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Old Dominion Freight Line (ODFL)

Old Dominion Freight Line, Inc. is a leading, less-than-truckload ('LTL'), union-free motor carrier providing regional, inter-regional and national LTL services through a single integrated organization. Its service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. Through strategic alliances, the Company also provides LTL services throughout North America. In addition to its core LTL services, the Company offers a range of value-added services including container drayage, truckload brokerage and supply chain consulting.

Company profile

ODFL stock data

Calendar

3 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 196.13M 196.13M 196.13M 196.13M 196.13M 196.13M
Cash burn (monthly) 22M 24.01M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 32.02M 34.95M n/a n/a n/a n/a
Cash remaining 164.11M 161.19M n/a n/a n/a n/a
Runway (months of cash) 7.5 6.7 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
8 Aug 22 Congdon John R JR Common Stock Sell Dispose S Yes No 308.35 15,000 4.63M 1,884,363
3 Aug 22 David S Congdon Common Stock Sell Dispose S Yes No 296.67 1,597 473.78K 780,815
3 Aug 22 David S Congdon Common Stock Sell Dispose S Yes No 296.21 27,157 8.04M 782,412
2 Aug 22 David S Congdon Common Stock Sell Dispose S Yes No 300.14 6,246 1.87M 809,569
18 May 22 Sherry A Aaholm Common Stock Grant Acquire A No No 0 546 0 4,552
18 May 22 Hanley Patrick D Common Stock Grant Acquire A No No 0 546 0 8,518
18 May 22 Gabosch Bradley R Common Stock Grant Acquire A No No 0 546 0 8,518
73.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 779 784 -0.6%
Opened positions 96 166 -42.2%
Closed positions 101 62 +62.9%
Increased positions 294 265 +10.9%
Reduced positions 279 251 +11.2%
13F shares Current Prev Q Change
Total value 24.2B 29.4B -17.7%
Total shares 81.78M 82.75M -1.2%
Total puts 341K 241.1K +41.4%
Total calls 245.4K 233.8K +5.0%
Total put/call ratio 1.4 1.0 +34.7%
Largest owners Shares Value Change
Vanguard 10.86M $3.24B +1.1%
BLK Blackrock 10.26M $3.06B +2.5%
Capital Research Global Investors 5.91M $1.77B -9.2%
TROW T. Rowe Price 5.79M $1.73B +10.3%
STT State Street 4.06M $1.21B -1.1%
JPM JPMorgan Chase & Co. 2.67M $796.18M -1.0%
FMR 2.34M $698.29M +11.4%
WCM Investment Management 1.96M $585.11M +1.3%
Geode Capital Management 1.92M $571.29M +0.5%
IVZ Invesco 1.54M $460.16M -2.0%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -935.06K EXIT
Capital Research Global Investors 5.91M -600.77K -9.2%
TROW T. Rowe Price 5.79M +538.52K +10.3%
Lord, Abbett & Co. 70.91K -325.88K -82.1%
Renaissance Technologies 277.74K +277.04K +39577.3%
BLK Blackrock 10.26M +253.33K +2.5%
FMR 2.34M +239.8K +11.4%
First Trust Advisors 217.51K -185.22K -46.0%
ProShare Advisors 201.22K +182.83K +994.3%
CIBC Private Wealth 1.29M +163.79K +14.5%

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.
  • Reductions in the available supply or increases in the cost of new equipment may adversely impact our profitability and cash flows.
  • Our growth may be limited by the availability and cost of third-party transportation used to supplement our workforce and equipment needs.
  • 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.
  • A decrease in the demand and value of used equipment may impact our results of operations.
  • We may be unable to successfully consummate and integrate acquisitions.
  • 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.
  • If we are unable to retain our key employees, or if we do not continue to effectively execute our succession plan, our financial condition, results of operations and liquidity could be adversely affected.
  • 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.
  • We may be adversely affected by legal, regulatory, or market responses to climate change concerns.
  • Healthcare legislation and other mandated benefits-related coverage may increase our costs for employee healthcare and benefits and reduce our future profitability.
  • We are subject to legislative, regulatory, and legal developments involving taxes.
  • The Congdon family controls 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
  • Our financial results for 2021 reflect the highest annual revenue and profitability in our Company’s history. We believe the increase in our annual revenue to $5.3 billion in 2021 was driven by the consistent execution of our long-term strategy of providing superior service to customers at a fair price, while continuing to invest in capacity and technology to support the increased customer demand for our services. Our revenue growth reflects higher shipment volumes and further improvements in our yield, both of which were supported by the strength of the domestic economy. The increased freight density in our service center network and improvement in our yield, combined with improved operating efficiencies, led to the 390 basis-point improvement in our operating ratio to 73.5%

Content analysis

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H.S. sophomore Avg
New words: agency, chapter, check, complying, consent, Court, Data, disciplined, electronically, emerging, Employer, enabled, extended, filer, Identification, injunctive, Interactive, judgment, jurisdiction, large, LLC, mark, Nasdaq, ODFL, preceding, quality, recovery, registered, registrant, relief, resolve, revised, section, shell, shorter, smaller, Title, transition, Washington
Removed: anticipated, growing, incurred, leaving, paid, receivable, remained