Old Dominion Freight Line's LTL tons 2014-2021 YRC Worldwide's operating revenue by business segment 2014-2019 YRC Worldwide's total shipments by business segment 2014-2019 The financial impact of the strike forced the company to lay off many of its office workers and sell of its operating authority for a major route between Richmond and Norfolk to Davidson Transfer and Storage to maintain enough capital to continue operations. [18], Between 1969 and 1979, the company acquired several competing trucking lines. UPDATE 1-Ukraine attacks occupied Melitopol, Russian side says two killed, Yahoo Finance Presents: Andy Cohen, TV Host, Producer, & Author, Andy Cohen reveals the 'secret sauce' to 'The Real Housewives' success, Saudi Arabia Remains on Track to Be Fastest-Growing G-20 Economy, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap. I-70 Indiana. [18], David Congdon, grandson of the company's founders, was named president and COO in 1997. OD provides complete nationwide coverage across all regions of the United States. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. Moreover, the company's on-time performance improved from 94% in 2002 to 99% in 2022. (pg26) Why Railroads will never change (pg28) view ppt presentation April 25, 2022 - "Intermodal News Report" covering: IMC/FF/NVO/3PL/Draymen news; update on the Before we dive into current events, let's discuss the dividend. }); Peninsula Truck Lines and Old Dominion Freight Line received top honors from consulting and research company Mastio. Usually, but in late 2022, not always. The focus is on dividend growth instead of a high yield, and sky-high capital returns have kept the dividend yield from rising. To read this article on Zacks.com click here. Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. Threads 3.3K Messages 44.8K. UPDATE 1-Ukraine attacks occupied Melitopol, Russian side says two killed, Yahoo Finance Presents: Andy Cohen, TV Host, Producer, & Author, Andy Cohen reveals the 'secret sauce' to 'The Real Housewives' success, Saudi Arabia Remains on Track to Be Fastest-Growing G-20 Economy, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap. If current conditions continue, we might be looking at an attractive entry in 2023, before the Fed is eventually forced to pivot for real. Nov 10, 2022 2:00PM EST. Copyright 2022, All Rights Reserved, FreightWaves, Inc, LTL survey ranks Peninsula No. We have put together training videos to better help you navigate our new, intuitive designed website. For now, however, tonnage is down and pressure on pricing is rising. The company is gaining an increasing competitive edge over companies that need to prioritize financial health and/or the ones that aren't even profitable yet. Created by Glen A. Larson and Christopher Crowe, the series stars Greg Evigan.The series was produced when the CB radio and trucking craze had peaked in the United States, following the 19741976 television series Movin' On, the number one song In todays current business environment, having a trusted shipping partner is critical, so we take great pride in the fact that shippers recognized OD as the best., More FreightWaves articles by Todd Maiden. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. In addition to its core LTL services, the company offers logistics and household moving services. The following year, it began a partnership with Globe Freight Airline, Inc. where ODFL distributed airfreight through Virginia. We believe your business is an extension of ours, meaning were always working to develop custom service plans around your unique needs. This could worsen going into 2023, pressuring margins and revenues. Unfortunately, total LTL tonnage was down 8.6%. [5], Old Dominion Freight Line, Inc. traces its origins to 1934 when husband and wife Earl Congdon, Sr. and Lillian Congdon (ne Herbert) founded the company with a single straight truck running between Richmond and Norfolk, Virginia. By the end of that year, ODFL was operating six tractor-trailers and 12 straight trucks and shortly thereafter moved to a dedicated 7-bay facility. It primarily focuses on increasing shipments and tonnage growth in order to generate higher revenues.The company faces primary competition from regional, inter-regional and national LTL carriers. A big part of my philosophy is to incorporate as much macro as possible in my articles as it helps investors to make their own decisions and to be on top of all major developments. For the previous quarter, the company was expected to post earnings of $2.37 per share and it actually produced earnings of $2.60 per share, delivering a surprise of 9.70%. Old Dominion Freight Line set records for revenue and profitability during the second quarter of 2022, the company reported July 27. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); and the Bear is an American action comedy television series which aired on NBC from February 10, 1979, to May 9, 1981. The top 5 for national carriers included Estes, ArcBest (NASDAQ: ARCB), Saia (NASDAQ: SAIA) and FedEx Freight (NYSE: FDX), in that order behind Old Dominion. Based in Richmond, VA, Todd is the finance editor at FreightWaves. This also means that there is still a lot of room to grow organically. [18], In 1991, the company became a public company via an initial public offering. Quarter-to-date, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased by 17.3% and 8.6%, respectively. While ODFL continues to benefit from its superior business model, volumes are down as economic demand has gone soft. Please disable your ad-blocker and refresh. Changes Go Into Effect On December 17, 2022. There's good news and there's bad news. 1 overall, Old Dominion top national carrier. With that in mind, let's take a look at Old Dominion Freight Line's main business drivers. Its time to focus on navigating the supply chains of the future. googletag.cmd.push(function() { Everything Trucking & BS Forum. Autocar delivered its first battery-electric terminal tractor to Old Dominion Freight Line, one of the largest less-than-truckload motor carriers in North America. On the third-quarter call in late October, Old Dominion's management was optimistic that tonnage trends could reverse by the spring. [14], Following the strike, ODFL was able to recover and in 1947 was operating 16 straight trucks, 25 tractors, and 35 trailers and was profitable. 582,457 26-TNT Logistics 572,291 27-Carriers 565,440 29-Prime, Inc. 559,153 Please disable your adblocker or click the green AD FREE button to support Truckingboards. So, if you had invested in Old Dominion Freight Line a decade ago, you're probably feeling pretty good about your investment today. This was caused by 7.3% lower LTL shipments per day and 1.4% lower LTL weight per shipment. The company is aggressively investing in capabilities that now come with strong pricing power and superior service quality. At least when it comes to Old Dominion Freight Line, a trucking company that despite its name is not located in Virginia. But, with that space lacking a loading dock, they moved again in 1936 to a facility with two truck bays. Canada ONT Ontario - North Bay 1950 - T.M. It noted the company fails to take market share for three to five consecutive quarters during downturns and the 2022 third quarter was the third straight period in which the carrier missed its share-gain mark. Our integrated structure allows us to offer our customers consistent, high-quality service from origin to destination, and we believe our operating structure and proprietary information systems enable us to efficiently manage our operating costs. Always take care of your own risk management and asset allocation. There are many reasons the average tenure for OD drivers is 9+ years, and our commitment to your work/life balance is on the top of the list as 95% of our drivers are home every night. Information Chains: Disentangling Roadblocks to Digitalization in Logistics. C $3.00 + C $1.75 shipping. Old Dominion; BlueWave Trucking; Global Auto; Omaha Truck Center; Rapid Global Logistic; GreyJade Trucking Co. Upperhill Trucking; Only Logistic; Altius Aest Trucking; Pride Transport Inc. Eagle One Delivery; Jet Delivery Systems; Fast And Easy Trucking; Flare Logistics Trucking Inc. Tuscon freight; On The Road Again; Interstate; Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Just buy it and forget about it. I'm looking to buy Old Dominion Freight Line below $240. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. Ive inspired men to get their CDL. View reports, export data, get rates, schedule a shipment and much more. That number has improved to 11.4% in 2021. It also faces secondary competition from truckload carriers, small package carriers, airfreight carriers and railroads.Owing to the betterment in scenario in 2021, total revenues increased 30.9% year over year to $5.26 billion. Moreover, FreightWaves highlighted the struggles when it comes to growing the market share. An electric-vehicle production facility in South Carolina could perhaps connect with a textile maker in North Carolina, who then might be able to move from making clothing to making upholstery for an electric vehicle or, potentially, a cloth to cover wind turbines. As part of our team, youll earn superior pay and benefits with the average annual salary of $86,000. The consensus estimate has moved up as well.Want the latest recommendations from Zacks Investment Research? You must log in or register to post here. The bad news is that ODFL's dividend yield is very low. New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. In 1957, Old Dominion extended its operations to most major markets in North Carolina and southern Virginia. We will collect and use your personal information (which may include cookies we collect through your use of realestate.com.au and our other websites) to give you a personalised user experience (e.g. Whether we're talking about, semiconductors or building materials, chemicals, whatever. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. If the company is indeed doing close to $1.0 billion in annual free cash flow going forward, we're dealing with a 3% FCF yield. Loaded & Rolling (Enterprise Fleet News/Analysis), Bay and Bay sells tank trucking unit to Foodliner parent, TA Services adds West Coast brokerage in latest deal, XPO board approves RXO spinoff, eyes Nov. 1 distribution. Old Dominion Freight Line is one of my favorite dividend growth stocks, thanks to its ability to dominate the LTL industry while generating high free cash flow. Trucking news and expert analysis of trucking companies across the United States, from trucking industry news about such leading freight carriers as Swift Transportation and Old Dominion Freight Line to smaller regional trucking firms plying various cross-border and domestic routes.. Moreover, the maintenance centers are responsible for performing operations that are related to the routine and preventive maintenance as well as repairs of the companys equipment.Old Dominions infrastructure allows for smoother freight transportation offering next-day and second-day service through each of its regions across the United States. First of all, using close to 11,000 trucks, ODFL operates in 48 states, where it owns 255 service centers to connect customers. We will update you on new newsroom updates. googletag.pubads().collapseEmptyDivs(); Everything Trucking & BS Forum. I see a lot of potential there, and I think we're only at the beginning of it being realized. Less-than-truckload demand continues to moderate off all-time highs at a faster-than-expected pace. While I still believe that to some extent, I have changed my mind a little bit. View all your important shipping documents and ODFL tools in one customizable dashboard. That's mainly based on high capital expenses (a lot of equipment is needed), labor shortages, very low entry barriers for new competitors, and other inflationary factors like fuel and risks of shortages. From standard LTL to expedited shipping and everything in between, we offer a range of freight solutions to meet any business need across every region of the United States and North America. For the non-profit organization, see, Learn how and when to remove this template message, "Old Dominion Freight Line, Inc. 2018 Form 10-K Annual Report", "Old Dominion Freight Line, Inc. 2020 Annual Report", "Change in leadership planned at Old Dominion", Federal Motor Carrier Safety Administration, National Motor Freight Traffic Association, Glossary of the American trucking industry, https://en.wikipedia.org/w/index.php?title=Old_Dominion_Freight_Line&oldid=1111589072, Pages with non-numeric formatnum arguments, Articles lacking reliable references from October 2021, Articles containing potentially dated statements from December 2020, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0. Business data for Old Dominion Freight Line: This page was last edited on 21 September 2022, at 20:18. With more than 250 service centers, OD is near you and can support your local needs quickly. }); Mastio also received roughly 11,000 qualitative responses from open-ended questions to shippers, such as which carriers they would avoid and what carriers could do to improve service. The reason for the change was that it had purchased vehicles from International Harvester which were delivered dark green. Manufacturing in the United States is poised to rebound as companies from Asia and Europe are relocating production back to North America. And if youre new to the open road, well provide you with 6 weeks of paid training. Its who we are. Remainder of the top line was generated from non-LTL revenues.Notably, LTL tons increased 15.4% year over year with LTL shipments rising 18.5%. Truckingboards LTL Trucking Forum. C $0.99 While ODFL remains in a good spot to use pricing to its advantage, the economy is softening. The facility was shared with Overnite Transportation with the two bays split between them. If that happens, I'm happy to step up and buy. That's a good result based on an increase in LTL revenue per hundredweight. window.googletag = window.googletag || {cmd: []}; When you begin to nudge that a bit with industrial policy-as we are seeing with the Biden administration's push around things like electric vehicles-suddenly you start to be able to connect the dots. From the extra care we use when loading your shipment to our state-of-the-art tracking technology, we pride ourselves on providing an excellent customer experience throughout every step of the promise. Country (also called country and western) is a genre of popular music that originated with blues, church music such as Southern gospel and spirituals, old-time, and American folk music forms including Appalachian, Cajun, Creole, Hawaiian, and the cowboy Western music styles of New Mexico, Red Dirt, Tejano, and Texas country. Create an account to seamlessly manage your shipments, gain access to additional account management tools, and learn the power of keeping promises firsthand. To us, your business is our business, and we make ourselves readily available as true shipping partners. Please. Moreover, LTL weight per shipment, excluding fuel surcharges, increased 6% in 2021.Moreover, the companys fiscal year coincides with the calendar year. Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. From Import/Export Compliance to Global Air Freight Service, OD supports your international freight shipping needs. To read this article on Zacks.com click here. On December 5, the company updated investors on its operations. Instead of repainting the new trucks to match its older trucks, ODFL chose to repaint the older trucks to match the new ones. This means it costs less than 70% of total revenues to operate the company. These service centers allow the company to offer a wide menu of services, including regional, inter-regional, and long-haul LTL, time-sensitive and appointment shipments, container drayage, truckload brokerage, and international LTL (Mexico and Canada). Key decision-makers from major shippers regularly using LTL carriers were polled on their opinions on a number of items. Supply Chain Initiative. This in turn places the company for future growth prospects.The company constantly works towards improving customer service by increasing on-time performance and reducing cargo claims. We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. Old Dominion was fourth overall for the second year in a row. Podcasts. Stay informed Subscribe to our email newsletter. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of By 1944, the company operated 14 straight trucks, 18 tractors, and 25 trailers with 74 employees. Supply Chain Initiative. When time is of the essence, OD Expedited Services will get your freight where you need it, when you need it. LTL service revenues were up 30.7% and accounted for bulk of the top line (98.6%). B. ODFL | Class action lawsuit. Moreover, high operating expenses pose a threat to Old Dominion's bottom line. I almost got the chance in September, yet the stock took off to $320. [13], The company converted a disused lumber mill into a trucking terminal in 1942 to support the volume of business they were doing during the war. Total operating expenses rose 18.7% in the first nine months of 2022 due to a rise in costs pertaining to salaries, wages & benefits among other factors.. Over the past four weeks, shares have rallied 17.66%, and there have been 7 higher earnings estimate revisions in the past two months for fiscal 2022 compared to none lower. Melguizo, Tatiana, 2008, Quality Matters: Assessing the Impact of Attending More Selective Institutions on College Completion Rates of Minorities, Research in Higher Education, 49: 214236. So pick up the phone, or follow these three simple steps to start working with the #1 National LTL Carrier as awarded by Mastio & Company 13 years running. Over the past several years, the company has opened numerous service centers which have increased capacity across its service network. The company is a total return star, which is now running into economic weakness. Old Dominion Freight Line's Business In-Depth. The firms less-than-truckload rankings for 2022 showed Peninsula was rated the highest overall for value and loyalty, with Old Dominion receiving the highest marks of any national carrier. The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. [14], ODFL was one of many unionized carriers impacted by a Teamsters strike that lasted over 10 weeks in 1946. [12], During World War II, ODFL expanded outside Virginia beginning in 1941 by buying the trucks of New Dixie Transfer and leasing New Dixie's CPCN for a year. This shows how resilient the company is, even in the current business environment. It is worth considering Old Dominion Freight Line (ODFL), which belongs to the Zacks Transportation - Truck industry. The non-GAAP payout ratio is just 9.4%. For more than 85 years, weve been helping the world keep promises. I've never been a fan of trucking companies in the past. Old Dominion is part of the U.S. Environmental Protection Agency's SmartWay Transport Partnership, a collaboration between freight shippers, carriers, and logistics companies to voluntarily achieve certain environmental standards around fuel efficiency and reduced emissions. Today, you can download 7 Best Stocks for the Next 30 Days. How much a stock's price changes over time is a significant driver for most investors. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Now, there's another thing I'm closely watching. The only other type of shipments ODFL was allowed to carry were interline shipments, transiting freight along this route on behalf of other carriers who did not possess a CPCN for that route. Fill out our quick forms to receive your freight shipping estimate. The company is failing to grow tonnage as macro weakness is hitting customers. googletag.pubads().collapseEmptyDivs(); Read the latest news from Old Dominion Freight Line. Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries. Despite a standard deviation of 30%, ODFL shares also outperformed the market on a volatility-adjusted basis (Sharpe/Sortino ratios). The company operates multiple service and maintenance centers.While bulk of the centers is owned by the company, the remaining are leased. Improvement in the operating ratio (operating expenses as a percentage of revenues), owing to higher revenues, is encouraging. New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. The trucking industry serves the American economy by transporting large quantities of raw materials, works in process, and finished goods over landtypically from manufacturing plants to retail distribution centers. We'll talk a lot more about this in the future, but for now, it's definitely something that will benefit ODFL on a long-term basis. Anyone can make a promise, but only business leaders can keep them. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. A promise backed by every Old Dominion employeefrom sales and customer service to dockworkers and drivers. Old Dominion has an Earnings ESP of +0.37% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. The company's next earnings report is expected to be released on October 26, 2022. Contact your local OD team to understand the shipping options near you. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. McHugh, Peter, 2005, Shared Being, Old Promises, and the Just Necessity of Affirmative Action, Human Studies, 28 (2): 129156. This includes my latest thesis, based on the return of supply chains in the United States. Investors should note that this return excludes dividends but includes price increases. The company is failing to grow tonnage as macro weakness is hitting customers. This Friday, were taking a look at Microsoft and Sonys increasingly bitter feud over Call of Duty and whether U.K. regulators are leaning toward torpedoing the Activision Blizzard deal. Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. Trucks are also used in the construction industry, two of which require dump trucks and portable concrete mixers to move the large amounts of rocks, dirt, concrete, Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, "Old Dominion's revenue growth for the first two months of the fourth quarter reflects the ongoing improvement in our yield, which more than offset the decrease in volumes. Just before the union called the end of the strike, ODFL drivers in Richmond decided to leave the union and return to work. I have no business relationship with any company whose stock is mentioned in this article. Finding cost savings, not In the 1940s, ODFL switched from a navy blue and red livery for its tractors to the dark green color which it continued to use throughout its history. Old Dominion Freight Line, founded in 1934, is a leading LTL company. That may sound like a lot, but it's extremely low. In November, revenue per day increased by 7.3%. WebOpportunity Zones are economically distressed communities, defined by individual census tract, nominated by Americas governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. Coming from a woman who drives trucks to a woman whos thinking about driving trucks, I say, just go for it! Thank you to @CaptainCapitalist for providing a comment that perfectly describes investing in Old Dominion Freight Line, Inc. (NASDAQ:ODFL): Love the business, it's always expensive. The team had a great time connecting, networking, and attending educational sessions. This means the 0.4% dividend yield is covered and likely to continue to rise rapidly. The services are inclusive of ground and air expedited transportation, apart from consumer household pickup and delivery through a single integrated organization. You are using an out of date browser. Now, the company is trading at 15.7x 2023E EBITDA of $2.0 billion. Biden administration's push around things like electric vehicles. Also, once the ball starts to roll, the U.S. is in a terrific place to boost re-shoring benefits even more. It may not display this or other websites correctly. That makes sense, as the company has "never" disappointed. Connor D. Wolf | Staff Reporter July 27, 2022 Old Dominion Freight Line is hands down my favorite less-than-truckload ("LTL") company. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. On Seeking Alpha, I discuss a wide range of topics including long-term dividend (growth) investments, mid-term trading opportunities, commodities, rates, and related. In comparison, the S&P 500 gained 191.94% and the price of gold went up -0.70% over the same time frame. ODFL could have been included as a fourth stock as LTL plays a big role in everything related to industrial production, inventory management, and longer-distance transportation. Viewed throughout the industry as the most comprehensive service-oriented survey, the 18th edition of Mastios annual study used feedback from more than 1,600 telephone interviews conducted from June to September to compile this years rankings. Also, I'm on Twitter (@Growth_Value_) in case you want to say hi! [7] The company initially operated with Earl as its only driver and Lillian both running business operations from their home and serving as an alternate driver if Earl was unavailable. Founded in 1934 and located in Thomasville, North Carolina, ODFL has become the largest pure-play LTL trucking company in the United States. ODFL has never been really cheap (hence I started this article with a fitting quote). While pricing remains strong, demand softness is set to worsen going into 2023. Unfortunately, its yield is low and the valuation is still somewhat lofty. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies. Fourth-Quarter Trucking Report: Building Drayage Resilience. As I already briefly mentioned, this is bearing fruit. This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. This includes my latest thesis, based on the return of supply chains in the United States. Old Dominion's efforts to add shareholder value are impressive. That could change as cracks started to appear. Anyone know anything about this. ODFL also received broader authorization to run routes within Virginia and acquired an additional route from the Wilson Trucking Co. in 1942. googletag.enableServices(); googletag.pubads().enableSingleRequest(); Mastio said over-the-phone screening provides higher response rates and more accurate results.. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Unfortunately, I don't own it. Old Dominion Freight Line, founded in 1934, is a leading LTL company. While pricing remains strong, the company isn't growing its market share anymore. Palmer Jewellers Advertising Cover. That's another reason why these numbers are so impressive. It's why I have invested a big part of my capital in railroads. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. It has won the Mastio Quality Award for 13 consecutive years. [18][19], As of 31December2020[update], ODFL had 19,779 full-time employees, all non-union, and operated 9,288 tractors and 244 service centers, 2017 of which are owned by the company with the remainder leased.[4]. Hence, it explains high market share gains. Of 184 operators classified as LTL freight carriers, 23 received ratings and feedback sufficient enough to be included in the report. Most smaller operators struggle to be profitable. The service centers are endowed with responsibility pertaining to the pickup and delivery of freight locally. 22-Old Dominion Freight Line 667,531 23-Averitt Express, Inc. 625,948 24-North American Van Lines 590,176 25-Covenant Transport. googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); The average surprise for the last two quarters was 8.08%. Threads 22.7K Messages 139.6K. Solving your complex shipping problems is what we live for. I have no business relationship with any company whose stock is mentioned in this article. B. ODFL | Class action lawsuit. With that said, there are reasons to believe that we could get a better entry in 2023. Looking ahead, analysts are expecting more upside for ODFL. For the last reported quarter, Old Dominion came out with earnings of $3.30 per share versus the Zacks Consensus Estimate of $3.10 per share, representing a surprise of 6.45%. That valuation is not a dealbreaker. Global Shipping Report: Analyzing the 2023 Outlook. Today at 8:04 PM; To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. But then again, ODFL is a total return investment, it's not great for investors depending on a decent yield. Old Dominion Freight Lines (NASDAQ: ODFL) November update showed tonnage was down 8.6% year over year (y/y) during the month, following a 6.5% decline in October.Shipments per day were down by a similar amount in each month but weight per The company has more cash than gross debt. For a better experience, please enable JavaScript in your browser before proceeding. However, high capital expenditures might be an overhang. googletag.enableServices(); In some regions, its market share has more than doubled since 2010. What if you'd invested in Old Dominion Freight Line (ODFL) ten years ago? Additional disclosure: This article serves the sole purpose of adding value to the research process. With that said, all of these numbers translate into one major thing: outperformance. Global offerings include full container load (FCL) and less-than-container load (LCL) service to the Caribbean, Europe, the Far East, Central America and South America. That said, cracks are starting to appear. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. Today, you can download 7 Best Stocks for the Next 30 Days. I am not receiving compensation for it (other than from Seeking Alpha). The trucking industry is usually a reliable early indicator of any economic slowdown affecting the economy. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. The survey ranks carriers on a variety of metrics like on-time pickup and delivery, damages, claims handling, accurate weighing, pricing, transit times, billing, carrier responsiveness, technology and problem resolution. I do not expect pricing and tonnage to bottom until the ISM index bottoms. The cargo claims ratio declined from 1.5% in 2002 to just 0.2% in 2022. The sector median is 23%. Greg C. Gantt serves as president and CEO. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. That could likely be towards the end of the first half of 2023. WebPersonal Collection Statement. Threads 22.7K Messages Old Dominion Freight Line. 1 in 24 of the 28 categories. }); googletag.cmd.push(function() { Capiex for 2022 are likely to be $720 million compared with $550.1 million in 2021. The table below shows tonnage data for the month of October. Other ODFL drivers remained unionized. For Old Dominion, estimates have been trending higher, thanks in part to this earnings surprise history. Dec 1, 2022 2:00PM EST. Thank You. 1 overall and the 13th straight time Old Dominion (NASDAQ: ODFL) was selected as the top national carrier. Its popularized roots originate in the Southern and The company is consistently investing as much in real estate as it invests in trucks and trailers, allowing it to run a highly efficient network of distribution centers. [3], The company has five primary product groups: Domestic, Expedited, People, Global, Household Services and Technology. googletag.pubads().enableSingleRequest(); Especially for long-term investors. These included wet leasing a significant portion of their fleet to the Manchester Board and Paper Co. in 1936 and unsuccessfully attempting to lease operating authority from Carter Brothers Express Lines in 1939 to expand ODFL's routes. Click to get this free reportOld Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. The trucking industry landscape both for asset and non-asset companies We believe the growth in demand for our services can be attributed to our ability to consistently provide a superior level of customer service at a fair price, which allows our customers to meet their supply chain needs. 150-year-old shipwreck from gold rush discovered off the coast of Washington state Even during the Great Financial Crisis, it made great progress. I am not receiving compensation for it (other than from Seeking Alpha). Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. The company operates more than 5,800 tractors and more than 22,500 trailers. I'm a Buy-Side Macro Expert/Financial Markets Analyst. With improved freight market conditions, rise in LTL (Less-Than-Truckload) shipments is driving the top line. Learn the best way to ship your freight, effectively and efficiently. This is based on its $31.4 billion enterprise value, consisting of its $32.0 billion market cap and $630 million in 2023E net cash (negative net debt). Find service centers near you, view transit times, maps, and connect directly with your service center manager. Dec 14, 2022 10:00AM EST. Personal Collection Statement. Easily follow your shipment with our state-of-the-art tracking tools. Threads 22.7K Messages Old Dominion Freight Line. WATCH: 1-year-old girl accidentally locked inside car frees herself under mom's direction The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. A $1000 investment made in November 2012 would be worth $14,306.46, or a 1,330.65% gain, as of November 15, 2022, according to our calculations. It also helps that the ODFL balance sheet is extremely healthy. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of realestate.com.au and third Find information for investors and stockholders, including quarterly updates, events, stock, and OD financial information. Threads 3.3K Messages 44.8K. Five years later, the company relocated its headquarters to High Point, North Carolina, in 1962 and merged with Bottoms-Fiske trucking company. The company has figured out how to beat competitors in a highly competitive LTL market. We're moving supply chains back in the country, so we're not just talking about goods going to the end user but stuff needs to get to the manufacturing plant as well. In a separate news release, Old Dominion said it ranked No. Rservez des vols pas chers sur easyJet.com vers les plus grandes villes d'Europe. Shippers and logistics professionals consistently responded with OD as their top carrier when asked about qualities such as shipments picked up and delivered when promised, delivered with no damages or shortages, carrier trustworthiness, consistency in transit times, and problem resolution, the statement read. Our team works hard every day going above and beyond for our customers, Greg Gantt, president and CEO of Old Dominion, said. Its what drives us. While pricing remains strong, the company isn't growing its market share anymore. Opportunity Zones are economically distressed communities, defined by individual census tract, nominated by Americas governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. Trouvez aussi des offres spciales sur votre htel, votre location de voiture et votre assurance voyage. My target is a price below $240. [10], Through the late 1930s, the company made several moves to remain solvent under regulation. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); Find answers to your frequently asked questions, and stay up-to-date with shipping terms and tips. Moreover, the payout ratio remains extremely low. OD's single-source operation helps you manage your domestic LTL freight shipping needs with confidence. It may not have been easy to hold on to ODFL for all that time, but if you did, how much would your investment be worth today? Ive inspired women to get their CDL. Old Dominion remains one of my favorite dividend growth stocks. I believe that we will get better entry prices in 2023, allowing us to benefit from Old Dominion Freight Line's ability to generate value and secular supply chain re-shoring. This was the second consecutive year Peninsula was No. [15], After Earl Congdon died in 1950, Lillian Congdon assumed the presidency[16][17] and was joined by sons Earl, Jr. and Jack. Looking for info on Old Dominion Linehaul, New Kansas City (Bonner Springs,KS) Terminal. Old Dominion Freight Line was founded in 1934, and it has built up quite the reputation (and average annual revenue) for itself. If you have an ad-blocker enabled you may be blocked from proceeding. ODFL shareholders currently enjoy a $0.30 per share per quarter dividend. Please disable your adblocker or click the green AD FREE button to support Truckingboards.We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. If you take pride in your work and care about doing things right, then picture yourself at Old Dominion. B.J. down my favorite less-than-truckload ("LTL") company. Not only that, but it is also the most efficient company with an operating ratio of less than 70%. Want the latest recommendations from Zacks Investment Research? Our convenient digital tools help you schedule a pickup, track your shipment, review your shipping documents and more, all from our easy-to-use digital hub. C $0.99 + C $4.00 shipping. We offer safe, convenient, and dependable solutions for full truckload freightincluding dry van, flatbed, refrigeration, door-to-door, rail, and other special services. [6] The name is a reference to a common nickname for the Commonwealth of Virginia, the "Old Dominion". Theyll be happy to chat. Also in 1942, Earl, Sr. and Lillian became 50-50 partners in the business officially, though through the late 1940s Lillian stepped back from day-to-day operations as the company hired additional staff. This was the second consecutive year Peninsula was No. Canada ONT Ontario - Garden Island 1908 Split Ring Cancel Card - Town Postmark. However, getting a good entry point for ODFL is key. WebTruckingboards LTL Trucking Forum. We will collect and use your personal information (which may include cookies we collect through your use of realestate.com.au and our other websites) to give you a personalised user experience (e.g. The most recent hike was announced in February of this year when the dividend was hiked by 50%. Being a female driver is definitely an experience. Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping With the deregulation of the trucking industry in the 1980s, Old Dominion extended its service area into Florida, Tennessee and California and also started serving the major markets of Chicago and Dallas. Unfortunately, I don't own it. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. The program will feature the breadth, power and journalism of rotating Fox News anchors, reporters and producers. With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss. Even if a suppliers plant is open and operating, trucking restrictions are in effect. This facility also housed the company's offices and its first maintenance shop. Second place on our list goes to the less-than-truckload shipping company Old Dominion Freight Line. FOX FILES combines in-depth news reporting from a variety of Fox News on-air talent. *If* economic conditions continue to worsen, I would not bet against a decline to $220. googletag.cmd.push(function() { In the first nine months of 2022, ODFL paid dividends of $101.4 million and repurchased shares worth $1.1 billion. This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. More Webcasts. Women In Trucking Association's Conference & Expo in Dallas, TX. JavaScript is disabled. What started with de-risking efforts in China after the pandemic is now turning into a big trend fueled by companies who want to be closer to the North American consumer, government initiatives to support semiconductors and EV production, and overseas issues like the European energy crisis and regulatory headwinds. We believe the year-over-year decrease in volumes is primarily due to continued softness in the domestic economy, as customer demand for our superior service has remained consistently strong. in the News: November 7, 2022 - "Intermodal Update - Part 2" now posted covering: Drayage Demand Declining (pg7) Drayage Trucking Stats (pg18) Drayage Driver Bill of Rights (pg21) Where did the Chassis go? With the deregulation of the trucking industry in the 1980s, Old Dominion extended its service area into Florida, Tennessee and California and also started serving the major markets of Chicago and Dallas. An attempt by employees to unionize under the Teamsters Union was unsuccessful in 1939 after a 3-month strike. It generates high free cash flow, which it can invest in its company. I wrote this article myself, and it expresses my own opinions. 500 Old Dominion Way, Thomasville, NC 27360. As a comparison, a lot of railroads are currently operating with ORs in the low 60% range. With an industry-leading on-time record and low claims rate, our premier LTL shipping service ensures your shipment is delivered on-time and damage-free. As a result, the company has become a fast-growing company with high free cash flow, a healthy balance sheet, and aggressive dividend growth. Note that this mainly happened organically, meaning not by simply buying competitors. Looking beyond the upcoming recession, I have zero doubt that Old Dominion Freight Line will remain a highly attractive dividend growth total return champion. How much Revenue does the trucking industry produce? Using ODFL's overview, the company offers the same price as most of its competitors, yet it can deliver a better performance. While this market environment is challenging, the company has roughly 25% excess capacity (as of the third quarter), which will allow the company to grow its margins as soon as demand rebounds. The latest ODFL numbers have not been included. Daylight Transport, Averitt Express and Midwest Motor Express, which was acquired by Knight-Swift Transportation (NYSE: KNX) last year, rounded out the overall top five. 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