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Old Dominion (ODFL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Old Dominion Freight Line (ODFL - Free Report) reported revenue of $1.52 billion, down 5.5% over the same period last year. EPS came in at $3.09, compared to $3.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.49 billion, representing a surprise of +1.56%. The company delivered an EPS surprise of +6.92%, with the consensus EPS estimate being $2.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old Dominion performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Ratio: 70.6% versus the five-analyst average estimate of 72.2%.
LTL tonnage per day: 37.18 Kton/D compared to the 37.38 Kton/D average estimate based on two analysts.
LTL shipments per day: 49.67 thousand compared to the 48.21 thousand average estimate based on two analysts.
LTL revenue per hundredweight: $31.87 compared to the $32.33 average estimate based on two analysts.
LTL revenue per hundredweight, excluding fuel surcharges: $26.29 versus the two-analyst average estimate of $25.85.
Work days: 63 Days versus the two-analyst average estimate of 63.13 Days.
LTL weight per shipment (lbs.): 1,497 lbs compared to the 1,522.48 lbs average estimate based on two analysts.
LTL shipments: 3,129 compared to the 3,043 average estimate based on two analysts.
LTL tons: 2,342 KTon compared to the 2,316.51 KTon average estimate based on two analysts.
Total revenue- Other services: $14.01 million versus the two-analyst average estimate of $15.67 million.
Total revenue- LTL services: $1.50 billion compared to the $1.41 billion average estimate based on two analysts.
Shares of Old Dominion have returned -3.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Old Dominion (ODFL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Old Dominion Freight Line (ODFL - Free Report) reported revenue of $1.52 billion, down 5.5% over the same period last year. EPS came in at $3.09, compared to $3.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.49 billion, representing a surprise of +1.56%. The company delivered an EPS surprise of +6.92%, with the consensus EPS estimate being $2.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old Dominion performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Ratio: 70.6% versus the five-analyst average estimate of 72.2%.
- LTL tonnage per day: 37.18 Kton/D compared to the 37.38 Kton/D average estimate based on two analysts.
- LTL shipments per day: 49.67 thousand compared to the 48.21 thousand average estimate based on two analysts.
- LTL revenue per hundredweight: $31.87 compared to the $32.33 average estimate based on two analysts.
- LTL revenue per hundredweight, excluding fuel surcharges: $26.29 versus the two-analyst average estimate of $25.85.
- Work days: 63 Days versus the two-analyst average estimate of 63.13 Days.
- LTL weight per shipment (lbs.): 1,497 lbs compared to the 1,522.48 lbs average estimate based on two analysts.
- LTL shipments: 3,129 compared to the 3,043 average estimate based on two analysts.
- LTL tons: 2,342 KTon compared to the 2,316.51 KTon average estimate based on two analysts.
- Total revenue- Other services: $14.01 million versus the two-analyst average estimate of $15.67 million.
- Total revenue- LTL services: $1.50 billion compared to the $1.41 billion average estimate based on two analysts.
View all Key Company Metrics for Old Dominion here>>>Shares of Old Dominion have returned -3.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.