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What Analyst Projections for Key Metrics Reveal About Old Dominion (ODFL) Q2 Earnings
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Wall Street analysts forecast that Old Dominion Freight Line (ODFL - Free Report) will report quarterly earnings of $1.52 per share in its upcoming release, pointing to a year-over-year increase of 19.7%. It is anticipated that revenues will amount to $1.54 billion, exhibiting an increase of 9.5% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Old Dominion metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Operating Ratio' to reach 72.6%. The estimate is in contrast to the year-ago figure of 74.6%.
Analysts expect 'LTL tonnage per day' to come in at 32 thousands of ton per day. The estimate compares to the year-ago value of 33 thousands of ton per day.
The average prediction of analysts places 'LTL shipments per day' at 42.53 thousand. Compared to the present estimate, the company reported 44.91 thousand in the same quarter last year.
According to the collective judgment of analysts, 'LTL revenue per hundredweight' should come in at $37.36 . The estimate is in contrast to the year-ago figure of $32.84 .
Based on the collective assessment of analysts, 'LTL revenue per hundredweight, excluding fuel surcharges' should arrive at $29.69 . The estimate compares to the year-ago value of $28.17 .
The combined assessment of analysts suggests that 'Work days' will likely reach 64 days. Compared to the present estimate, the company reported 64 days in the same quarter last year.
The consensus among analysts is that 'LTL weight per shipment (lbs.)' will reach $1503.0 pounds. The estimate is in contrast to the year-ago figure of $1478.0 pounds.
It is projected by analysts that the 'LTL shipments' will reach 2,722 . The estimate compares to the year-ago value of 2,874 .
The collective assessment of analysts points to an estimated 'LTL tons' of 2045 thousands of tons. The estimate is in contrast to the year-ago figure of 2123 thousands of tons.
Shares of Old Dominion have demonstrated returns of +4.8% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #2 (Buy), ODFL is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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What Analyst Projections for Key Metrics Reveal About Old Dominion (ODFL) Q2 Earnings
Wall Street analysts forecast that Old Dominion Freight Line (ODFL - Free Report) will report quarterly earnings of $1.52 per share in its upcoming release, pointing to a year-over-year increase of 19.7%. It is anticipated that revenues will amount to $1.54 billion, exhibiting an increase of 9.5% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Old Dominion metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Operating Ratio' to reach 72.6%. The estimate is in contrast to the year-ago figure of 74.6%.
Analysts expect 'LTL tonnage per day' to come in at 32 thousands of ton per day. The estimate compares to the year-ago value of 33 thousands of ton per day.
The average prediction of analysts places 'LTL shipments per day' at 42.53 thousand. Compared to the present estimate, the company reported 44.91 thousand in the same quarter last year.
According to the collective judgment of analysts, 'LTL revenue per hundredweight' should come in at $37.36 . The estimate is in contrast to the year-ago figure of $32.84 .
Based on the collective assessment of analysts, 'LTL revenue per hundredweight, excluding fuel surcharges' should arrive at $29.69 . The estimate compares to the year-ago value of $28.17 .
The combined assessment of analysts suggests that 'Work days' will likely reach 64 days. Compared to the present estimate, the company reported 64 days in the same quarter last year.
The consensus among analysts is that 'LTL weight per shipment (lbs.)' will reach $1503.0 pounds. The estimate is in contrast to the year-ago figure of $1478.0 pounds.
It is projected by analysts that the 'LTL shipments' will reach 2,722 . The estimate compares to the year-ago value of 2,874 .
The collective assessment of analysts points to an estimated 'LTL tons' of 2045 thousands of tons. The estimate is in contrast to the year-ago figure of 2123 thousands of tons.
View all Key Company Metrics for Old Dominion here>>>Shares of Old Dominion have demonstrated returns of +4.8% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #2 (Buy), ODFL is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .