Old Dominion Freight Line exceeds Q1 earnings expectations, but sees decline due to economic softness.

From Yahoo Finance: 2025-04-23 09:16:00

Old Dominion Freight Line exceeded first-quarter expectations with earnings per share of $1.19, 5 cents higher than forecast but 15 cents lower year over year. The decline was attributed to softness in the domestic economy. Revenue of $1.37 billion was down 5.8% from the previous year.

Operating ratio was 75.4%, 190 basis points worse year over year but 50 bps better than the fourth quarter. Salaries, wages, and benefits as a percentage of revenue increased 210 bps. Depreciation and amortization expenses were up 70 bps. Cost per shipment increased by 3.3%.

Old Dominion lowered full-year capex guidance to $450 million from $575 million, with $210 million for real estate, $190 million for tractors/trailers, and $50 million for IT. Shares were up 3.2% in pre-market trading. The company will host a conference call to discuss results.

Read more: First look: Old Dominion Q1 earnings