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Old Dominion Freight Line(ODFL) - 2022 Q3 - Quarterly Report
2022-11-03 17:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (St ...
Old Dominion Freight Line(ODFL) - 2022 Q3 - Earnings Call Transcript
2022-10-26 20:49
Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Q3 2022 Earnings Conference Call October 26, 2022 10:00 AM ET Company Participants Drew Andersen - Senior Director, Product Management Greg Gantt - President, CEO & Director Adam Satterfield - SVP, Finance, CFO & Assistant Secretary Conference Call Participants Jack Atkins - Stephens Inc. James Monigan - Wells Fargo Securities Jordan Alliger - Goldman Sachs Scott Group - Wolfe Research Jonathan Chappell - Evercore ISI Todd Fowler - KeyBanc Capital Markets Amit M ...
Old Dominion Freight Line(ODFL) - 2022 Q2 - Quarterly Report
2022-08-03 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (State o ...
Old Dominion Freight Line(ODFL) - 2022 Q2 - Earnings Call Transcript
2022-07-27 20:26
Financial Data and Key Metrics Changes - Revenue increased by 26.4% to $1.7 billion, while earnings per diluted share rose by 42.9% to $3.30 [11] - Operating ratio improved by 280 basis points to 69.5%, marking the first time the company achieved a sub-70% quarterly operating ratio [11][25] Business Line Data and Key Metrics Changes - LTL revenue per hundredweight increased by 22.6%, and LTL tons per day rose by 2.8% [22] - Revenue per day for Q2 increased by 11.4% compared to Q1 2022, with LTL tons per day up by 0.7% and LTL shipments per day up by 1.7% [23] Market Data and Key Metrics Changes - The company reported approximately 15% to 20% excess capacity within its service center network, with plans to increase this to 25% in the long term [16] - Year-to-date revenue growth through June was over $700 million, on track to exceed $1 billion for the second consecutive year [18] Company Strategy and Development Direction - The company remains committed to expanding its service center network, viewing it as essential regardless of short-term macroeconomic conditions [17] - The focus on superior service and capacity has positioned the company to capture additional market share over the next decade [12][19] Management's Comments on Operating Environment and Future Outlook - Management noted that customer relationships have strengthened due to the company's ability to help clients manage supply chain issues [15] - The company expects to maintain disciplined control over costs while pursuing yield increases to enhance profitability [26][27] Other Important Information - Cash flow from operations totaled $427.3 million for Q2, with capital expenditures at $229.4 million [28] - The effective tax rate was 26.0% for Q2, with expectations to maintain this rate for Q3 [28] Q&A Session Summary Question: Price environment and demand moderation - Management indicated that there have been no significant requests from customers for lower rates, suggesting industry discipline remains strong [33] Question: Impact of rising fuel costs - The company aims to keep fuel surcharges neutral to the bottom line, with ongoing assessments of customer profitability [35][36] Question: Shift in market share and customer engagement - The company reported that 55% to 60% of its business is industrial, with retail making up 25% to 30%, both segments performing well [41][42] Question: Future capacity growth amid economic uncertainty - Management confirmed that they will continue to invest in network expansion, viewing it as an opportunity to gain market share [47] Question: Operating ratio trends into Q3 - A typical increase of 50 basis points from Q2 to Q3 is expected, with some unique factors potentially affecting this trend [56][59] Question: Customer inventory levels and freight demand - Customers are reportedly dealing with lower inventory levels and back orders, which may sustain freight demand [73] Question: Potential for headcount adjustments - Management expressed reluctance to reduce headcount but acknowledged that natural attrition could help manage workforce levels [112] Question: Cost inflation expectations - Wage increases are expected in September, with overall inflation anticipated to remain in the 7% to 9% range [120]
Old Dominion Freight Line(ODFL) - 2022 Q1 - Quarterly Report
2022-05-04 19:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 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 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (State ...
Old Dominion Freight Line(ODFL) - 2022 Q1 - Earnings Call Transcript
2022-04-27 21:36
Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Q1 2022 Earnings Conference Call April 27, 2022 10:00 AM ET Company Participants Drew Anderson - Senior Director, Product Management Greg Gantt - President and Chief Executive Officer Adam Satterfield - Senior Vice President, Finance, Chief Financial Officer and Assistant Secretary Conference Call Participants Jon Chappell - Evercore ISI Jack Atkins - Stephens Inc. Chris Wetherbee - Citi Scott Group - Wolfe Research Jordan Alliger - Goldman Sachs Todd Fowler - ...
Old Dominion Freight Line(ODFL) - 2021 Q4 - Annual Report
2022-02-23 21:44
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (Stat ...
Old Dominion Freight Line(ODFL) - 2021 Q3 - Quarterly Report
2021-11-03 21:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 0-19582 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ . (St ...
Old Dominion Freight Line(ODFL) - 2021 Q2 - Quarterly Report
2021-08-05 16:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (State o ...
Old Dominion Freight Line(ODFL) - 2021 Q1 - Quarterly Report
2021-05-04 20:25
FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2021 For the transition period from ________ to ________ . Washington, D.C. 20549 or Commission File Number: 0-19582 OLD DOMINION FREIGHT LINE, INC. (Exact name of registrant as specified in its charter) VIRGINIA 56-0751714 (State ...