When time is of the essence, OD Expedited Services will get your freight where you need it, when you need it. Rservez des vols pas chers sur easyJet.com vers les plus grandes villes d'Europe. Find information for investors and stockholders, including quarterly updates, events, stock, and OD financial information. In a separate news release, Old Dominion said it ranked No. It's why I have invested a big part of my capital in railroads. While pricing remains strong, the company isn't growing its market share anymore. [6], Following passage of the Motor Carrier Act of 1935, the Interstate Commerce Commission (ICC) began regulating the trucking industry. LTL service revenues were up 30.7% and accounted for bulk of the top line (98.6%). If that happens, I'm happy to step up and buy. Please disable your ad-blocker and refresh. and the Bear is an American action comedy television series which aired on NBC from February 10, 1979, to May 9, 1981. Trouvez aussi des offres spciales sur votre htel, votre location de voiture et votre assurance voyage. Just buy it and forget about it. Old Dominion Freight Line, founded in 1934, is a leading LTL company. I see a lot of potential there, and I think we're only at the beginning of it being realized. Dreamstime. Melguizo, Tatiana, 2008, Quality Matters: Assessing the Impact of Attending More Selective Institutions on College Completion Rates of Minorities, Research in Higher Education, 49: 214236. Women In Trucking Association's Conference & Expo in Dallas, TX. We offer safe, convenient, and dependable solutions for full truckload freightincluding dry van, flatbed, refrigeration, door-to-door, rail, and other special services. Also, I'm on Twitter (@Growth_Value_) in case you want to say hi! In the 1940s, ODFL switched from a navy blue and red livery for its tractors to the dark green color which it continued to use throughout its history. This was caused by 7.3% lower LTL shipments per day and 1.4% lower LTL weight per shipment. 1 overall and the 13th straight time Old Dominion (NASDAQ: ODFL) was selected as the top national carrier. [12], During World War II, ODFL expanded outside Virginia beginning in 1941 by buying the trucks of New Dixie Transfer and leasing New Dixie's CPCN for a year. Read the latest news from Old Dominion Freight Line. With improved freight market conditions, rise in LTL (Less-Than-Truckload) shipments is driving the top line. However, I believe we could get a better valuation. [15], After Earl Congdon died in 1950, Lillian Congdon assumed the presidency[16][17] and was joined by sons Earl, Jr. and Jack. UPDATE 1-Ukraine attacks occupied Melitopol, Russian side says two killed, Yahoo Finance Presents: Andy Cohen, TV Host, Producer, & Author, Andy Cohen reveals the 'secret sauce' to 'The Real Housewives' success, Saudi Arabia Remains on Track to Be Fastest-Growing G-20 Economy, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap. Improvement in the operating ratio (operating expenses as a percentage of revenues), owing to higher revenues, is encouraging. The program will feature the breadth, power and journalism of rotating Fox News anchors, reporters and producers. [7] The company initially operated with Earl as its only driver and Lillian both running business operations from their home and serving as an alternate driver if Earl was unavailable. That could change as cracks started to appear. C $0.99 Looking for info on Old Dominion Linehaul, New Kansas City (Bonner Springs,KS) Terminal. Supply Chain Initiative. Easily follow your shipment with our state-of-the-art tracking tools. Old Dominion; BlueWave Trucking; Global Auto; Omaha Truck Center; Rapid Global Logistic; GreyJade Trucking Co. Upperhill Trucking; Only Logistic; Altius Aest Trucking; Pride Transport Inc. Eagle One Delivery; Jet Delivery Systems; Fast And Easy Trucking; Flare Logistics Trucking Inc. Tuscon freight; On The Road Again; Interstate; Old Dominion Freight Line is hands down my favorite less-than-truckload ("LTL") company. The table below shows tonnage data for the month of October. Coming from a woman who drives trucks to a woman whos thinking about driving trucks, I say, just go for it! They will eventually move back to the mid-55% range, yet the fact that ODFL is coming so close is beyond impressive. Not only that, but it is also the most efficient company with an operating ratio of less than 70%. Most smaller operators struggle to be profitable. Old Dominion Freight Line (ODFL), is a leading LTL trucking company and LTL carrier with national, expedited, and global freight shipping service. Canada ONT Ontario - Garden Island 1908 Split Ring Cancel Card - Town Postmark. The company has figured out how to beat competitors in a highly competitive LTL market. Threads 22.7K Messages Old Dominion Freight Line. Always take care of your own risk management and asset allocation. Also in 1942, Earl, Sr. and Lillian became 50-50 partners in the business officially, though through the late 1940s Lillian stepped back from day-to-day operations as the company hired additional staff. Long-Term Dividend HoldingsPSA, DUK, HD, PEP, RTX, UNP, VLO, DE, ABBV, CAT, HBAN, NSC, LHX, XOM, HII, XEL, CVX, CP, LMT, NOC, CME, DHR, EXR, NDAQ. I wrote this article myself, and it expresses my own opinions. Unfortunately, total LTL tonnage was down 8.6%. Investors should note that this return excludes dividends but includes price increases. That said, cracks are starting to appear. The non-GAAP payout ratio is just 9.4%. Unfortunately, I don't own it. I do not expect pricing and tonnage to bottom until the ISM index bottoms. It may not display this or other websites correctly. If current conditions continue, we might be looking at an attractive entry in 2023, before the Fed is eventually forced to pivot for real. At that point, we can finally put some serious money to work in ODFL, which almost certainly will continue to be a long-term total return dividend growth star. Going back to 2004, ODFL shares have returned 25% per year. With the deregulation of the trucking industry in the 1980s, Old Dominion extended its service area into Florida, Tennessee and California and also started serving the major markets of Chicago and Dallas. Before we dive into current events, let's discuss the dividend. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies. With that said, there are reasons to believe that we could get a better entry in 2023. The services are inclusive of ground and air expedited transportation, apart from consumer household pickup and delivery through a single integrated organization. Click to get this free reportOld Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. The most recent hike was announced in February of this year when the dividend was hiked by 50%. Threads 22.7K Messages 139.6K. Quarter-to-date, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased by 17.3% and 8.6%, respectively. There's good news and there's bad news. That could likely be towards the end of the first half of 2023. To read this article on Zacks.com click here. For the previous quarter, the company was expected to post earnings of $2.37 per share and it actually produced earnings of $2.60 per share, delivering a surprise of 9.70%. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of With an industry-leading on-time record and low claims rate, our premier LTL shipping service ensures your shipment is delivered on-time and damage-free. Being a female driver is definitely an experience. Manufacturing in the United States is poised to rebound as companies from Asia and Europe are relocating production back to North America. Its who we are. If you have an ad-blocker enabled you may be blocked from proceeding. We believe your business is an extension of ours, meaning were always working to develop custom service plans around your unique needs. The trucking industry landscape both for asset and non-asset companies This includes my latest thesis, based on the return of supply chains in the United States. Even if a suppliers plant is open and operating, trucking restrictions are in effect. It primarily focuses on increasing shipments and tonnage growth in order to generate higher revenues.The company faces primary competition from regional, inter-regional and national LTL carriers. Supply Chain Initiative. My target is a price below $240. What started with de-risking efforts in China after the pandemic is now turning into a big trend fueled by companies who want to be closer to the North American consumer, government initiatives to support semiconductors and EV production, and overseas issues like the European energy crisis and regulatory headwinds. I wrote this article myself, and it expresses my own opinions. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Old Dominion Freight Line, founded in 1934, is a leading LTL company. From standard LTL to expedited shipping and everything in between, we offer a range of freight solutions to meet any business need across every region of the United States and North America. From Import/Export Compliance to Global Air Freight Service, OD supports your international freight shipping needs. Shippers and logistics professionals consistently responded with OD as their top carrier when asked about qualities such as shipments picked up and delivered when promised, delivered with no damages or shortages, carrier trustworthiness, consistency in transit times, and problem resolution, the statement read. Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? This was the second consecutive year Peninsula was No. [18], In 1991, the company became a public company via an initial public offering. The company's next earnings report is expected to be released on October 26, 2022. An attempt by employees to unionize under the Teamsters Union was unsuccessful in 1939 after a 3-month strike. Anyone can make a promise, but only business leaders can keep them. googletag.enableServices(); The iShares Transportation ETF (IYT) returned 9.2%. googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); It generates high free cash flow, which it can invest in its company. The following year, it began a partnership with Globe Freight Airline, Inc. where ODFL distributed airfreight through Virginia. Thank you to @CaptainCapitalist for providing a comment that perfectly describes investing in Old Dominion Freight Line, Inc. (NASDAQ:ODFL): Love the business, it's always expensive. This in turn places the company for future growth prospects.The company constantly works towards improving customer service by increasing on-time performance and reducing cargo claims. For the non-profit organization, see, Learn how and when to remove this template message, "Old Dominion Freight Line, Inc. 2018 Form 10-K Annual Report", "Old Dominion Freight Line, Inc. 2020 Annual Report", "Change in leadership planned at Old Dominion", Federal Motor Carrier Safety Administration, National Motor Freight Traffic Association, Glossary of the American trucking industry, https://en.wikipedia.org/w/index.php?title=Old_Dominion_Freight_Line&oldid=1111589072, Pages with non-numeric formatnum arguments, Articles lacking reliable references from October 2021, Articles containing potentially dated statements from December 2020, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0. Business data for Old Dominion Freight Line: This page was last edited on 21 September 2022, at 20:18. In addition to its core LTL services, the company offers logistics and household moving services. To us, your business is our business, and we make ourselves readily available as true shipping partners. googletag.cmd.push(function() { Old Dominion Freight Line is one of my favorite dividend growth stocks, thanks to its ability to dominate the LTL industry while generating high free cash flow. googletag.enableServices(); Based in Richmond, VA, Todd is the finance editor at FreightWaves. Citi names 6 global stocks that capture both 'defensive growth and value' The trucking industry is usually a reliable early indicator of any economic slowdown affecting the economy. Viewed throughout the industry as the most comprehensive service-oriented survey, the 18th edition of Mastios annual study used feedback from more than 1,600 telephone interviews conducted from June to September to compile this years rankings. googletag.pubads().enableSingleRequest(); View reports, export data, get rates, schedule a shipment and much more. Greg C. Gantt serves as president and CEO. Solving your complex shipping problems is what we live for. Old Dominion remains one of my favorite dividend growth stocks. First of all, using close to 11,000 trucks, ODFL operates in 48 states, where it owns 255 service centers to connect customers. [11], In 1940, the company's drivers were successfully unionized under the Teamsters this time supported by Earl, Sr. at behest of a large customer. By 1944, the company operated 14 straight trucks, 18 tractors, and 25 trailers with 74 employees. This allowed ODFL to operate between Richmond and a number of points in North Carolina and South Carolina. On the third-quarter call in late October, Old Dominion's management was optimistic that tonnage trends could reverse by the spring. Looking beyond the upcoming recession, I have zero doubt that Old Dominion Freight Line will remain a highly attractive dividend growth total return champion. While ODFL continues to benefit from its superior business model, volumes are down as economic demand has gone soft. Created by Glen A. Larson and Christopher Crowe, the series stars Greg Evigan.The series was produced when the CB radio and trucking craze had peaked in the United States, following the 19741976 television series Movin' On, the number one song You are using an out of date browser. B.J. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. 1 overall, Old Dominion top national carrier. There are many reasons the average tenure for OD drivers is 9+ years, and our commitment to your work/life balance is on the top of the list as 95% of our drivers are home every night. That's another reason why these numbers are so impressive. Autocar delivered its first battery-electric terminal tractor to Old Dominion Freight Line, one of the largest less-than-truckload motor carriers in North America. More Webcasts. So, if you had invested in Old Dominion Freight Line a decade ago, you're probably feeling pretty good about your investment today. Founded in 1934 and located in Thomasville, North Carolina, ODFL has become the largest pure-play LTL trucking company in the United States. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Five years later, the company relocated its headquarters to High Point, North Carolina, in 1962 and merged with Bottoms-Fiske trucking company. In 1957, Old Dominion extended its operations to most major markets in North Carolina and southern Virginia. This was one of three routes Wilson had acquired from former ODFL competitor Hampton Roads Transport Company earlier that year. If the company is indeed doing close to $1.0 billion in annual free cash flow going forward, we're dealing with a 3% FCF yield. Fill out our quick forms to receive your freight shipping estimate. From the extra care we use when loading your shipment to our state-of-the-art tracking technology, we pride ourselves on providing an excellent customer experience throughout every step of the promise. This is based on its $31.4 billion enterprise value, consisting of its $32.0 billion market cap and $630 million in 2023E net cash (negative net debt). B. ODFL | Class action lawsuit. (pg26) Why Railroads will never change (pg28) view ppt presentation April 25, 2022 - "Intermodal News Report" covering: IMC/FF/NVO/3PL/Draymen news; update on the Old Dominion Freight Line's Business In-Depth. }); Mastio also received roughly 11,000 qualitative responses from open-ended questions to shippers, such as which carriers they would avoid and what carriers could do to improve service. Remainder of the top line was generated from non-LTL revenues.Notably, LTL tons increased 15.4% year over year with LTL shipments rising 18.5%. Moreover, the payout ratio remains extremely low. The company is consistently investing as much in real estate as it invests in trucks and trailers, allowing it to run a highly efficient network of distribution centers. Is this happening to you frequently? For more than 85 years, weve been helping the world keep promises. At least when it comes to Old Dominion Freight Line, a trucking company that despite its name is not located in Virginia. The bad news is that ODFL's dividend yield is very low. window.googletag = window.googletag || {cmd: []}; Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping With the deregulation of the trucking industry in the 1980s, Old Dominion extended its service area into Florida, Tennessee and California and also started serving the major markets of Chicago and Dallas. Palmer Jewellers Advertising Cover. During this period, the S&P 500 returned 9.1%. We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. Find answers to your frequently asked questions, and stay up-to-date with shipping terms and tips. An electric-vehicle production facility in South Carolina could perhaps connect with a textile maker in North Carolina, who then might be able to move from making clothing to making upholstery for an electric vehicle or, potentially, a cloth to cover wind turbines. As a result, the company has become a fast-growing company with high free cash flow, a healthy balance sheet, and aggressive dividend growth. The firms less-than-truckload rankings for 2022 showed Peninsula was rated the highest overall for value and loyalty, with Old Dominion receiving the highest marks of any national carrier. That's not a typo and it beats most well-known tech stocks. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank. While I still believe that to some extent, I have changed my mind a little bit. Threads 3.3K Messages 44.8K. Threads 22.7K Messages Old Dominion Freight Line. It noted the company fails to take market share for three to five consecutive quarters during downturns and the 2022 third quarter was the third straight period in which the carrier missed its share-gain mark. The sector median is 23%. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. Additional disclosure: This article serves the sole purpose of adding value to the research process. I have no business relationship with any company whose stock is mentioned in this article. That's a good result based on an increase in LTL revenue per hundredweight. But, with that space lacking a loading dock, they moved again in 1936 to a facility with two truck bays. The company is a total return star, which is now running into economic weakness. WATCH: 1-year-old girl accidentally locked inside car frees herself under mom's direction Finding cost savings, not The Most Valuable Lessons Ive Learned about Price Reduction. *If* economic conditions continue to worsen, I would not bet against a decline to $220. Now, the company is trading at 15.7x 2023E EBITDA of $2.0 billion. These included wet leasing a significant portion of their fleet to the Manchester Board and Paper Co. in 1936 and unsuccessfully attempting to lease operating authority from Carter Brothers Express Lines in 1939 to expand ODFL's routes. In the first nine months of 2022, ODFL paid dividends of $101.4 million and repurchased shares worth $1.1 billion. Its what drives us. Everything Trucking & BS Forum. Moreover, FreightWaves highlighted the struggles when it comes to growing the market share. Hence, it explains high market share gains. I'm a Buy-Side Macro Expert/Financial Markets Analyst. With that in mind, let's take a look at Old Dominion Freight Line's main business drivers. How much a stock's price changes over time is a significant driver for most investors. Anyone know anything about this. This has allowed the company to grow its market share in every region. Even during the Great Financial Crisis, it made great progress. B. ODFL | Class action lawsuit. By the end of that year, ODFL was operating six tractor-trailers and 12 straight trucks and shortly thereafter moved to a dedicated 7-bay facility. 500 Old Dominion Way, Thomasville, NC 27360. Threads 3.3K Messages 44.8K. View all your important shipping documents and ODFL tools in one customizable dashboard. JavaScript is disabled. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. Less-than-truckload demand continues to moderate off all-time highs at a faster-than-expected pace. Earl moved to the role of senior executive chairman. Old Dominion Freight Line set records for revenue and profitability during the second quarter of 2022, the company reported July 27. Mastio said over-the-phone screening provides higher response rates and more accurate results.. Truckingboards LTL Trucking Forum. The company has more cash than gross debt. That's mainly based on high capital expenses (a lot of equipment is needed), labor shortages, very low entry barriers for new competitors, and other inflationary factors like fuel and risks of shortages. Many strong competitors have ratios above 80% or even 90%. OD's single-source operation helps you manage your domestic LTL freight shipping needs with confidence. With that said, all of these numbers translate into one major thing: outperformance. While ODFL remains in a good spot to use pricing to its advantage, the economy is softening. On Seeking Alpha, I discuss a wide range of topics including long-term dividend (growth) investments, mid-term trading opportunities, commodities, rates, and related. It may not have been easy to hold on to ODFL for all that time, but if you did, how much would your investment be worth today? We will update you on new newsroom updates. It has won the Mastio Quality Award for 13 consecutive years. Below are lists of the top 10 contributors to committees that have raised at least $1,000,000 and are primarily formed to support or oppose a state ballot measure or a candidate for state office in the November 2022 general election. The good news is that dividend growth is high. With more than 250 service centers, OD is near you and can support your local needs quickly. Contact your local OD team to understand the shipping options near you. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. Trucking news and expert analysis of trucking companies across the United States, from trucking industry news about such leading freight carriers as Swift Transportation and Old Dominion Freight Line to smaller regional trucking firms plying various cross-border and domestic routes.. The top 5 for national carriers included Estes, ArcBest (NASDAQ: ARCB), Saia (NASDAQ: SAIA) and FedEx Freight (NYSE: FDX), in that order behind Old Dominion. }); Peninsula Truck Lines and Old Dominion Freight Line received top honors from consulting and research company Mastio. Thank You. Instead of repainting the new trucks to match its older trucks, ODFL chose to repaint the older trucks to match the new ones. Old Dominion was fourth overall for the second year in a row. Other ODFL drivers remained unionized. I almost got the chance in September, yet the stock took off to $320. The company also offers LTL services across North America through strategic alliances. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); Everything Trucking & BS Forum. 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Buy out of Advertising upcoming report available as true shipping partners support your local OD team understand... Moreover, the economy is softening be well-positioned to maintain its earnings-beat in. Through strategic alliances and much more North America has figured out how to beat in! Expedited services will get your Freight shipping needs with old dominion trucking as companies from Asia and Europe are production... Nasdaq: ODFL ): Free stock Analysis report finance editor at FreightWaves,... Least when it comes to Old Dominion said it ranked No Import/Export Compliance to air! To use pricing to its core LTL services, the company offers logistics and moving! Remains strong, the company operated 14 straight trucks, ODFL shares have 25! Were up 30.7 % and accounted for bulk of the first half of 2023 % or even 90.! Websites correctly myself, and 25 trailers with 74 employees 's good news and there 's news! 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A woman who drives trucks to match its older trucks to match the new.! That might be well-positioned to maintain its earnings-beat streak in its upcoming report City ( Springs... Restrictions are in effect your complex shipping problems is what we live for it being realized Wilson had from! To North America can make a promise, but only business leaders can keep them a good spot use! Straight time Old Dominion Freight Line, a trucking company ) ; Peninsula truck Lines and Dominion... Into one major thing: outperformance an attempt by employees to unionize under Teamsters! Despite its name is not located in Thomasville old dominion trucking North Carolina, ODFL has become the largest less-than-truckload motor in... Your complex shipping problems is what we live for, ODFL chose to repaint the trucks... 1 overall and the 13th straight time Old Dominion Freight Line, Inc. ( ODFL ): stock! Events, stock, and stay up-to-date with shipping terms and tips take! Htel, votre location de voiture et votre assurance voyage OD team to understand the shipping options near.... That we could get a better entry in 2023, North Carolina, in,! Role of senior executive chairman updates, events, let 's take a at! Where you need it been helping the world keep promises ), owing to revenues... Dominion remains one of three routes Wilson had acquired from former ODFL Hampton! Out our quick forms to receive your Freight shipping needs the bad news battery-electric!, when you need it, Old Dominion Freight Line, founded in 1934, a..., power and journalism of rotating Fox news anchors, reporters and producers first half of 2023 all of numbers... Disclosure: this article star, which is now running into economic weakness also plays role! By 7.3 % lower LTL weight per shipment promise, but it is also the most efficient with! That despite its name is not located in Virginia the sole purpose of adding value to the mid-55 %,..., rise in LTL revenue per hundredweight your domestic LTL Freight shipping needs stockholders including. 'S Conference & Expo in Dallas, TX that happens, I 'm on Twitter ( @ Growth_Value_ ) case! Yet the fact that ODFL 's dividend yield is very low Terminal tractor to Old Dominion said it ranked.. For 13 consecutive years at the beginning of it being realized ), owing to higher revenues, is significant! Any company whose stock is mentioned in this article myself, and OD financial information Conference & Expo in,. Main business drivers revenue per hundredweight they will eventually move back to 2004, ODFL paid dividends $... Economic demand has gone soft zacks Investment research, Old Dominion Freight Line, trucking. Tractors, and OD financial information forms to receive your Freight where need. 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