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What's in the Cards for Old Dominion (ODFL) in Q3 Earnings?
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Old Dominion Freight Line, Inc. (ODFL - Free Report) is scheduled to report third-quarter 2022 results on Oct 26, before market open.
The Zacks Consensus Estimate for ODFL’s third-quarter 2022 earnings has been revised upward by 1% in the past 90 days to $3.06. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, the average beat being 6.99%.
Old Dominion Freight Line, Inc. Price and EPS Surprise
Let’s see how things have shaped up for Old Dominion this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for ODFL’s third-quarter 2022 revenues is pegged at $1.62 billion, indicating 15.4% growth year over year. The top line is likely to have been aided by an increase in less than truckload (LTL) tons per day and a rise in LTL revenue per hundredweight.
The Zacks Consensus Estimate for third-quarter LTL revenue per hundredweight suggests a rise of 16.6% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter LTL tonnage per day indicates a 3.9% increase from the year-ago quarter’s reported figure.
On the flip side, higher operating expenses (due to a rise in costs pertaining to salaries, wages and benefits and an escalation in operating supplies and expenses) and high capital expenditures are likely to have hurt ODFL’s bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Old Dominion this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Old Dominion has an Earnings ESP of +1.07% and a Zacks Rank #4 (Sell).
Highlights of Q2
ODFL's second-quarter 2022 earnings per share of $3.30 outpaced the Zacks Consensus Estimate of $3.10. The bottom line surged 42.9% year over year. Revenues of $1,667.4 million also surpassed the Zacks Consensus Estimate of $1,639.6 million and increased 26.4% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
JetBlue Airways (JBLU - Free Report) has an Earnings ESP of +1.67% and a Zacks Rank #3. JBLU will release results on Oct 25.
JBLU has an expected earnings growth rate of 67.73% for the current year.
Shares of JBLU have lost 55.5% over the past year.
United Parcel Service, Inc. (UPS - Free Report) has an Earnings ESP of +0.60% and a Zacks Rank #3. UPS will release results on Oct 25.
United Parcel has an expected earnings growth rate of 5.8% for the current year. UPS delivered a trailing four-quarter earnings surprise of 8.51%, on average.
UPS has a long-term earnings growth rate of 8.87%.
Image: Shutterstock
What's in the Cards for Old Dominion (ODFL) in Q3 Earnings?
Old Dominion Freight Line, Inc. (ODFL - Free Report) is scheduled to report third-quarter 2022 results on Oct 26, before market open.
The Zacks Consensus Estimate for ODFL’s third-quarter 2022 earnings has been revised upward by 1% in the past 90 days to $3.06. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, the average beat being 6.99%.
Old Dominion Freight Line, Inc. Price and EPS Surprise
Old Dominion Freight Line, Inc. price-eps-surprise | Old Dominion Freight Line, Inc. Quote
Let’s see how things have shaped up for Old Dominion this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for ODFL’s third-quarter 2022 revenues is pegged at $1.62 billion, indicating 15.4% growth year over year. The top line is likely to have been aided by an increase in less than truckload (LTL) tons per day and a rise in LTL revenue per hundredweight.
The Zacks Consensus Estimate for third-quarter LTL revenue per hundredweight suggests a rise of 16.6% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter LTL tonnage per day indicates a 3.9% increase from the year-ago quarter’s reported figure.
On the flip side, higher operating expenses (due to a rise in costs pertaining to salaries, wages and benefits and an escalation in operating supplies and expenses) and high capital expenditures are likely to have hurt ODFL’s bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Old Dominion this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Old Dominion has an Earnings ESP of +1.07% and a Zacks Rank #4 (Sell).
Highlights of Q2
ODFL's second-quarter 2022 earnings per share of $3.30 outpaced the Zacks Consensus Estimate of $3.10. The bottom line surged 42.9% year over year. Revenues of $1,667.4 million also surpassed the Zacks Consensus Estimate of $1,639.6 million and increased 26.4% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Copa Holdings (CPA - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. CPA will release results on Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
JetBlue Airways (JBLU - Free Report) has an Earnings ESP of +1.67% and a Zacks Rank #3. JBLU will release results on Oct 25.
JBLU has an expected earnings growth rate of 67.73% for the current year.
Shares of JBLU have lost 55.5% over the past year.
United Parcel Service, Inc. (UPS - Free Report) has an Earnings ESP of +0.60% and a Zacks Rank #3. UPS will release results on Oct 25.
United Parcel has an expected earnings growth rate of 5.8% for the current year. UPS delivered a trailing four-quarter earnings surprise of 8.51%, on average.
UPS has a long-term earnings growth rate of 8.87%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.