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ODFL Old Dominion Freight Line

Old Dominion Freight Line, Inc. is an American less than truckload shipping company. It offers regional, inter-regional and national LTL service. In addition to its core LTL services, the company offers logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage, container delivery and warehousing, as well as household moving services. It contracts with freight forwarding services worldwide. The company has five primary product groups: Domestic, Expedited, People, Global, Household Services and Technology. The core business segment for Old Dominion is LTL common carrier. Global offerings include full container load and less-than-container load service to the Caribbean, Europe, the Far East, Central America and South America. Old Dominion also offers household moving services, and trade show shipping as part of their expedited division to accommodate all logistical needs.

Company profile

Ticker
ODFL
Exchange
Website
CEO
Greg Gantt
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
OLD DOMINION FREIGHT LINE INC/VA
SEC CIK
IRS number
560751714

ODFL stock data

(
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Calendar

24 Feb 21
18 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 401.43M 401.43M 401.43M 401.43M 401.43M 401.43M
Cash burn (monthly) 6.32M 178.42K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 22.88M 645.58K n/a n/a n/a n/a
Cash remaining 378.55M 400.78M n/a n/a n/a n/a
Runway (months of cash) 59.9 2246.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Feb 21 Ross H. Parr Common Stock Payment of exercise Dispose F No No 212.21 218 46.26K 16,047
15 Feb 21 Adam N Satterfield Common Stock Payment of exercise Dispose F No No 212.21 258 54.75K 18,919
15 Feb 21 Christopher T Brooks Common Stock Payment of exercise Dispose F No No 212.21 223 47.32K 14,673
14 Feb 21 Ross H. Parr Common Stock Payment of exercise Dispose F No No 212.21 528 112.05K 16,265
14 Feb 21 Adam N Satterfield Common Stock Payment of exercise Dispose F No No 212.21 637 135.18K 19,177
14 Feb 21 Christopher T Brooks Common Stock Payment of exercise Dispose F No No 212.21 528 112.05K 14,896
13 Feb 21 Ross H. Parr Common Stock Payment of exercise Dispose F No No 212.21 325 68.97K 16,793
13 Feb 21 Ross H. Parr Common Stock Payment of exercise Dispose F No No 212.21 180 38.2K 17,118
13 Feb 21 Adam N Satterfield Common Stock Payment of exercise Dispose F No No 212.21 392 83.19K 19,814
13 Feb 21 Adam N Satterfield Common Stock Payment of exercise Dispose F No No 212.21 435 92.31K 20,206

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

70.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 610 589 +3.6%
Opened positions 81 82 -1.2%
Closed positions 60 40 +50.0%
Increased positions 240 230 +4.3%
Reduced positions 221 199 +11.1%
13F shares
Current Prev Q Change
Total value 16.2B 15.53B +4.3%
Total shares 83.03M 83.16M -0.2%
Total puts 424.7K 329.8K +28.8%
Total calls 249.5K 181.4K +37.5%
Total put/call ratio 1.7 1.8 -6.4%
Largest owners
Shares Value Change
Vanguard 10.93M $2.13B -1.2%
Capital Research Global Investors 8.49M $1.66B -13.0%
BLK Blackrock 8.08M $1.58B +6.3%
TROW T. Rowe Price 6.61M $1.29B +50.4%
STT State Street 4.17M $813.22M -0.6%
JPM JPMorgan Chase & Co. 1.78M $347.16M +4.0%
Geode Capital Management 1.68M $327.96M +1.8%
FMR 1.61M $314.45M -5.1%
IVZ Invesco 1.4M $273.45M +13.2%
GS Goldman Sachs 1.34M $261.05M -18.2%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 6.61M +2.21M +50.4%
Capital Research Global Investors 8.49M -1.27M -13.0%
Alpha Omega Wealth Management 794.41K -1.02M -56.1%
Norges Bank 919.65K +919.65K NEW
BLK Blackrock 8.08M +478.78K +6.3%
Two Sigma Investments 18.82K -429.96K -95.8%
Carillon Tower Advisers 378.01K +378.01K NEW
Ajo 22.55K -324.89K -93.5%
GS Goldman Sachs 1.34M -298.55K -18.2%
Millennium Management 511.48K +296.22K +137.6%

Financial report summary

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Risks
  • If we are unable to successfully execute our growth strategy, and develop, market and consistently deliver high-quality services that meet customer expectations, our business and future results of operations may suffer.
  • Changes in our relationships with significant customers, including the loss or reduction in business from one or more of them, could have an adverse impact on our business.
  • Insurance and claims expenses could significantly reduce our profitability.
  • Limited supply and increased costs of new equipment may adversely affect our earnings and cash flow.
  • We may be adversely impacted by fluctuations in the availability and price of diesel fuel.
  • Our results of operations may be affected by seasonal factors, harsh weather conditions and disasters.
  • We have significant ongoing cash requirements that could limit our growth and affect our profitability if we are unable to obtain sufficient capital.
  • A decrease in the demand and value of used equipment may impact our results of operations.
  • We are subject to various risks arising from our international business operations and relationships, which could adversely affect our business.
  • Anti-terrorism measures and terrorist events may disrupt our business.
  • We operate in a rapidly evolving and highly competitive industry, and our business will suffer if we are unable to adequately address potential downward pricing pressures and other factors that may adversely affect our operations and profitability.
  • Our customers’ and suppliers’ businesses may be impacted by various economic factors such as recessions, downturns in the economy, global uncertainty and instability, changes in U.S. social, political, and regulatory conditions and/or a disruption of financial markets, which may decrease demand for our services or increase our costs.
  • If our employees were to unionize, our operating costs would increase and our ability to compete would be impaired.
  • Difficulties attracting and retaining qualified drivers and maintenance technicians could result in increases in driver and technician compensation and could adversely affect our profitability, our ability to maintain or grow our fleet and our ability to maintain our customer relationships.
  • Our information technology systems are subject to cyber and other risks, some of which are beyond our control, which could have a material adverse effect on our business, results of operations and financial position.
  • If we do not adapt to new technologies implemented by our competitors in the LTL and transportation industry, our business could suffer.
  • Failure to keep pace with developments in technology, any disruption to our technology infrastructure, or failures of essential services upon which our technology platforms rely could cause us to incur costs or result in a loss of business, which may have a material adverse effect on our results of operations and financial condition.
  • The FMCSA’s CSA initiative could adversely impact our ability to hire qualified drivers, meet our growth projections and maintain our customer relationships, each of which could adversely impact our results of operations.
  • We operate in a highly regulated industry, and increased costs of compliance with, or liability for violation of, existing or future regulations could have a material adverse effect on our business.
  • We are subject to various governmental laws and regulations, and costs of compliance with, liabilities under, or violations of, existing or future governmental laws or regulations could adversely affect our business.
  • Healthcare legislation may increase our costs for employee healthcare and benefits and reduce our future profitability.
  • We are subject to the risks of litigation and governmental proceedings, inquiries, notices or investigations which could adversely affect our business.
  • We are subject to legislative, regulatory, and legal developments involving taxes.
  • Our principal shareholders control a large portion of our outstanding common stock.
  • There can be no assurance of our ability to declare and pay cash dividends in future periods.
  • The amount and frequency of our stock repurchases may fluctuate.
  • The market value of our common stock has been and may in the future be volatile, and could be substantially affected by various factors.
  • Our articles of incorporation, our bylaws and Virginia law contain provisions that could discourage, delay or prevent a change in our control or our management.
Management Discussion
  • Despite the difficult operating conditions created by the COVID-19 pandemic, our financial results for 2020 include Company records for profitability and diluted earnings per share.  While our annual revenue decreased slightly as a result of a decrease in our volumes, our LTL revenue per hundredweight increased as we maintained our price discipline throughout the year.  The increase in
  • our yields along with the increase in productivity allowed us to improve our variable operating costs as a percent of revenue.  We also improved our overhead costs as a percent of revenue due to our control over discretionary spending during the year.  These factors contributed to the 270 basis point improvement in our operating ratio resulting in a new Company record of 77.4% for the year.  As a result, our net income and diluted earnings per share increased 9.3% and 11.4%, respectively, in 2020 as compared to 2019.
  • Revenue decreased $94.0 million, or 2.3%, in 2020 compared to 2019. This decline reflects a decrease in LTL tons and a slight decline in our LTL revenue per hundredweight when compared with 2019. The decrease in LTL tons in 2020 was primarily attributable to a decline in shipments that was partially offset by an increase in our LTL weight per shipment. The decrease in LTL shipments was driven by the impact of a slowdown in the domestic economy associated with the COVID-19 pandemic, primarily during the second quarter of 2020.
Content analysis
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Readability
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