The earnings call presented a mixed sentiment with a focus on strong service performance and pricing discipline helping to maintain yield increases despite a decline in revenue and volumes. The company remains optimistic about leveraging its investments and cost control measures, though continued challenges in managing operating expenses and the prolonged soft demand environment pose significant concerns.

Company Guidance -

Q3 2025

In the Old Dominion Freight Line's second quarter 2025 earnings call, the company reported a revenue of $1.41 billion, reflecting a 6.1% decrease from the prior year, primarily due to a 9.3% decline in less-than-truckload (LTL) tons per day. However, the company achieved a 3.4% increase in LTL revenue per hundredweight. The operating ratio increased by 270 basis points to 74.6%, with overhead costs rising by 160 basis points as a percentage of revenue. Despite these challenges, the company maintained a strong on-time performance of 99% and a low cargo claims ratio of 0.1%. Cash flow from operations was $285.9 million for the quarter, with capital expenditures totaling $187.2 million. Old Dominion also returned $223.5 million to shareholders through its share repurchase program and paid $59.0 million in dividends. Looking forward, the company expects a potential increase in the operating ratio by 80 to 120 basis points in the third quarter, depending on revenue performance amidst a challenging macroeconomic backdrop.

Stable Yield Increase Amidst Revenue Decline

Despite a 6.1% decrease in revenue to $1.41 billion due to a 9.3% decrease in LTL tons per day, Old Dominion reported a 3.4% increase in LTL revenue per hundredweight, reflecting pricing discipline.

Strong Service Performance

Old Dominion maintained a 99% on-time performance and a cargo claims ratio of 0.1%, strengthening customer relationships and market share stability.

Cash Flow and Investment

The company generated $285.9 million in cash flow from operations in Q2 and made $187.2 million in capital expenditures, maintaining investments in network, technology, and employee base.

Old Dominion Freight (ODFL) Earnings, Revenues Date & History

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ODFL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.24 / -	1.43	―	―	―
Jul 30, 2025	2025 (Q2)	1.28 / 1.27	1.48	-14.19% (-0.21)	―
Apr 23, 2025	2025 (Q1)	1.14 / 1.19	1.34	-11.19% (-0.15)	―
Feb 05, 2025	2024 (Q4)	1.16 / 1.23	1.47	-16.33% (-0.24)	―
Oct 23, 2024	2024 (Q3)	1.42 / 1.43	1.545	-7.44% (-0.11)	―
Jul 24, 2024	2024 (Q2)	1.45 / 1.48	1.325	11.70% (+0.16)	―
Apr 24, 2024	2024 (Q1)	1.34 / 1.34	1.29	3.88% (+0.05)	―
Jan 31, 2024	2023 (Q4)	1.42 / 1.47	1.46	0.68% (+0.01)	―
Oct 25, 2023	2023 (Q3)	1.46 / 1.54	1.68	-8.04% (-0.14)	―
Jul 26, 2023	2023 (Q2)	1.31 / 1.32	1.65	-19.70% (-0.32)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ODFL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$162.12	$146.46	-9.66%
Apr 23, 2025	$151.81	$152.97	+0.76%
Feb 05, 2025	$183.05	$193.01	+5.44%
Oct 23, 2024	$198.65	$187.82	-5.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.