Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Q1 2021 Earnings Conference Call April 22, 2021 10:00 AM ET Company Participants Greg Gantt - President & Chief Executive Officer Adam Satterfield - Chief Financial Officer Conference Call Participants Jack Atkins - Stevens Amit Mehrotra - Deutsche Bank Allison Landry - Credit Suisse Chris Wetherbee - Citi Jon Chappell - Evercore Todd Fowler - KeyBanc Capital Markets Ari Rosa - Bank of America Scott Group - Wolfe Research Tom Wadewitz - UBS Jordan Alliger - Gold ...

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Q4 2020 Earnings Conference Call February 4, 2021 10:00 AM ET Company Participants Greg Gantt - President & Chief Executive Officer Adam Satterfield - Chief Financial Officer Conference Call Participants Todd Fowler - KeyBanc Capital Markets Jack Atkins - Stephens Jason Seidl - Cowen David Ross - Stifel Chris Wetherbee - Citi Scott Group - Wolfe Research Ravi Shanker - Morgan Stanley Tom Wadewitz - UBS Jon Chappell - Evercore ISI Allison Landry - Credit Suisse A ...

OD·EXPEDITED OD-GLOBAL OD·PEOPLE HELPING THE WORLD KEP PROMISES. December 2020 OD·DOMESTIC OD-TECHNOLOGY Forward-looking Statements Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "intends," "estimates" or similar expressions are intended to identify these forward-looking statements. These statements are based on Old Dominion Freight Line's current plans and expectations and involve ...

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, 2019 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 ...

Financial Data and Key Metrics Changes - Old Dominion's revenue for Q4 2019 was $1.0 billion, a 1.7% decrease from the prior year, while annual revenue increased 1.6% to a record $4.1 billion [19] - Diluted earnings per share for Q4 decreased 7.7% to $1.80, while for the year, it increased 3.8% to a record $7.66 [19] - The operating ratio increased by 260 basis points due to a rise in fringe benefit costs, which accounted for 39.7% of salaries and wages in Q4 2019 compared to 30.7% in Q4 2018 [21][22] Business Line Data and Key Metrics Changes - LTL tons decreased by 4.5% in Q4, partially offset by a 2.7% increase in LTL revenue per hundredweight [20] - Excluding fuel surcharges, LTL revenue per hundredweight increased by 4%, aligning with expectations [20] - LTL shipments per day were down 3.8% sequentially, slightly below the 10-year average decrease of 3.3% [21] Market Data and Key Metrics Changes - The overall operating environment in Q4 was similar to most of 2019, with volumes performing in line with normal seasonality compared to Q3 2019 [10] - January 2020 saw a 0.2% increase in revenue per day compared to January 2019, with LTL tons per day down 3.6% [21][44] Company Strategy and Development Direction - The company plans to open six to eight service centers in 2020 to enhance capacity and support growth [15] - Long-term improvements in operating ratio depend on consistent improvements in density and yield, which require a positive macroeconomic environment [13] - The company remains committed to delivering superior service at a fair price while controlling costs [11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the industrial economy's improvement in 2020, despite political risks associated with the election year [11][122] - Positive customer feedback and stabilization in the market were noted, with expectations for gradual improvement throughout the year [32][122] Other Important Information - Capital expenditures totaled $479 million for 2019, with a commitment to ongoing expansion of the service center network [14] - The Board approved a 35.3% increase in the quarterly dividend to $0.23 per share, reflecting confidence in future growth [26] Q&A Session Summary Question: Market conditions in early 2020 - Management noted stabilization in the market with positive customer feedback, indicating cautious optimism for the year ahead [32] Question: Cost inflation and operating ratio - The increase in operating ratio was primarily due to phantom stock expenses, with expectations for normalization in future periods [33][34] Question: Tonnage trends and January performance - Tonnage trends showed improvement in December, with January seeing a slight decline but overall positive developments [42][44] Question: Phantom stock impact on 2020 - The company expects a reduction in phantom stock expenses in 2020 compared to 2019, which should provide a tailwind for growth [46][48] Question: LTL pricing stability - LTL pricing has remained stable, with expectations for continued cost-based pricing strategies [67][71] Question: Insurance claims and industry trends - The company experienced a spike in insurance rates but maintains a low historical claims ratio, indicating effective safety measures [76][80] Question: Consolidation in the LTL space - Management does not foresee significant changes in the competitive landscape, with a stable environment expected [85][86] Question: Weight per shipment trends - Weight per shipment showed slight fluctuations but is expected to stabilize and improve as the year progresses [116]

Financial Data and Key Metrics Changes - Old Dominion's revenue for Q3 2019 was $1.0 billion, a 0.9% decrease from the prior year, with a per-day decrease of 2.5% due to one extra workday [20] - The operating ratio increased to 79.3%, marking a 90 basis point increase compared to the previous year [20][26] - Earnings per diluted share decreased by 3.3% to $2.05 [21] - Cash flow from operations totaled $285.6 million for Q3 2019 [28] Business Line Data and Key Metrics Changes - LTL tons per day declined by 5.2%, partially offset by a 4.4% increase in LTL revenue per hundredweight [21] - Excluding fuel surcharges, LTL revenue per hundredweight increased by 5.8% [22] - P&D shipments per hour improved by 1.6%, while dock shipments per hour increased by 7% [10] Market Data and Key Metrics Changes - The company noted a decrease in volume due to softness in demand, with some customers prioritizing price over service [8] - LTL tons per day and shipments per day were below normal seasonality, with a 1.2% decrease compared to the second quarter of 2019 [23] Company Strategy and Development Direction - The company aims for long-term profitable growth through a balance of operating density and yield management [10] - Old Dominion continues to invest in service center capacity and technology to meet customer demands and improve operational efficiency [12][18] - The company was recognized as the Number One National LTL provider for the 10th consecutive year, validating its service performance [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic plan despite economic challenges, focusing on disciplined execution and superior service [16] - The company is seeing stability in volume trends for October, with some regained business from customers who previously sought lower prices [35][47] - Management acknowledged ongoing competition but emphasized their ability to maintain pricing and service quality [40][42] Other Important Information - The effective tax rate for Q3 2019 was 24.9%, with an expected rate of 25.8% for Q4 2019 [30] - Capital expenditures for the year are expected to total approximately $480 million, with $54.2 million returned to shareholders in Q3 [29] Q&A Session Summary Question: General business trends in October - Management noted stability in volume trends for October, with results aligning more closely with normal seasonality compared to previous quarters [35] Question: Broader yield environment and competition - The competitive environment remains intense, but the company has been able to maintain pricing and service quality [40][42] Question: Stability in volumes and customer retention - Management indicated that regaining lost customers has contributed to recent stability, although overall demand trends remain weak [47] Question: Labor costs and headcount - Labor costs were flat sequentially, with a slight decrease in headcount as the company continues to match labor with revenue trends [82] Question: Impact of GM strike and market segments - No direct impact from the GM strike was noted, but the industrial economy's slowdown has affected industrial-related customers [100][101] Question: Capital expenditures for 2020 - The company is finalizing its CapEx plan for 2020, expecting a potential decrease in equipment spending but an increase in real estate investments [108]

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, 2019 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 ...