Old Dominion Freight Line(US:ODFL) ZACKSยท2025-04-23 16:00Company 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]