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Old Dominion (ODFL) Reports Q2 Earnings: What Key Metrics Have to Say

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Old Dominion Freight Line (ODFL - Free Report) reported $1.41 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 15.3%. EPS of $2.65 for the same period compares to $3.30 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.45 billion, representing a surprise of -2.24%. The company delivered an EPS surprise of +0.76%, with the consensus EPS estimate being $2.63.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Old Dominion performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • LTL tons: 2296 KTon compared to the 2728.51 KTon average estimate based on four analysts.
  • Operating Ratio: 72.3% versus 73.25% estimated by four analysts on average.
  • LTL tonnage per day: 35.88 Kton/D versus the two-analyst average estimate of 42.92 Kton/D.
  • LTL revenue per hundredweight: $30.44 compared to the $33.33 average estimate based on two analysts.
  • Work days: 64 Days versus 63.63 Days estimated by two analysts on average.
  • LTL weight per shipment (lbs.): 1527 lbs versus 1564.5 lbs estimated by two analysts on average.
  • LTL revenue per hundredweight, excluding fuel surcharges: $25.50 compared to the $25.23 average estimate based on two analysts.
  • LTL shipments per day: 47 thousand versus 56.58 thousand estimated by two analysts on average.
  • LTL shipments: 3008 versus 3546.25 estimated by two analysts on average.
  • Total revenue- Other services: $15.37 million versus $20.36 million estimated by two analysts on average.
  • Total revenue- LTL services: $1.40 billion compared to the $1.46 billion average estimate based on two analysts.
View all Key Company Metrics for Old Dominion here>>>

Shares of Old Dominion have returned +10.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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