Old Dominion Hits Double-Digit Earnings Growth for First Time In Over A Year, Shares Climb
Portfolio Pulse from Akanksha Bakshi
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) reported a 6.1% YoY revenue increase to $1.498 billion and an EPS of $1.48, both in line with or above consensus estimates. The company saw growth in LTL revenue and shipments, despite a decrease in weight per shipment. Operating income rose by 7.7% YoY, and the company returned significant capital to shareholders. Shares climbed 2.73% following the announcement.
July 24, 2024 | 3:59 pm
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Old Dominion Freight Line reported a 6.1% YoY revenue increase to $1.498 billion and an EPS of $1.48, both in line with or above consensus estimates. The company saw growth in LTL revenue and shipments, despite a decrease in weight per shipment. Operating income rose by 7.7% YoY, and the company returned significant capital to shareholders. Shares climbed 2.73% following the announcement.
The positive earnings report, with revenue and EPS beating or meeting expectations, along with a significant increase in operating income and shareholder returns, has led to a 2.73% increase in ODFL's share price. This indicates strong investor confidence and a likely short-term positive impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100