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Form 8-K · Current Report · Filed 2024-04-24

Old Dominion Freight Line Reports 1Q 2024 Financial Results

Old Dominion Freight Line, Inc. reported a 1.2% increase in total revenue to $1,460,073 for the first quarter of 2024, ending March 31, 2024. The company's net income rose by 2.5% to $292,304, and diluted earnings per share increased by 3.9% to $1.34. Despite economic softness, the company achieved higher revenue and earnings due to increased yield and improved operational efficiencies. Total operating expenses increased slightly, but operating income saw a 0.9% increase. The company also reported $581.0 million in cash and cash equivalents at quarter-end.

Filer
Old Dominion Freight Line Inc. ODFL · NASDAQ
Filed
Accession
0000950170-24-047274
CIK
0000878927
Signal
Medium impactIndustrials

Items reported

Item 2.02

Results of Operations and Financial Condition

Earnings Beat General Statement
Item 9.01

Financial Statements and Exhibits

Exhibits Furnished

Market reaction

Close before filing

$219.28

Next session

-10.3%

Since filing

-3.3%

Latest close

$212.14

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from ODFL reporting the same item, with the next session's move:

Exhibits (1)

About Old Dominion Freight Line Inc.

Old Dominion Freight Line Inc. is a prominent player in the less-than-truckload logistic sector in the United States. This company primarily focuses on providing comprehensive freight shipping services across a wide network, ensuring efficient and reliable transportation solutions for various industries. By leveraging state-of-the-art technology and a robust fleet, Old Dominion Freight Line prioritizes operational excellence and customer satisfaction, thereby upholding its reputation for on-time delivery and minimal claim ratios. A significant feature of Old Dominion Freight Line is its strong presence throughout North America, which it maintains through strategic service centers and a highly coordinated logistics network. The company plays a crucial role in supply chain management, enabling businesses of all sizes to optimize their operations through cost-effective freight movement. Its financial performance and market standing highlight the company's importance in the transportation sector, contributing to the smooth functioning of the economy by facilitating goods' movement across regions. Established with a solid foundation, Old Dominion Freight Line remains a vital component of the logistics industry, showcasing resilience and adaptability in a rapidly evolving market landscape.

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