million, with a worsening operating ratio of 74.6%, up from 71.9% in Q2 2024 [2][7]. - Net income fell 16.6% to $268.6 million compared to $322 million in the same quarter last year [2][7]. Business Overview - Old Dominion Freight Line is a major player in the U.S. less-than-truckload (LTL) freight market, operating a network of 261 service centers [3]. - The company focuses on palletized shipments that do not fill a full truck, emphasizing high on-time performance and reliability [3]. Operational Insights - The decline in revenue was attributed to a 9.3% decrease in daily LTL tons and a 7.3% drop in shipments per day, with weight per shipment down 2.1% [5]. - Despite lower volumes, the company maintained pricing discipline, achieving a 3.4% year-over-year increase in LTL revenue per hundredweight [6]. - The operating ratio increased due to higher costs, including depreciation and employee benefits, making it challenging to maintain margins [7]. Investment and Future Outlook - The company plans to invest $450 million in capital expenditures for FY2025, focusing on real estate, service center expansion, and new equipment [8][9]. - Management did not provide formal financial guidance for the upcoming quarters but emphasized a commitment to pricing discipline and operational efficiency [10]. - Investors should monitor trends in LTL shipment volumes and revenue per hundredweight as indicators of future performance [11].

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]

Core Insights - Old Dominion Freight Line (ODFL) reported revenue of $1.41 billion for the quarter ended June 2025, reflecting a year-over-year decline of 6.1% [1] - The earnings per share (EPS) for the same period was $1.27, down from $1.48 a year ago, with an EPS surprise of -1.55% compared to the consensus estimate of $1.29 [1] - The company's revenue fell short of the Zacks Consensus Estimate of $1.42 billion, resulting in a surprise of -0.55% [1] Financial Performance Metrics - Operating Ratio was reported at 74.6%, slightly above the seven-analyst average estimate of 74.4% [4] - LTL (Less Than Truckload) tons totaled 2,123.00 KTon, compared to the four-analyst average estimate of 2,151.00 KTon [4] - LTL tonnage per day was 33.18 Kton/D, below the estimated 34.30 Kton/D [4] - LTL shipments amounted to 2,874, which is lower than the four-analyst average estimate of 2,917 [4] - LTL shipments per day were reported at 44.91 thousand, compared to the four-analyst average estimate of 45.59 thousand [4] - LTL weight per shipment was 1,478.00 lbs, slightly above the four-analyst average estimate of 1,474.69 lbs [4] - LTL revenue per hundredweight, excluding fuel surcharges, was $28.17, exceeding the average estimate of $28.09 [4] - Total revenue from LTL services was $1.4 billion, representing a year-over-year change of -6.1% and slightly above the two-analyst average estimate of $1.39 billion [4] - Total revenue from other services was $12.61 million, below the two-analyst average estimate of $14.29 million, reflecting a year-over-year change of -8.1% [4] Stock Performance - Shares of Old Dominion have returned -3.8% over the past month, contrasting with the Zacks S&P 500 composite's +3.4% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

[Earnings Announcement](index=1&type=section&id=Earnings%20Announcement) The company announced a decline in Q2 and YTD 2025 financial performance amid a soft domestic economy [Second Quarter 2025 Financial Results Overview](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results%20Overview) The company reported a decline in Q2 and YTD 2025 financial performance due to a soft domestic economy but maintained high service quality **Key Financial Highlights (Q2 and YTD 2025 vs. 2024):** | Metric | Q2 2025 | Q2 2024 | % Chg. | YTD 2025 | YTD 2024 | % Chg. | | :-------------------------------- | :---------- | :---------- | :------- | :---------- | :---------- | :------- | | Total revenue | $1,407,724 | $1,498,697 | (6.1)% | $2,782,582 | $2,958,770 | (6.0)% | | Operating income | $357,895 | $421,691 | (15.1)% | $695,950 | $808,117 | (13.9)% | | Operating ratio | 74.6% | 71.9% | +2.7 pts | 75.0% | 72.7% | +2.3 pts | | Net income | $268,626 | $322,045 | (16.6)% | $523,286 | $614,349 | (14.8)% | | Diluted earnings per share | $1.27 | $1.48 | (14.2)% | $2.46 | $2.82 | (12.8)% | - Achieved an **on-time service performance of 99%** and a **cargo claims ratio of 0.1%**, demonstrating commitment to superior service[2](index=2&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management discusses the drivers behind the financial results and outlines the company's strategic focus amidst a challenging environment [Analysis of Financial Performance Drivers](index=1&type=section&id=Analysis%20of%20Financial%20Performance%20Drivers) Reduced LTL tons per day drove the revenue decrease, while disciplined yield management partially offset the impact - Decrease in second quarter revenue primarily due to a **9.3% decrease in LTL tons per day**[3](index=3&type=chunk) - LTL tons per day decrease reflects a **7.3% decrease in LTL shipments per day** and a **2.1% decrease in LTL weight per shipment**[3](index=3&type=chunk) - LTL revenue per hundredweight, excluding fuel surcharges, **increased 5.3%** compared to Q2 2024, attributed to disciplined yield management[3](index=3&type=chunk) - Operating ratio **increased by 270 basis points to 74.6%** for Q2 2025, due to revenue deleveraging, increased depreciation, and higher overhead and direct operating costs[4](index=4&type=chunk)[5](index=5&type=chunk) [Strategic Outlook and Operational Focus](index=2&type=section&id=Strategic%20Outlook%20and%20Operational%20Focus) Management remains confident in its long-term strategy, focusing on superior service, yield discipline, and network investment - Company continues to manage through a difficult operating environment that has persisted longer than anticipated[9](index=9&type=chunk) - Remains confident in long-term positioning, emphasizing **best-in-class service, yield discipline, and efficient operations**[9](index=9&type=chunk) - Consistent execution and investment in the network positions the company to capitalize on improved demand, supporting profitable revenue growth[9](index=9&type=chunk) [Capital Management and Liquidity](index=2&type=section&id=Capital%20Management%20and%20Liquidity) The company details its cash flow generation, capital expenditure plans, and significant capital returns to shareholders [Cash Flow and Capital Allocation](index=2&type=section&id=Cash%20Flow%20and%20Capital%20Allocation) The company generated strong operating cash flow, detailed its capital expenditures, and projected total spending for 2025 **Cash Flow and Cash Equivalents:** | Metric | Q2 2025 | YTD 2025 | | :-------------------------------- | :---------- | :---------- | | Net cash provided by operating activities | $285.9 million | $622.4 million | | Cash and cash equivalents (as of June 30, 2025) | $24.1 million | N/A | - Capital expenditures were **$187.2 million for Q2 2025** and **$275.3 million for the first half of the year**[7](index=7&type=chunk) - Expected aggregate capital expenditures for 2025 total approximately **$450 million**, including[7](index=7&type=chunk): - $210 million for real estate and service center expansion projects - $190 million for tractors and trailers - $50 million for information technology and other assets [Shareholder Return Programs](index=2&type=section&id=Shareholder%20Return%20Programs) The company returned significant capital to shareholders through share repurchases and cash dividends in the first half of 2025 **Capital Returned to Shareholders (First Six Months 2025):** | Program | Amount | | :---------------- | :------------- | | Share repurchases | $424.6 million | | Cash dividends | $118.5 million | [Company Information](index=4&type=section&id=Company%20Information) This section provides an overview of the company's operations as a leading North American LTL motor carrier [Business Description](index=4&type=section&id=Business%20Description) Old Dominion is a leading North American LTL carrier offering a wide range of logistics and value-added services - One of the largest North American LTL motor carriers, providing regional, inter-regional, and national LTL services[12](index=12&type=chunk) - Operates through a single integrated, union-free organization with an expansive network of service centers across the continental U.S[12](index=12&type=chunk) - Offers value-added services including expedited transportation, container drayage, truckload brokerage, and supply chain consulting[12](index=12&type=chunk) [Legal and Disclosures](index=2&type=section&id=Legal%20and%20Disclosures) This section outlines cautionary statements regarding forward-looking information and details key business and economic risks [Forward-Looking Statements and Risk Factors](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section contains cautionary statements on forward-looking information and highlights various risks and uncertainties - Forward-looking statements involve risks and uncertainties that could cause actual events and results to be materially different[10](index=10&type=chunk) - Key risks include challenges in executing growth strategy, changes in customer relationships, economic downturns, competition, and cyber incidents[10](index=10&type=chunk)[11](index=11&type=chunk) - The company undertakes no obligation to publicly update any forward-looking statement except as required by law[11](index=11&type=chunk) [Detailed Financial and Operating Data](index=5&type=section&id=Detailed%20Financial%20and%20Operating%20Data) This section provides unaudited financial statements and key operating statistics for the reported periods [Statements of Operations (Unaudited)](index=5&type=section&id=Statements%20of%20Operations%20(Unaudited)) Presents unaudited consolidated statements of operations for the three and six months ended June 30, 2025, and 2024 **OLD DOMINION FREIGHT LINE, INC. Statements of Operations (Unaudited):** | (In thousands, except per share amounts) | Second Quarter 2025 | % | Second Quarter 2024 | % | Year to Date 2025 | % | Year to Date 2024 | % | | :--------------------------------------- | :------------------ | :---- | :------------------ | :---- | :---------------- | :---- | :---------------- | :---- | | Revenue | $1,407,724 | 100.0% | $1,498,697 | 100.0% | $2,782,582 | 100.0% | $2,958,770 | 100.0% | | Operating expenses: | | | | | | | | | | Salaries, wages & benefits | 672,093 | 47.7% | 683,784 | 45.6% | 1,330,178 | 47.8% | 1,352,174 | 45.7% | | Operating supplies & expenses | 142,457 | 10.1% | 161,020 | 10.7% | 292,349 | 10.5% | 333,492 | 11.3% | | General supplies & expenses | 41,676 | 3.0% | 44,371 | 3.0% | 81,556 | 2.9% | 89,947 | 3.0% | | Operating taxes & licenses | 34,983 | 2.5% | 36,282 | 2.4% | 70,586 | 2.5% | 72,120 | 2.5% | | Insurance & claims | 18,794 | 1.3% | 17,141 | 1.2% | 36,274 | 1.3% | 35,335 | 1.2% | | Communications & utilities | 9,296 | 0.7% | 10,158 | 0.7% | 20,099 | 0.7% | 21,153 | 0.7% | | Depreciation & amortization | 90,663 | 6.4% | 84,563 | 5.6% | 179,795 | 6.5% | 169,094 | 5.6% | | Purchased transportation | 28,544 | 2.0% | 32,010 | 2.2% | 56,207 | 2.0% | 62,720 | 2.1% | | Miscellaneous expenses, net | 11,323 | 0.9% | 7,677 | 0.5% | 19,588 | 0.8% | 14,618 | 0.6% | | Total operating expenses | 1,049,829 | 74.6% | 1,077,006 | 71.9% | 2,086,632 | 75.0% | 2,150,653 | 72.7% | | Operating income | 357,895 | 25.4% | 421,691 | 28.1% | 695,950 | 25.0% | 808,117 | 27.3% | | Non-operating expense (income): | | | | | | | | | | Interest expense | 6 | 0.0% | 131 | 0.0% | 8 | 0.0% | 168 | 0.0% | | Interest income | (684) | (0.0)% | (5,961) | (0.5)% | (2,346) | (0.1)% | (13,333) | (0.5)% | | Other expense, net | 1,357 | 0.0% | 1,075 | 0.1% | 2,428 | 0.1% | 1,954 | 0.1% | | Income before income taxes | 357,216 | 25.4% | 426,446 | 28.5% | 695,860 | 25.0% | 819,328 | 27.7% | | Provision for income taxes | 88,590 | 6.3% | 104,401 | 7.0% | 172,574 | 6.2% | 204,979 | 6.9% | | Net income | $268,626 | 19.1% | $322,045 | 21.5% | $523,286 | 18.8% | $614,349 | 20.8% | | Earnings per share: | | | | | | | | | | Basic | $1.27 | | $1.49 | | $2.47 | | $2.83 | | | Diluted | $1.27 | | $1.48 | | $2.46 | | $2.82 | | | Weighted average outstanding shares: | | | | | | | | | | Basic | 211,083 | | 216,369 | | 211,739 | | 216,981 | | | Diluted | 212,164 | | 217,541 | | 212,821 | | 218,174 | | [Operating Statistics (Unaudited)](index=6&type=section&id=Operating%20Statistics%20(Unaudited)) Provides detailed unaudited operating statistics for the second quarter and year-to-date periods of 2025 and 2024 **OLD DOMINION FREIGHT LINE, INC. Operating Statistics (Unaudited):** | Metric | Second Quarter 2025 | Second Quarter 2024 | % Chg. | Year to Date 2025 | Year to Date 2024 | % Chg. | | :------------------------------------------ | :------------------ | :------------------ | :------- | :------------------ | :------------------ | :------- | | Work days | 64 | 64 | —% | 127 | 128 | (0.8)% | | Operating ratio | 74.6% | 71.9% | | 75.0% | 72.7% | | | LTL intercity miles (in thousands) | 159,582 | 172,361 | (7.4)% | 316,841 | 342,127 | (7.4)% | | LTL tons (in thousands) | 2,123 | 2,340 | (9.3)% | 4,211 | 4,604 | (8.5)% | | LTL tonnage per day | 33,178 | 36,560 | (9.3)% | 33,157 | 35,970 | (7.8)% | | LTL shipments (in thousands) | 2,874 | 3,100 | (7.3)% | 5,682 | 6,104 | (6.9)% | | LTL shipments per day | 44,907 | 48,444 | (7.3)% | 44,738 | 47,687 | (6.2)% | | LTL revenue per hundredweight | $32.84 | $31.77 | 3.4% | $32.76 | $31.87 | 2.8% | | LTL revenue per hundredweight, excluding fuel surcharges | $28.17 | $26.75 | 5.3% | $28.03 | $26.76 | 4.7% | | LTL revenue per shipment | $485.31 | $479.48 | 1.2% | $485.55 | $480.84 | 1.0% | | LTL revenue per shipment, excluding fuel surcharges | $416.31 | $403.77 | 3.1% | $415.50 | $403.74 | 2.9% | | LTL weight per shipment (lbs.) | 1,478 | 1,509 | (2.1)% | 1,482 | 1,509 | (1.8)% | | Average length of haul (miles) | 912 | 918 | (0.7)% | 914 | 919 | (0.5)% | | Average active full-time employees | 21,621 | 22,702 | (4.8)% | 21,719 | 22,796 | (4.7)% | [Balance Sheets (Unaudited)](index=6&type=section&id=Balance%20Sheets%20(Unaudited)) Presents the company's unaudited balance sheets as of June 30, 2025, and December 31, 2024 **OLD DOMINION FREIGHT LINE, INC. Balance Sheets (Unaudited):** | (In thousands) | June 30, 2025 | December 31, 2024 | | :-------------------------- | :-------------- | :---------------- | | Cash and cash equivalents | $24,057 | $108,676 | | Other current assets | 674,086 | 612,007 | | Total current assets | 698,143 | 720,683 | | Net property and equipment | 4,590,436 | 4,505,431 | | Other assets | 262,517 | 265,281 | | Total assets | $5,551,096 | $5,491,395 | | Current maturities of long-term debt | $20,000 | $20,000 | | Other current liabilities | 486,863 | 520,529 | | Total current liabilities | 506,863 | 540,529 | | Long-term debt | 149,992 | 39,987 | | Other non-current liabilities | 663,610 | 666,291 | | Total liabilities | 1,320,465 | 1,246,807 | | Equity | 4,230,631 | 4,244,588 | | Total liabilities & equity | $5,551,096 | $5,491,395 |

Core Viewpoint - Old Dominion Freight Line (ODFL) reported quarterly earnings of $1.27 per share, missing the Zacks Consensus Estimate of $1.29 per share, and showing a decline from $1.48 per share a year ago, indicating a negative earnings surprise of -1.55% [1][2] Financial Performance - The company posted revenues of $1.41 billion for the quarter ended June 2025, which was 0.55% below the Zacks Consensus Estimate and a decrease from $1.5 billion year-over-year [2] - Over the last four quarters, Old Dominion has surpassed consensus EPS estimates two times and topped revenue estimates two times [2] Stock Performance - Old Dominion shares have declined approximately 8.1% since the beginning of the year, contrasting with the S&P 500's gain of 8.3% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.37 on revenues of $1.46 billion, and for the current fiscal year, it is $5.11 on revenues of $5.66 billion [7] - The trend of estimate revisions for Old Dominion was unfavorable prior to the earnings release, which may impact future stock movements [5][6] Industry Context - The Transportation - Truck industry, to which Old Dominion belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of Old Dominion's stock may be influenced by the overall outlook for the industry [8]

Core Insights - Old Dominion Freight Line (ODFL) is set to report its second-quarter 2025 results on July 30, with expectations of a decline in earnings and revenue compared to the previous year [1][5]. Earnings Performance - ODFL's earnings have exceeded the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 2.67% [1][2]. - The earnings per share (EPS) for Q2 2025 is projected at $1.29, reflecting a 12.84% decrease year over year, and has been revised down by 1.53% in the last 60 days [3][5]. Revenue Expectations - The revenue estimate for Q2 2025 is $1.42 billion, indicating a 5.55% decline from the previous year, attributed to weak freight demand and inflationary pressures [4][5]. - Revenue from Less-Than-Truckload (LTL) services is expected to be $1.41 billion, down 5.3%, while other services are projected to generate $16.5 million, a 20% increase year over year [7]. Market Conditions - The freight market downturn is anticipated to have significantly impacted ODFL's performance, with reduced shipments and rates due to declining demand for freight services [6][8]. - Geopolitical uncertainties and tariff-related issues are also contributing factors to the expected revenue decline [4][5]. Earnings Prediction Model - The current model does not predict an earnings beat for ODFL, as it has an Earnings ESP of -0.68% and a Zacks Rank of 4 (Sell) [8].