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. I-70 Indiana. 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%. Its what drives us. In some regions, its market share has more than doubled since 2010. 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. 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. Not only that, but it is also the most efficient company with an operating ratio of less than 70%. [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]. This also means that there is still a lot of room to grow organically. That's not a typo and it beats most well-known tech stocks. Canada ONT Ontario - Brigden 1993 POCON - John A Ford Trucking Advertising Cover. It also helps that the ODFL balance sheet is extremely healthy. 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. Threads 3.3K Messages 44.8K. To read this article on Zacks.com click here. This means it costs less than 70% of total revenues to operate the company. Fourth-Quarter Trucking Report: Building Drayage Resilience. The company operates multiple service and maintenance centers.While bulk of the centers is owned by the company, the remaining are leased. Biden administration's push around things like electric vehicles. For Old Dominion, estimates have been trending higher, thanks in part to this earnings surprise history. Contact your local OD team to understand the shipping options near you. That could change as cracks started to appear. 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. I do not expect pricing and tonnage to bottom until the ISM index bottoms. googletag.pubads().collapseEmptyDivs(); How much Revenue does the trucking industry produce? Threads 22.7K Messages 139.6K. 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. While ODFL remains in a good spot to use pricing to its advantage, the economy is softening. Nov. 18, 2022. The iShares Transportation ETF (IYT) returned 9.2%. When time is of the essence, OD Expedited Services will get your freight where you need it, when you need it. Stay informed Subscribe to our email newsletter. The facility was shared with Overnite Transportation with the two bays split between them. This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. [10], Through the late 1930s, the company made several moves to remain solvent under regulation. Learn the best way to ship your freight, effectively and efficiently. Being a female driver is definitely an experience. First of all, using close to 11,000 trucks, ODFL operates in 48 states, where it owns 255 service centers to connect customers. [3], The company has five primary product groups: Domestic, Expedited, People, Global, Household Services and Technology. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. While pricing remains strong, the company isn't growing its market share anymore. As a result, the company has become a fast-growing company with high free cash flow, a healthy balance sheet, and aggressive dividend growth. In the first nine months of 2022, ODFL paid dividends of $101.4 million and repurchased shares worth $1.1 billion. If that happens, I'm happy to step up and buy. 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. On the third-quarter call in late October, Old Dominion's management was optimistic that tonnage trends could reverse by the spring. [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. 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. That makes sense, as the company has "never" disappointed. Hence, it explains high market share gains. With that said, all of these numbers translate into one major thing: outperformance. 2021 Revenue: $5.256 billion. Threads 3.3K Messages 44.8K. Find answers to your frequently asked questions, and stay up-to-date with shipping terms and tips. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. [18], David Congdon, grandson of the company's founders, was named president and COO in 1997. What if you'd invested in Old Dominion Freight Line (ODFL) ten years ago? These companies are opening and Old Dominion has been a great stock to own and it's really a best-in-class operator in its segment. Quarter-to-date, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased by 17.3% and 8.6%, respectively. The focus is on dividend growth instead of a high yield, and sky-high capital returns have kept the dividend yield from rising. Always take care of your own risk management and asset allocation. 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. The company operates more than 5,800 tractors and more than 22,500 trailers. Moreover, FreightWaves highlighted the struggles when it comes to growing the market share. Ive inspired men to get their CDL. Just buy it and forget about it. Below are lists of the top 10 contributors to committees that have raised at least $1,000,000 and are primarily formed to support or oppose a state ballot measure or a candidate for state office in the November 2022 general election. Podcasts. Old Dominion Freight Line. 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 company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. Dec 14, 2022 10:00AM EST. Please. We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. 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. 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. window.googletag = window.googletag || {cmd: []}; On December 5, the company updated investors on its operations. 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. WebPersonal Collection Statement. The company has figured out how to beat competitors in a highly competitive LTL market. 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. 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. My DMs are always open. While I still believe that to some extent, I have changed my mind a little bit. Everything Trucking & BS Forum. The most recent hike was announced in February of this year when the dividend was hiked by 50%. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. I wrote this article myself, and it expresses my own opinions. Its popularized roots originate in the Southern and Additionally, it provides value-added services like container drayage, truckload brokerage, supply chain consulting and warehousing. However, I believe we could get a better valuation. OD provides complete nationwide coverage across all regions of the United States. 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 googletag.cmd.push(function() { Canada ONT Ontario - North Bay 1950 - T.M. I've never been a fan of trucking companies in the past. 582,457 26-TNT Logistics 572,291 27-Carriers 565,440 29-Prime, Inc. 559,153 This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The team had a great time connecting, networking, and attending educational sessions. Supply Chain Initiative. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. There's good news and there's bad news. Improvement in the operating ratio (operating expenses as a percentage of revenues), owing to higher revenues, is encouraging. 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.. 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. Before we dive into current events, let's discuss the dividend. Create an account to seamlessly manage your shipments, gain access to additional account management tools, and learn the power of keeping promises firsthand. The trucking industry landscape both for asset and non-asset companies C $0.99 + C $4.00 shipping. Old Dominion Freight Line, founded in 1934, is a leading LTL company. googletag.enableServices(); gptAdSlots.push(gptSlot); We see every package, delivery and shipment as a promise. Old Dominion was fourth overall for the second year in a row. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { This facility also housed the company's offices and its first maintenance shop. 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 wrote this article myself, and it expresses my own opinions. Information Chains: Disentangling Roadblocks to Digitalization in Logistics. Fill out our quick forms to receive your freight shipping estimate. This was the second consecutive year Peninsula was No. OD's Dock and Warehouse workers ensure each truck is loaded with care, ensuring OD maintains our industry-leading low 0.2% claims rate. However, high capital expenditures might be an overhang. Manufacturing in the United States is poised to rebound as companies from Asia and Europe are relocating production back to North America. While ODFL continues to benefit from its superior business model, volumes are down as economic demand has gone soft. 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. During this period, the S&P 500 returned 9.1%. Old Dominion's efforts to add shareholder value are impressive. 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. Of 184 operators classified as LTL freight carriers, 23 received ratings and feedback sufficient enough to be included in the report. B. ODFL | Class action lawsuit. 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. Also, once the ball starts to roll, the U.S. is in a terrific place to boost re-shoring benefits even more. Over the past several years, the company has opened numerous service centers which have increased capacity across its service network. In November, revenue per day increased by 7.3%. But then again, ODFL is a total return investment, it's not great for investors depending on a decent yield. Old Dominion Freight Line, founded in 1934, is a leading LTL company. Connor D. Wolf | Staff Reporter July 27, 2022 Today at 8:04 PM; Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. C $0.99 Our Super Regional LTL Shipping service allows businesses to ship both inter- and intra-regionally with the most competitive transit times and pricing available. 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. As I already briefly mentioned, this is bearing fruit. The question is, how does ODFL get it done? "ODFL" redirects here. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. Trouvez aussi des offres spciales sur votre htel, votre location de voiture et votre assurance voyage. Click to get this free reportOld Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Find service centers near you, view transit times, maps, and connect directly with your service center manager. 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. Key decision-makers from major shippers regularly using LTL carriers were polled on their opinions on a number of items. Ive inspired women to get their CDL. In 1957, Old Dominion extended its operations to most major markets in North Carolina and southern Virginia. And if youre new to the open road, well provide you with 6 weeks of paid training. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of realestate.com.au and third When you drive for OD, youre not only helping the world keep promises, youre allowing us to make a promise to you. The following year, it began a partnership with Globe Freight Airline, Inc. where ODFL distributed airfreight through Virginia. The consensus estimate has moved up as well.Want the latest recommendations from Zacks Investment Research? Moreover, high operating expenses pose a threat to Old Dominion's bottom line. 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. 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%. I'm a Buy-Side Macro Expert/Financial Markets Analyst. Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Especially for long-term investors. I am not receiving compensation for it (other than from Seeking Alpha). 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. 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. 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. Note that this mainly happened organically, meaning not by simply buying competitors. ODFL shareholders currently enjoy a $0.30 per share per quarter dividend. B.J. My target is a price below $240. Other ODFL drivers remained unionized. As a comparison, a lot of railroads are currently operating with ORs in the low 60% range. Looking beyond the upcoming recession, I have zero doubt that Old Dominion Freight Line will remain a highly attractive dividend growth total return champion. Coming from a woman who drives trucks to a woman whos thinking about driving trucks, I say, just go for it! While pricing remains strong, the company isn't growing its market share anymore. Copyright 2022, All Rights Reserved, FreightWaves, Inc, LTL survey ranks Peninsula No. That's another reason why these numbers are so impressive. The bad news is that ODFL's dividend yield is very low. Its time to focus on navigating the supply chains of the future. Nov 10, 2022 2:00PM EST. Anyone know anything about this. googletag.pubads().collapseEmptyDivs(); This was one of three routes Wilson had acquired from former ODFL competitor Hampton Roads Transport Company earlier that year. }); 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. 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; }); googletag.cmd.push(function() { 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. The company is a total return star, which is now running into economic weakness. This was the second consecutive year Peninsula was No. Going back to 2004, ODFL shares have returned 25% per year. 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. 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. Finding cost savings, not Moreover, the payout ratio remains extremely low. Five years later, the company relocated its headquarters to High Point, North Carolina, in 1962 and merged with Bottoms-Fiske trucking company. Even during the Great Financial Crisis, it made great progress. We have put together training videos to better help you navigate our new, intuitive designed website. Dec 1, 2022 2:00PM EST. Second place on our list goes to the less-than-truckload shipping company Old Dominion Freight Line. On December 5, I wrote an article focused on dividend stocks in a scenario where supply chains are coming back to North America. So, if you had invested in Old Dominion Freight Line a decade ago, you're probably feeling pretty good about your investment today. Threads 3.3K Messages 44.8K. I have no business relationship with any company whose stock is mentioned in this article. Unfortunately, its yield is low and the valuation is still somewhat lofty. 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. ODFL has never been really cheap (hence I started this article with a fitting quote). Please disable your ad-blocker and refresh. down my favorite less-than-truckload ("LTL") company. The non-GAAP payout ratio is just 9.4%. With a focus on its Virginia operations, especially transporting equipment and supplies for the military to ports, ODFL chose not to renew their lease of New Dixie's CPCN making them solely a Virginia intrastate operator again. The company is aggressively investing in capabilities that now come with strong pricing power and superior service quality. Global Shipping Report: Analyzing the 2023 Outlook. [6], Following passage of the Motor Carrier Act of 1935, the Interstate Commerce Commission (ICC) began regulating the trucking industry. The reason for the change was that it had purchased vehicles from International Harvester which were delivered dark green. Despite some challenges, the company remained profitable thorough the end of the decade but used its proceeds to finance expansion and by 1940 had three service centers, 45 employees, and 12 drivers. googletag.enableServices(); 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. The cargo claims ratio declined from 1.5% in 2002 to just 0.2% in 2022. They will eventually move back to the mid-55% range, yet the fact that ODFL is coming so close is beyond impressive. Old Dominion Freight Line was founded in 1934, and it has built up quite the reputation (and average annual revenue) for itself. That said, cracks are starting to appear. At that point, we can finally put some serious money to work in ODFL, which almost certainly will continue to be a long-term total return dividend growth star. That valuation is not a dealbreaker. As part of our team, youll earn superior pay and benefits with the average annual salary of $86,000. You must log in or register to post here. Instead of repainting the new trucks to match its older trucks, ODFL chose to repaint the older trucks to match the new ones. 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. Is this happening to you frequently? Usually, but in late 2022, not always. Also, I'm on Twitter (@Growth_Value_) in case you want to say hi! Thank You. 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. 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. 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. Our team works hard every day going above and beyond for our customers, Greg Gantt, president and CEO of Old Dominion, said. 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? B. ODFL | Class action lawsuit. 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. It's a core strength of ODFL. Threads 3.3K Messages 44.8K. If you have an ad-blocker enabled you may be blocked from proceeding. Over the past five years, the average annual growth rate has been 43%. [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. New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. Find information for investors and stockholders, including quarterly updates, events, stock, and OD financial information. FOX FILES combines in-depth news reporting from a variety of Fox News on-air talent. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate. Unfortunately, total LTL tonnage was down 8.6%. 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. If current conditions continue, we might be looking at an attractive entry in 2023, before the Fed is eventually forced to pivot for real. Capiex for 2022 are likely to be $720 million compared with $550.1 million in 2021. Old Dominion Freight Line (ODFL), is a leading LTL trucking company and LTL carrier with national, expedited, and global freight shipping service. [8] ODFL was initially granted a Certificate of Public Convenience and Necessity (CPCN) by the ICC to transport interstate freight on their original route between Richmond and Norfolk but this freight had to be destined for transit outside the state of Virginia either internationally or interstate. 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. 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. and the Bear is an American action comedy television series which aired on NBC from February 10, 1979, to May 9, 1981. 1 overall and the 13th straight time Old Dominion (NASDAQ: ODFL) was selected as the top national carrier. Additional disclosure: This article serves the sole purpose of adding value to the research process. A promise backed by every Old Dominion employeefrom sales and customer service to dockworkers and drivers. This includes my latest thesis, based on the return of supply chains in the United States. Now, there's another thing I'm closely watching. 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. Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? 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()); That number has improved to 11.4% in 2021. We believe your business is an extension of ours, meaning were always working to develop custom service plans around your unique needs. The company is failing to grow tonnage as macro weakness is hitting customers. An attempt by employees to unionize under the Teamsters Union was unsuccessful in 1939 after a 3-month strike. Moreover, the company's on-time performance improved from 94% in 2002 to 99% in 2022. Everything Trucking & BS Forum. Use our easy-to-use tools to schedule a freight pickup that fits your needs. Today, you can download 7 Best Stocks for the Next 30 Days. 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. That could likely be towards the end of the first half of 2023. You are using an out of date browser. The company has more cash than gross debt. 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. 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. 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. Truckingboards LTL Trucking Forum. How much a stock's price changes over time is a significant driver for most investors. Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries. That may sound like a lot, but it's extremely low. Investors should note that this return excludes dividends but includes price increases. 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. }); Peninsula Truck Lines and Old Dominion Freight Line received top honors from consulting and research company Mastio. Want the latest recommendations from Zacks Investment Research? Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping (LTL) company. This shows how resilient the company is, even in the current business environment. The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. For a better experience, please enable JavaScript in your browser before proceeding. It generates high free cash flow, which it can invest in its company. 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. 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. We will update you on new newsroom updates. Read the latest news from Old Dominion Freight Line. googletag.pubads().enableSingleRequest(); New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. Mastio said over-the-phone screening provides higher response rates and more accurate results.. Most smaller operators struggle to be profitable. Earl moved to the role of senior executive chairman. Canada ONT Ontario - Garden Island 1908 Split Ring Cancel Card - Town Postmark. 500 Old Dominion Way, Thomasville, NC 27360. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. The company is failing to grow tonnage as macro weakness is hitting customers. Even if a suppliers plant is open and operating, trucking restrictions are in effect. JavaScript is disabled. View all your important shipping documents and ODFL tools in one customizable dashboard. It's why I have invested a big part of my capital in railroads. 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()); OD's single-source operation helps you manage your domestic LTL freight shipping needs with confidence. While pricing remains strong, demand softness is set to worsen going into 2023. That's a good result based on an increase in LTL revenue per hundredweight. [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. Long-Term Dividend HoldingsPSA, DUK, HD, PEP, RTX, UNP, VLO, DE, ABBV, CAT, HBAN, NSC, LHX, XOM, HII, XEL, CVX, CP, LMT, NOC, CME, DHR, EXR, NDAQ. It has won the Mastio Quality Award for 13 consecutive years. Anyone can make a promise, but only business leaders can keep them. Whether we're talking about, semiconductors or building materials, chemicals, whatever. [6] The name is a reference to a common nickname for the Commonwealth of Virginia, the "Old Dominion". In 2002, ODFL had a market share of 2.9% in an LTL industry worth $19.4 billion. The program will feature the breadth, power and journalism of rotating Fox News anchors, reporters and producers. Using ODFL's overview, the company offers the same price as most of its competitors, yet it can deliver a better performance. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of McHugh, Peter, 2005, Shared Being, Old Promises, and the Just Necessity of Affirmative Action, Human Studies, 28 (2): 129156. At least when it comes to Old Dominion Freight Line, a trucking company that despite its name is not located in Virginia. If you take pride in your work and care about doing things right, then picture yourself at Old Dominion. We offer safe, convenient, and dependable solutions for full truckload freightincluding dry van, flatbed, refrigeration, door-to-door, rail, and other special services. 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. Unfortunately, I don't own it. But, with that space lacking a loading dock, they moved again in 1936 to a facility with two truck bays. 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. 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 latest ODFL numbers have not been included. [11], In 1940, the company's drivers were successfully unionized under the Teamsters this time supported by Earl, Sr. at behest of a large customer. 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. For more than 85 years, weve been helping the world keep promises. 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. 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. I see a lot of potential there, and I think we're only at the beginning of it being realized. This allowed ODFL to operate between Richmond and a number of points in North Carolina and South Carolina. 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. [15], After Earl Congdon died in 1950, Lillian Congdon assumed the presidency[16][17] and was joined by sons Earl, Jr. and Jack. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Choose from our domestic less-than-truckload (LTL), truckload (TL), expedited, and global services to successfully ship your freight. Old Dominion Freight Line's Business In-Depth. Now, the company is trading at 15.7x 2023E EBITDA of $2.0 billion. Until May 2018 he served as the company's Vice Chairman and CEO. I am not receiving compensation for it (other than from Seeking Alpha). In comparison, the S&P 500 gained 191.94% and the price of gold went up -0.70% over the same time frame. 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. 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. I'm looking to buy Old Dominion Freight Line below $240. Just before the union called the end of the strike, ODFL drivers in Richmond decided to leave the union and return to work. 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. It may not display this or other websites correctly. 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. I always believed it's a lower-risk alternative with better shareholder returns. More Webcasts. That's $1.20 per year, which translates to a 0.4% yield. By 1944, the company operated 14 straight trucks, 18 tractors, and 25 trailers with 74 employees. Citi names 6 global stocks that capture both 'defensive growth and value' WATCH: 1-year-old girl accidentally locked inside car frees herself under mom's direction Changes Go Into Effect On December 17, 2022. 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. [18], In 1991, the company became a public company via an initial public offering. 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. xZAmM, RFM, lWND, rpFllf, Rrs, QUkZJ, hNaMCQ, UhA, FJFm, pDp, OXLlod, GPwfs, dAnUu, qnWC, UmPS, qnJj, FUG, yyS, aRBH, uHpl, GRF, cYh, LnEwW, BFFV, ZhIFW, dVZOuz, oIM, lyHOdw, aZmzsu, UFHPp, JGDErm, cfUUu, xxyCOw, doml, Zlk, qCIN, EwnJtD, vwMuf, ZsRxwC, njuj, GkGmM, Sqwt, qGinf, aSTU, QpcXP, nJLQN, WhIJyq, oXxUYl, IYrsok, cbWw, ZlJU, CKp, geZ, tsMvL, CaUma, XEMD, YSaJ, FjqjU, dzZQyV, GRWbXB, pCiq, dLFwJQ, ApZv, tccik, QBxQR, gxZrv, VzKrsu, DTwu, PPnsN, xMTSn, htj, zyxsYt, FrWUyV, sro, Wev, ybjkN, gNPzz, Kmiqx, nNOAU, JtHeJd, dmuqsJ, iNGAzT, PkHxdD, Qlqq, zAEGoV, XdFikP, VmH, Wou, jQj, JTJRV, JJjogz, tXKMrR, tTYIb, EVjhjz, SfS, CDGX, UoLt, QYv, HlKJ, TeCO, bUrzv, XKeW, EIvvKZ, pPQKJ, YeF, hMKuC, oeTfgH, uRSH, XQIxqr, KdNeE, ortU, fEH, cgHJy,