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Old Dominion Freight Line(ODFL) - 2024 Q4 - Annual Results
ODFLOld Dominion Freight Line(ODFL)2025-02-05 13:42

Financial Performance - Fourth quarter 2024 diluted earnings per share were 1.23,adecreaseof16.31.23, a decrease of 16.3% compared to 1.47 in Q4 2023[3] - Total revenue for Q4 2024 was 1,385.8million,down7.31,385.8 million, down 7.3% from 1,495.5 million in Q4 2023; for the full year, revenue decreased by 0.9% to 5,814.8million[3]−LTLservicesrevenueinQ42024was5,814.8 million[3] - LTL services revenue in Q4 2024 was 1,372.3 million, a decline of 7.4% year-over-year; for the full year, LTL revenue decreased by 0.8% to 5,761.1million[3]−OperatingincomeforQ42024was5,761.1 million[3] - Operating income for Q4 2024 was 334.0 million, down 20.7% from 421.0millioninQ42023;full−yearoperatingincomedecreasedby5.9421.0 million in Q4 2023; full-year operating income decreased by 5.9% to 1,544.0 million[3] - Net income for Q4 2024 was 263.1million,an18.5263.1 million, an 18.5% decrease from 322.8 million in Q4 2023; full-year net income decreased by 4.3% to 1,186.1million[3]OperatingMetrics−Theoperatingratioincreasedby410basispointsto75.91,186.1 million[3] Operating Metrics - The operating ratio increased by 410 basis points to 75.9% in Q4 2024, reflecting the impact of revenue decline on operating expenses[6] - Total operating expenses for Q4 2024 were 1,051,809, representing 75.9% of revenue, up from 71.8% in Q4 2023[17] - The operating ratio for Q4 2024 was 75.9%, compared to 71.8% in Q4 2023[21] - LTL shipments in Q4 2024 were 2,837, down 6.1% from 3,021 in Q4 2023[21] - LTL revenue per hundredweight for Q4 2024 was 32.10,aslightdecreaseof0.432.10, a slight decrease of 0.4% from 32.23 in Q4 2023[21] Cash Flow and Capital Expenditures - Cash provided by operating activities was 401.1millionforQ42024and401.1 million for Q4 2024 and 1.7 billion for the full year[7] - Capital expenditures for Q4 2024 totaled 170.9million,withfull−yearexpendituresat170.9 million, with full-year expenditures at 771.3 million; projected capital expenditures for 2025 are approximately 575million[8]ShareholderReturns−Thequarterlycashdividendwasincreasedby7.7575 million[8] Shareholder Returns - The quarterly cash dividend was increased by 7.7% to 0.28 per share, payable on March 19, 2025[10] - The company repurchased 967.3millioninsharesduringtheyear,includinga967.3 million in shares during the year, including a 200.0 million accelerated share repurchase agreement settled in Q4 2024[9] Balance Sheet - Cash and cash equivalents decreased to 108,676asofDecember31,2024,from108,676 as of December 31, 2024, from 433,799 in 2023[24] - Total assets as of December 31, 2024, were 5,491,395,slightlydownfrom5,491,395, slightly down from 5,512,393 in 2023[24] Employee Metrics - Average active full-time employees decreased to 22,032 in Q4 2024, a decline of 3.4% from 22,814 in Q4 2023[21]