Old Dominion lowers 2025 capital expenditures view to $450M

On the company’s earnings call, executives from Old Dominion (ODFL) stated that based on “the confidence that we have in future market share opportunities, we have spent $1.5B on capital expenditures over the past two fiscal years. We have plenty of capacity within our service center network to accommodate future growth due to these ongoing investments.” The company added that it recently reevaluated each project on its 2025 capital expenditure plan and elected to defer certain projects to future periods. In addition, it has reduced the amount of new equipment that it plans to purchase this year. “We now expect our capital expenditures will total approximately $450M in 2025, which is a $125M reduction from our initial plan,” the company added.