Old Dominion Freight Line Q1 Results Top Estimates

Old Dominion Freight Line Inc 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.

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