Old Dominion Freight Line Q3 profit falls 9.1% as revenue drops 3.0% to $1.47 billion
Old Dominion reported third quarter 2024 revenue of $1.47 billion, down 3.0% from a year earlier, and diluted earnings per share of $1.43, down 7.1%. The company said softness in the domestic economy and a higher operating ratio of 72.7% drove the decline, the first year-over-year quarterly decrease in revenue and earnings per share this year.
Key points
- Q3 2024 revenue was $1,470.2 million, down 3.0% from $1,515.3 million in Q3 2023.
- Operating ratio rose 210 basis points to 72.7%; net income fell 9.1% to $308.6 million.
- Nine-month diluted EPS rose 2.2% to $4.25, and the company spent $824.8 million on share repurchases in the first nine months.
- Cash and cash equivalents were $74.2 million at September 30, 2024, and 2024 capital expenditures are expected to total about $750 million.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.