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
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
Corporate docs
IRS number
560751714
ODFL stock data
News
Morgan Stanley Maintains Equal-Weight on Old Dominion Freight Line, Raises Price Target to $314
12 Aug 22
$1000 Invested In Old Dominion Freight Line 15 Years Ago Would Be Worth This Much Today
3 Aug 22
What 11 Analyst Ratings Have To Say About Old Dominion Freight Line
28 Jul 22
Analyzing Old Dominion Freight Line's Short Interest
28 Jul 22
Raymond James Maintains Outperform on Old Dominion Freight Line, Raises Price Target to $300
28 Jul 22
Press releases
Old Dominion Freight Line Reports Second Quarter 2022 Earnings Per Diluted Share Of $3.30
27 Jul 22
Old Dominion Freight Line Announces $0.30 Per Share Quarterly Cash Dividend
21 Jul 22
Old Dominion Freight Line to Webcast Second Quarter 2022 Conference Call
29 Jun 22
Old Dominion Freight Line Provides Update for Second Quarter 2022
6 Jun 22
Old Dominion Freight Line Announces $0.30 Per Share Quarterly Cash Dividend
19 May 22
Analyst ratings and price targets
Current price
Average target
$293.43
Low target
$265.00
High target
$314.00
Morgan Stanley
Maintains
$314.00
Raymond James
Maintains
$300.00
UBS
Maintains
$279.00
Credit Suisse
Maintains
$295.00
Wells Fargo
Maintains
$300.00
Evercore ISI Group
Maintains
$301.00
Citigroup
Maintains
$265.00
Calendar
3 Aug 22
12 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
73.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 779 |
Opened positions | 96 |
Closed positions | 101 |
Increased positions | 294 |
Reduced positions | 279 |
13F shares | Current |
---|---|
Total value | 24.2B |
Total shares | 81.78M |
Total puts | 341K |
Total calls | 245.4K |
Total put/call ratio | 1.4 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 10.86M | $3.24B |
BLK Blackrock | 10.26M | $3.06B |
Capital Research Global Investors | 5.91M | $1.77B |
TROW T. Rowe Price | 5.79M | $1.73B |
STT State Street | 4.06M | $1.21B |
JPM JPMorgan Chase & Co. | 2.67M | $796.18M |
FMR | 2.34M | $698.29M |
WCM Investment Management | 1.96M | $585.11M |
Geode Capital Management | 1.92M | $571.29M |
IVZ Invesco | 1.54M | $460.16M |
Financial report summary
?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
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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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
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
27 Jul 22
8-K
Other Events
21 Jul 22
8-K
Regulation FD Disclosure
6 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
19 May 22
8-K
Results of Operations and Financial Condition
27 Apr 22
8-K
Regulation FD Disclosure
2 Mar 22
8-K
Results of Operations and Financial Condition
2 Feb 22
8-K
Regulation FD Disclosure
6 Dec 21
8-K
Results of Operations and Financial Condition
27 Oct 21
8-K
Departure of Directors or Certain Officers
25 Oct 21
Registration and prospectus
S-8
Registration of securities for employees
18 May 16
424B5
Prospectus supplement for primary offering
1 Feb 11
S-3ASR
Automatic shelf registration
27 Oct 09
S-8
Registration of securities for employees
26 Oct 09
424B4
Prospectus supplement with pricing info
20 Jul 04
S-3/A
Shelf registration (amended)
15 Jul 04
424A
Filing
6 Jul 04
S-3
Shelf registration
9 Jun 04
424B4
Prospectus supplement with pricing info
5 Nov 02
424A
Filing
21 Oct 02
Other
UPLOAD
Letter from SEC
22 Feb 22
CORRESP
Correspondence with SEC
15 Feb 22
CORRESP
Correspondence with SEC
20 Jan 22
UPLOAD
Letter from SEC
17 Jan 22
CORRESP
Correspondence with SEC
4 Nov 21
CORRESP
Correspondence with SEC
20 Oct 21
UPLOAD
Letter from SEC
14 Oct 21
CORRESP
Correspondence with SEC
21 Sep 21
UPLOAD
Letter from SEC
13 Sep 21
UPLOAD
Letter from SEC
20 Aug 18
Ownership
4
OLD DOMINION FREIGHT LINE / JOHN R CONGDON JR ownership change
8 Aug 22
4
OLD DOMINION FREIGHT LINE / DAVID S CONGDON ownership change
4 Aug 22
11-K
Annual report of employee stock purchases
21 Jun 22
4
OLD DOMINION FREIGHT LINE / D. Michael Wray ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / LEO H SUGGS ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / Thomas A. Stith III ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / Wendy T. Stallings ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / John D. Kasarda ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / PATRICK D HANLEY ownership change
19 May 22
4
OLD DOMINION FREIGHT LINE / Bradley R Gabosch ownership change
19 May 22
Transcripts
2022 Q2
Earnings call transcript
27 Jul 22
2022 Q1
Earnings call transcript
27 Apr 22
2021 Q4
Earnings call transcript
2 Feb 22
2021 Q3
Earnings call transcript
28 Oct 21
2021 Q2
Earnings call transcript
28 Jul 21
2021 Q1
Earnings call transcript
22 Apr 21
2020 Q4
Earnings call transcript
4 Feb 21
2020 Q3
Earnings call transcript
27 Oct 20
2020 Q2
Earnings call transcript
30 Jul 20
2020 Q1
Earnings call transcript
23 Apr 20
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