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Old Dominion Freight Line(ODFL) - 2025 Q1 - Quarterly Results
ODFLOld Dominion Freight Line(ODFL)2025-04-23 12:48
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Financial Performance - Total revenue for Q1 2025 was 1,374.9million,adecreaseof5.81,374.9 million, a decrease of 5.8% compared to 1,460.1 million in Q1 2024[2] - LTL services revenue decreased by 5.9% to 1,360.8millionfrom1,360.8 million from 1,446.7 million year-over-year[2] - Operating income fell by 12.5% to 338.1million,withanoperatingratioof75.4338.1 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 292.3millioninQ12024[2]−Dilutedearningspersharedecreasedby11.2292.3 million in Q1 2024[2] - Diluted earnings per share decreased by 11.2% to 1.19, compared to 1.34inthesamequarterlastyear[2]OperationalMetrics−LTLtonsperdaydecreasedby6.31.34 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 31.98inQ42024[17]−LTLrevenuepershipmentincreasedby0.731.98 in Q4 2024[17] - LTL revenue per shipment increased by 0.7% to 485.79 in Q1 2025 from 482.24inQ42024[17]CashFlowandCapitalExpenditures−Cashflowfromoperatingactivitieswas482.24 in Q4 2024[17] Cash Flow and Capital Expenditures - Cash flow from operating activities was 336.5 million, with cash and cash equivalents at 97.2millionasofMarch31,2025[5]−CapitalexpendituresforQ12025totaled97.2 million as of March 31, 2025[5] - Capital expenditures for Q1 2025 totaled 88.1 million, with an expected total of approximately 450millionfortheyear,areductionof450 million for the year, a reduction of 125 million from the initial plan[6] Shareholder Returns - Shareholder return programs included 201.1millioninsharerepurchasesand201.1 million in share repurchases and 59.5 million in cash dividends during the quarter[7] Asset and Liability Changes - Total current assets increased to 734,384,000inQ12025from734,384,000 in Q1 2025 from 720,683,000 in Q4 2024, reflecting a growth of 1.0%[19] - Total liabilities rose to 1,255,970,000inQ12025from1,255,970,000 in Q1 2025 from 1,246,807,000 in Q4 2024[19] - Equity decreased to 4,235,324,000inQ12025from4,235,324,000 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]