Part I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed financial statements for the quarter ended March 31, 2025, including balance sheets, statements of operations, changes in shareholders' equity, and cash flows, reflecting a softer economic environment with decreased revenue, net income, and cash from operations compared to the prior year [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) The balance sheet shows total assets of $5.491 billion as of March 31, 2025, nearly unchanged from December 31, 2024, with total liabilities slightly increasing to $1.256 billion and shareholders' equity decreasing to $4.235 billion due to share repurchases and dividends exceeding net income Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $97,198 | $108,676 | | Total current assets | $734,384 | $720,683 | | Net property and equipment | $4,497,361 | $4,505,431 | | **Total assets** | **$5,491,294** | **$5,491,395** | | Total current liabilities | $557,353 | $540,529 | | **Total liabilities** | **$1,255,970** | **$1,246,807** | | **Total shareholders' equity** | **$4,235,324** | **$4,244,588** | [Condensed Statements of Operations](index=6&type=section&id=Condensed%20Statements%20of%20Operations) For the three months ended March 31, 2025, revenue decreased to $1.375 billion from $1.460 billion in the prior-year period, with net income falling to $254.7 million from $292.3 million and diluted earnings per share (EPS) dropping to $1.19 from $1.34 Q1 Operating Results (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue from operations | $1,374,858 | $1,460,073 | | Operating income | $338,055 | $386,426 | | Net income | $254,660 | $292,304 | | Diluted EPS | $1.19 | $1.34 | [Condensed Statements of Changes in Shareholders' Equity](index=7&type=section&id=Condensed%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity decreased from $4.245 billion at year-end 2024 to $4.235 billion at March 31, 2025, primarily due to **$203.0 million** in share repurchases and **$59.4 million** in cash dividends, partially offset by **$254.7 million** in net income - Share repurchases totaled **$203.0 million** in Q1 2025, a significant increase from **$86.0 million** in Q1 2024[20](index=20&type=chunk) - Cash dividends declared increased to **$0.28 per share** in Q1 2025 from **$0.26 per share** in Q1 2024[18](index=18&type=chunk)[20](index=20&type=chunk) [Condensed Statements of Cash Flows](index=8&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash from operating activities was $336.5 million, a decrease from $423.9 million in the prior year's quarter, with cash used in investing at $82.9 million and cash used in financing at $265.1 million, primarily for share repurchases and dividends, resulting in cash and cash equivalents ending the period at $97.2 million, down from $581.0 million a year ago Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $336,519 | $423,893 | | Net cash used in investing activities | $(82,917) | $(117,952) | | Net cash used in financing activities | $(265,080) | $(158,766) | | **(Decrease) increase in cash** | **$(11,478)** | **$147,175** | | **Cash and cash equivalents at end of period** | **$97,198** | **$580,974** | [Notes to the Condensed Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Financial%20Statements) The notes detail the company's business, accounting policies, and financial instruments, highlighting its operation as a single reportable segment in the less-than-truckload (LTL) industry, the initiation of a new $3.0 billion share repurchase program in May 2024, and total long-term debt of $60.0 million as of March 31, 2025 - The company operates as a single reportable segment providing LTL services, which accounted for **$1.36 billion** of the **$1.37 billion total revenue** in Q1 2025[26](index=26&type=chunk)[49](index=49&type=chunk) - A new **$3.0 billion stock repurchase program** began in May 2024. As of March 31, 2025, **$2.06 billion** remained authorized under this program[31](index=31&type=chunk)[34](index=34&type=chunk) - Total long-term debt, including current maturities, was **$60.0 million** at March 31, 2025, related to Series B Notes due in annual installments through May 2027[40](index=40&type=chunk)[42](index=42&type=chunk)[48](index=48&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 5.8% decrease in Q1 2025 revenue to continued softness in the domestic economy, leading to a 6.3% decline in LTL tonnage per day, while maintaining pricing discipline with a 2.2% increase in LTL revenue per hundredweight (4.1% excluding fuel surcharges), resulting in a worsened operating ratio of 75.4% from 73.5% due to deleveraging and higher depreciation, prompting a reduction in the 2025 capital expenditure plan to $450 million while continuing capital return programs [Results of Operations](index=17&type=section&id=Results%20of%20Operations) Q1 2025 revenue decreased by 5.8% YoY to $1.375 billion, driven by a 6.3% drop in LTL tonnage per day and a 5.0% decrease in LTL shipments per day, partially offset by a 2.2% increase in LTL revenue per hundredweight, leading to an increased operating ratio of 75.4% from 73.5% in Q1 2024 and a 12.9% fall in net income to $254.7 million, with preliminary April 2025 data showing a continued revenue per day decrease of 5.5% YoY Q1 2025 vs Q1 2024 Key Operating Metrics | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenue (in thousands) | $1,374,858 | $1,460,073 | (5.8)% | | Operating Ratio | 75.4% | 73.5% | +190 bps | | LTL tonnage per day | 33,135 | 35,380 | (6.3)% | | LTL shipments per day | 44,566 | 46,931 | (5.0)% | | LTL revenue per hundredweight | $32.67 | $31.98 | 2.2% | - Excluding fuel surcharges, LTL revenue per hundredweight increased **4.1%** in Q1 2025 compared to Q1 2024, reflecting the company's yield management strategy[61](index=61&type=chunk) - Salaries, wages, and benefits decreased **1.5%** due to a **4.7% reduction** in average full-time employees, but increased as a percentage of revenue from **45.8% to 47.9%**[59](index=59&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk) - April 2025 revenue per day decreased **5.5% YoY**, with LTL tons per day down **8.8%** and LTL revenue per hundredweight up **3.6%**[62](index=62&type=chunk) [Liquidity and Capital Resources](index=20&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is sourced from operations, cash on hand, and two main financing agreements, with net cash from operations decreasing to $336.5 million in Q1 2025 from $423.9 million in Q1 2024, a reduced 2025 capital expenditure plan of $450 million, and significant capital returned to shareholders via $201.1 million in share repurchases and $59.5 million in dividends during the quarter - The 2025 capital expenditure plan is estimated at **$450 million**, a reduction of **$125 million** from the initial plan, allocated to real estate (**$210M**), fleet (**$190M**), and technology (**$50M**)[74](index=74&type=chunk) - In Q1 2025, the company paid **$59.5 million in dividends** and used **$201.1 million for share repurchases**[71](index=71&type=chunk) - As of March 31, 2025, the company had **$214.7 million** available under its Credit Agreement and **$2.06 billion** remaining under its 2023 Stock Repurchase Program[76](index=76&type=chunk)[84](index=84&type=chunk) [Forward-Looking Information](index=26&type=section&id=Forward-Looking%20Information) This section outlines numerous forward-looking statements and associated risks, including economic downturns, inflationary pressures, competition, fuel price volatility, labor market challenges, and potential impacts from regulations and cybersecurity threats, cautioning that actual results could differ materially from these statements - The company identifies key risks including **economic factors (inflation, downturns), competition, fuel costs, labor challenges, and regulatory changes**[91](index=91&type=chunk)[93](index=93&type=chunk)[98](index=98&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company states there have been no material changes to its market risk exposures since the end of the last fiscal year, referring to its 2024 Form 10-K for a full discussion of market risk, which is primarily related to interest rate fluctuations on its variable-rate credit agreement - No material changes to market risk exposures were reported for the quarter. The primary exposure is to **interest rate changes on the Credit Agreement**, as the Series B Notes have a fixed rate[87](index=87&type=chunk)[95](index=95&type=chunk) [Item 4. Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2025, with no material changes to internal control over financial reporting occurring during the quarter - The CEO and CFO concluded that **disclosure controls and procedures were effective** as of the end of the quarter covered by the report[96](index=96&type=chunk) - No changes in **internal control over financial reporting** occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[97](index=97&type=chunk) Part II – OTHER INFORMATION [Item 1. Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings arising in the ordinary course of business, with management not believing the resolution of these matters will have a material adverse effect on its financial position, results, or cash flows, and no environmental proceedings meeting the $1.0 million disclosure threshold reported for the quarter - The company does not expect current legal proceedings, which have arisen in the ordinary course of business, to have a **material adverse effect on its financials**[100](index=100&type=chunk) - No environmental legal proceedings with potential monetary sanctions of **$1.0 million or more** are disclosed for the three months ended March 31, 2025[101](index=101&type=chunk) [Item 1A. Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024, directing investors to that filing for a comprehensive discussion of risks - There have been **no material changes to the risk factors** identified in the company's Annual Report on Form 10-K for the year ended December 31, 2024[103](index=103&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's share repurchase activity for the first quarter of 2025, with a total of 1,139,597 shares repurchased at an average price of $180.40 per share, and approximately $2.06 billion remaining available for repurchase under the active 2023 Repurchase Program as of March 31, 2025 Q1 2025 Share Repurchases | Month (2025) | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January | 312,012 | $184.61 | | February | 384,709 | $189.04 | | March | 442,876 | $169.94 | | **Total** | **1,139,597** | **$180.40** | - As of March 31, 2025, **$2.06 billion** remained authorized for repurchase under the **$3.0 billion 2023 Repurchase Program**[105](index=105&type=chunk)[106](index=106&type=chunk) [Item 5. Other Information](index=33&type=section&id=Item%205.%20Other%20Information) The company reports that no directors or Section 16 officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the first quarter of 2025 - No directors or Section 16 officers adopted or terminated a **Rule 10b5-1 trading plan** in Q1 2025[107](index=107&type=chunk) [Item 6. Exhibits](index=33&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the 10-Q report, which include CEO/CFO certifications required by the Sarbanes-Oxley Act and financial data files formatted in iXBRL - The report includes required certifications under **Sarbanes-Oxley Sections 302 and 906**, as well as **iXBRL formatted financial statements**[110](index=110&type=chunk)

Group 1 - The article emphasizes the difficulty of forecasting the economy, highlighting that predictions are inherently uncertain and based on current data and developments [1] - It mentions that the research provided by iREIT on Alpha includes a variety of investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, catering to income-seeking investors [1] Group 2 - The article includes a disclosure regarding the author's beneficial long position in specific stocks, indicating a vested interest in ODFL, FIX, and CP [1] - It clarifies that the opinions expressed are personal and not influenced by compensation from any company mentioned [1]

Financial Data and Key Metrics Changes - Old Dominion's revenue for Q1 2025 was $1.37 billion, reflecting a 5.8% decrease from the prior year, driven by a 6.3% decrease in LTL tons per day, partially offset by a 2.2% increase in LTL revenue per hundredweight [20][22] - The operating ratio increased by 190 basis points to 75.4% due to revenue decline impacting operating expenses, contributing to a 130 basis point increase in overhead costs as a percentage of revenue [23][24] - Cash flow from operations totaled $336.5 million, with capital expenditures at $88.1 million, and $201.1 million utilized for share repurchase [28] Business Line Data and Key Metrics Changes - The company experienced a 5% decline in LTL shipments per day, but improved platform shipments per hour and P&D shipments per hour [10][20] - The monthly sequential changes in LTL tons per day showed a decrease of 3.8% in January, an increase of 1.9% in February, and an increase of 4.8% in March [21] Market Data and Key Metrics Changes - The company maintained a market share of approximately 12% to 13% during the downturn, indicating resilience in a challenging environment [45] - The company noted that retail accounts for about 25% to 30% of its business, with expectations for continued growth in this segment due to the shift towards e-commerce [62] Company Strategy and Development Direction - The company remains focused on executing its long-term strategic plan, emphasizing operational efficiency and cost control to protect its operating ratio [9][12] - Capital expenditures for 2025 are expected to total approximately $450 million, a reduction of $125 million from the initial plan, reflecting a cautious approach amid economic uncertainty [25][26] - The company believes that investing through the economic cycle is crucial for long-term market share gains [24] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism based on customer feedback and improving macroeconomic indicators, although uncertainty remains regarding the overall economic recovery [13][14] - The management team highlighted the importance of maintaining superior service and disciplined yield management to support long-term growth [11][18] Other Important Information - The effective tax rate for Q1 2025 was 24.8%, a decrease from 25.6% in Q1 2024, with expectations to remain the same for Q2 2025 [28] Q&A Session Summary Question: Can you provide insights on seasonality and the potential impact of ongoing economic conditions? - Management indicated that the typical sequential increase in margins from Q1 to Q2 is based on revenue growth, which is uncertain given current economic conditions [34][36] Question: What is the breakdown of April's revenue per day and any changes in pricing environment? - Management noted that April's revenue per day is impacted by the timing of holidays, with weight per shipment dropping slightly, but they remain committed to their long-term yield management strategy [40][44] Question: How does the company view the impact of retail customers and competition in the LTL market? - Management sees retail as a significant opportunity, especially with the growth of e-commerce, and believes they can leverage their superior service to capture market share [62][65] Question: What are the expectations for capital expenditures and their relation to macroeconomic conditions? - Management clarified that the reduction in capital expenditures is a strategic decision to navigate economic uncertainty while still preparing for future growth [25][52] Question: How does the company plan to maintain pricing power amid competitive pressures? - Management emphasized their consistent approach to yield management and the importance of demonstrating value to customers to justify price increases [80][104]

Company Performance - Old Dominion Freight Line (ODFL) reported first-quarter 2025 earnings per share of $1.19, exceeding the Zacks Consensus Estimate by 3.5% but down 11.2% year over year [1] - Revenues for the quarter were $1.37 billion, surpassing the Zacks Consensus Estimate by 0.5% but decreasing 5.8% year over year [1] - Revenues from less-than-truckload (LTL) services were $1.36 billion, down 5.9% year over year, aligning with estimates [2] - Total operating expenses decreased by 3.4% year over year to $1.04 billion, while operating income fell 12.5% to $338.06 million [3] Operational Metrics - LTL weight per shipment decreased by 1.4%, while LTL revenue per shipment increased by 0.7% year over year [3] - LTL shipments and LTL shipments per day declined by 6.5% and 5%, respectively, year over year [3] - LTL revenue per hundredweight rose by 2.2% [3] Financial Position - At the end of the quarter, cash and cash equivalents stood at $97.2 million, down from $581 million at the end of the first quarter of 2023 [4] - Long-term debt decreased to $40 million from $60 million at the end of the first quarter of 2023 [4] - Capital expenditures for the quarter were $88.1 million, with an expectation of total capital expenditures for 2025 to be approximately $450 million, a reduction of $125 million from initial projections [5] Shareholder Returns - The company paid out dividends totaling $59.5 million and repurchased shares worth $201.1 million during the first quarter of 2025 [5] Industry Context - Landstar System (LSTR), a competitor in the transportation-truck industry, is expected to report its first-quarter earnings later this month, with anticipated challenges from weak freight demand and high inflationary pressure [6][7]

Financial Data and Key Metrics Changes - Old Dominion's revenue for Q1 2025 was $1.37 billion, a decrease of 5.8% year-over-year, attributed to a 6.3% decline in LTL tons per day, partially offset by a 2.2% increase in LTL revenue per hundredweight [16][18] - The operating ratio increased by 190 basis points to 75.4% due to revenue decline impacting operating expenses [18] - Cash flow from operations totaled $336.5 million, with capital expenditures at $88.1 million and share repurchase program utilizing $201.1 million [21] Business Line Data and Key Metrics Changes - LTL tons per day decreased by 6.3%, with a sequential decrease of 3.5% compared to Q4 2024 [16] - Platform shipments per hour and PND shipments per hour improved despite a 5% decline in LTL shipments per day [7][8] - Employee benefit costs increased to 38.2% of salaries and wages from 35.6% in Q1 2024 [20] Market Data and Key Metrics Changes - The company experienced a 5% decline in LTL shipments per day, but saw signs of improved demand in February and March, aligning with normal seasonality [10][16] - The company maintained a market share of 12% to 13% during the downturn [37] Company Strategy and Development Direction - The company remains focused on maximizing operating efficiencies and reducing discretionary spending to protect the operating ratio [7] - Long-term growth strategy includes balancing operating density and yield management, with a commitment to investing through economic cycles [19][20] - The company plans to defer certain capital projects and reduce new equipment purchases, expecting capital expenditures to total approximately $450 million in 2025, down from initial plans [20] Management's Comments on Operating Environment and Future Outlook - Management noted continued softness in the domestic economy but expressed cautious optimism based on customer feedback and improving macroeconomic data [9][10] - The company is focused on controlling factors within its control, such as executing its long-term strategic plan and maintaining high service levels [12][13] - Management acknowledged uncertainty in the economy but remains committed to long-term profitable growth and market share expansion [13][19] Other Important Information - The effective tax rate for Q1 2025 was 24.8%, down from 25.6% in Q1 2024, with expectations to remain the same for Q2 2025 [21] - The company achieved 99% on-time service performance and a cargo claims ratio below 0.1% [8] Q&A Session Summary Question: Can you provide insights on seasonality and potential impacts of ongoing economic conditions? - Management indicated that typical seasonality shows a 300 to 350 basis point sequential increase from Q1 to Q2, but current expectations are for a more muted increase due to economic uncertainty [27][28] Question: What is the breakdown of April's revenue performance? - Management refrained from providing detailed breakdowns due to the impact of the Good Friday holiday but noted a drop in weight per shipment and anticipated revenue per hundredweight to be in the 5% to 5.5% range for the quarter [34][36] Question: How does the company view the impact of retail customers on LTL? - Management stated that retail accounts for 25% to 30% of their business and sees opportunities for growth as e-commerce expands, emphasizing their superior service as a competitive advantage [51][54] Question: What are the expectations regarding pricing and competitive dynamics? - Management expressed confidence in maintaining pricing power and successfully achieving yield increases, despite competitive pressures [63][64] Question: How does the company plan to address potential changes in the NFC? - Management believes that changes in the NFC will not materially impact yields, as they focus on understanding costs and pricing appropriately [84]

Core Insights - Old Dominion Freight Line (ODFL) reported a revenue of $1.37 billion for the quarter ended March 2025, reflecting a decrease of 5.8% year-over-year, while EPS was $1.19 compared to $1.34 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate by 0.47%, and the EPS surpassed the consensus estimate by 3.48% [1] Financial Performance Metrics - Operating Ratio was reported at 75.4%, better than the average estimate of 76.3% by analysts [4] - LTL tons transported were 2,087 KTon, slightly above the average estimate of 2,079.28 KTon [4] - LTL tonnage per day was 33.14 Kton/D, close to the estimated 33.4 Kton/D [4] - LTL shipments totaled 2,808, exceeding the average estimate of 2,801 [4] - LTL shipments per day were 44.57 thousand, compared to the estimated 44.47 thousand [4] - LTL weight per shipment was 1,487 lbs, slightly above the average estimate of 1,484.92 lbs [4] - LTL revenue per hundredweight, excluding fuel surcharges, was $27.89, surpassing the estimated $27.84 [4] - Total revenue from LTL services was $1.36 billion, slightly above the average estimate of $1.35 billion, representing a year-over-year decline of 5.9% [4] - Total revenue from other services was $14.02 million, exceeding the estimate of $13.37 million and showing a year-over-year increase of 5.1% [4] Stock Performance - Old Dominion's shares have returned -9.3% over the past month, compared to a -6.6% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Is Old Dominion stock a buy? Investors should not expect a quick turnaround for this business. Freeman said "there continues to be uncertainty" in the economy, and with the full impact of tariffs only now beginning to hit U.S. ports, there will likely be a further slowdown in domestic trucking up ahead. The good news is Old Dominion has the wherewithal to survive a downturn, and its best-of-class operations should help it to recover along with the economy. But trading at 30 times forward earnings in the fac ...

Old Dominion Freight Line (ODFL) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.48%. A quarter ago, it was expected that this trucking company would post earnings of $1.17 per share when it actually produced earnings of $1.23, delivering a surprise of 5.13%.Over the last four quart ...

Financial Performance - Total revenue for Q1 2025 was $1,374.9 million, a decrease of 5.8% compared to $1,460.1 million in Q1 2024[2] - LTL services revenue decreased by 5.9% to $1,360.8 million from $1,446.7 million year-over-year[2] - Operating income fell by 12.5% to $338.1 million, with an operating ratio of 75.4%, up from 73.5% in the previous year[2][4] - Net income for Q1 2025 was $254.7 million, down 12.9% from $292.3 million in Q1 2024[2] - Diluted earnings per share decreased by 11.2% to $1.19, compared to $1.34 in the same quarter last year[2] Operational Metrics - LTL tons per day decreased by 6.3%, driven by a 5.0% drop in LTL shipments per day and a 1.4% decrease in weight per shipment[3] - LTL intercity miles decreased by 7.4% to 157,259 in Q1 2025 compared to 169,766 in Q4 2024[17] - LTL tons dropped by 7.8% to 2,087 in Q1 2025 from 2,264 in Q4 2024[17] - Average active full-time employees decreased by 4.7% to 21,817 in Q1 2025 from 22,891 in Q4 2024[17] - LTL shipments per day decreased by 5.0% to 44,566 in Q1 2025 from 46,931 in Q4 2024[17] Revenue Metrics - LTL revenue per hundredweight increased by 2.2% to $32.67 in Q1 2025 from $31.98 in Q4 2024[17] - LTL revenue per shipment increased by 0.7% to $485.79 in Q1 2025 from $482.24 in Q4 2024[17] Cash Flow and Capital Expenditures - Cash flow from operating activities was $336.5 million, with cash and cash equivalents at $97.2 million as of March 31, 2025[5] - Capital expenditures for Q1 2025 totaled $88.1 million, with an expected total of approximately $450 million for the year, a reduction of $125 million from the initial plan[6] Shareholder Returns - Shareholder return programs included $201.1 million in share repurchases and $59.5 million in cash dividends during the quarter[7] Asset and Liability Changes - Total current assets increased to $734,384,000 in Q1 2025 from $720,683,000 in Q4 2024, reflecting a growth of 1.0%[19] - Total liabilities rose to $1,255,970,000 in Q1 2025 from $1,246,807,000 in Q4 2024[19] - Equity decreased to $4,235,324,000 in Q1 2025 from $4,244,588,000 in Q4 2024[19] Strategic Focus - The company maintains a focus on delivering superior service and disciplined yield management to capture market share despite economic uncertainties[8]

Core Viewpoint - Analysts expect Old Dominion Freight Line (ODFL) to report quarterly earnings of $1.14 per share, reflecting a year-over-year decline of 14.9%, with revenues projected at $1.37 billion, down 6.3% from the previous year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 4.4%, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3]. Revenue and Key Metrics - Analysts estimate 'Total revenue- Other services' to be $13.37 million, showing a year-over-year increase of 0.2% [5]. - 'Total revenue- LTL services' is forecasted to reach $1.35 billion, indicating a decline of 6.5% year-over-year [5]. - The expected 'Operating Ratio' is 76.3%, up from 73.5% in the same quarter last year [5]. LTL Performance Metrics - 'LTL tonnage per day' is projected at 33.40 Kton/D, down from 35.38 Kton/D a year ago [6]. - 'LTL shipments per day' are expected to be 44.47 thousand, compared to 46.93 thousand in the same quarter last year [6]. - 'LTL revenue per hundredweight' is estimated at $32.62, up from $31.98 a year ago [6]. Additional LTL Metrics - 'LTL revenue per hundredweight, excluding fuel surcharges' is projected at $27.84, compared to $26.78 last year [7]. - 'LTL shipments' are expected to reach 2,801, down from 3,004 in the same quarter last year [7]. - 'LTL tons' are forecasted at 2,079.28 KTon, down from 2,264 KTon a year ago [8]. Shipment and Weight Metrics - The average 'LTL weight per shipment' is estimated at 1,484.92 lbs, compared to 1,508 lbs last year [8]. - 'Work days' are projected to be 63.00 days, down from 64 days a year ago [8]. - 'LTL revenue per shipment' is expected to be $483.32, slightly up from $482.24 in the same quarter last year [9]. Stock Performance - Over the past month, shares of Old Dominion have declined by 6.9%, compared to a 5.6% decline in the Zacks S&P 500 composite [9]. - Currently, ODFL holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [10].