- Old Dominion Freight Line Inc (NASDAQ:ODFL) reported first-quarter revenue growth of 32.9% year-over-year to $1.49 billion, beating the consensus of $1.45 billion.
- Revenue growth reflects a 17.4% increase in LTL revenue per hundredweight and a 12.0% increase in LTL tons per day.
- EPS improved by 53% Y/Y to $2.60, beating the consensus of $2.39.
- The operating income increased by 50.4% Y/Y to $405.62 million, and the margin expanded by 315 bps to 27.1%.
- The operating ratio for the quarter was 72.9%, compared to 76.1% a year ago.
- Net cash provided by operating activities was $388.7 million for Q1. The company had $262.1 million in cash and equivalents as of March 31, 2022.
- Old Dominion expects its aggregate capital expenditures for FY22 to total ~$825 million.
- Price Action: ODFL shares traded lower by 0.80% at $269.92 on the last check Wednesday.
