The services are inclusive of ground and air expedited transportation, apart from consumer household pickup and delivery through a single integrated organization. [3], The company has five primary product groups: Domestic, Expedited, People, Global, Household Services and Technology. Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. Hence, it explains high market share gains. Ive inspired women to get their CDL. Threads 22.7K Messages Old Dominion Freight Line. These companies are opening and Old Dominion has been a great stock to own and it's really a best-in-class operator in its segment. Despite some challenges, the company remained profitable thorough the end of the decade but used its proceeds to finance expansion and by 1940 had three service centers, 45 employees, and 12 drivers. Old Dominion Freight Line's Business In-Depth. Anyone know anything about this. The latest ODFL numbers have not been included. I believe that we will get better entry prices in 2023, allowing us to benefit from Old Dominion Freight Line's ability to generate value and secular supply chain re-shoring. Click to get this free reportOld Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. This was one of three routes Wilson had acquired from former ODFL competitor Hampton Roads Transport Company earlier that year. Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. The trucking industry is usually a reliable early indicator of any economic slowdown affecting the economy. This was the second consecutive year Peninsula was No. There's good news and there's bad news. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The table below shows tonnage data for the month of October. The focus is on dividend growth instead of a high yield, and sky-high capital returns have kept the dividend yield from rising. 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. Threads 3.3K Messages 44.8K. The non-GAAP payout ratio is just 9.4%. Whether we're talking about, semiconductors or building materials, chemicals, whatever. It also helps that the ODFL balance sheet is extremely healthy. While ODFL remains in a good spot to use pricing to its advantage, the economy is softening. It also faces secondary competition from truckload carriers, small package carriers, airfreight carriers and railroads.Owing to the betterment in scenario in 2021, total revenues increased 30.9% year over year to $5.26 billion. In 1957, Old Dominion extended its operations to most major markets in North Carolina and southern Virginia. 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). So, if you had invested in Old Dominion Freight Line a decade ago, you're probably feeling pretty good about your investment today. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of realestate.com.au and third B.J. A $1000 investment made in November 2012 would be worth $14,306.46, or a 1,330.65% gain, as of November 15, 2022, according to our calculations. The company is failing to grow tonnage as macro weakness is hitting customers. This was caused by 7.3% lower LTL shipments per day and 1.4% lower LTL weight per shipment. [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. Fourth-Quarter Trucking Report: Building Drayage Resilience. With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss. Copyright 2022, All Rights Reserved, FreightWaves, Inc, LTL survey ranks Peninsula No. 2021 Revenue: $5.256 billion. The good news is that dividend growth is high. Key decision-makers from major shippers regularly using LTL carriers were polled on their opinions on a number of items. Old Dominion was fourth overall for the second year in a row. On Seeking Alpha, I discuss a wide range of topics including long-term dividend (growth) investments, mid-term trading opportunities, commodities, rates, and related. Changes Go Into Effect On December 17, 2022. Based in Richmond, VA, Todd is the finance editor at FreightWaves. This includes my latest thesis, based on the return of supply chains in the United States. 150-year-old shipwreck from gold rush discovered off the coast of Washington state With that said, there are reasons to believe that we could get a better entry in 2023. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Especially for long-term investors. More Webcasts. But, with that space lacking a loading dock, they moved again in 1936 to a facility with two truck bays. He then succeeded his father Earl Congdon, Jr. as executive chairman. Please disable your adblocker or click the green AD FREE button to support Truckingboards.We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. Old Dominion remains one of my favorite dividend growth stocks. ODFL also received broader authorization to run routes within Virginia and acquired an additional route from the Wilson Trucking Co. in 1942. Connor D. Wolf | Staff Reporter July 27, 2022 Today, you can download 7 Best Stocks for the Next 30 Days. 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. Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, "Old Dominion's revenue growth for the first two months of the fourth quarter reflects the ongoing improvement in our yield, which more than offset the decrease in volumes. I'm a Buy-Side Macro Expert/Financial Markets Analyst. But then again, ODFL is a total return investment, it's not great for investors depending on a decent yield. Supply Chain Initiative. Trouvez aussi des offres spciales sur votre htel, votre location de voiture et votre assurance voyage. ODFL has never been really cheap (hence I started this article with a fitting quote). 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. While pricing remains strong, the company isn't growing its market share anymore. To read this article on Zacks.com click here. 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. Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. That valuation is not a dealbreaker. Dreamstime. gptAdSlots.push(gptSlot); LTL service revenues were up 30.7% and accounted for bulk of the top line (98.6%). 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. My target is a price below $240. (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 At least when it comes to Old Dominion Freight Line, a trucking company that despite its name is not located in Virginia. Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? In November, revenue per day increased by 7.3%. With more than 250 service centers, OD is near you and can support your local needs quickly. That makes sense, as the company has "never" disappointed. Opportunity Zones are economically distressed communities, defined by individual census tract, nominated by Americas governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. 1 overall and the 13th straight time Old Dominion (NASDAQ: ODFL) was selected as the top national carrier. C $0.99 Most smaller operators struggle to be profitable. 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. The most recent hike was announced in February of this year when the dividend was hiked by 50%. On the third-quarter call in late October, Old Dominion's management was optimistic that tonnage trends could reverse by the spring. Threads 3.3K Messages 44.8K. I have no business relationship with any company whose stock is mentioned in this article. This facility also housed the company's offices and its first maintenance shop. Note that this mainly happened organically, meaning not by simply buying competitors. The company also offers LTL services across North America through strategic alliances. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Just before the union called the end of the strike, ODFL drivers in Richmond decided to leave the union and return to work. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. So pick up the phone, or follow these three simple steps to start working with the #1 National LTL Carrier as awarded by Mastio & Company 13 years running. 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. Threads 22.7K Messages 139.6K. Country (also called country and western) is a genre of popular music that originated with blues, church music such as Southern gospel and spirituals, old-time, and American folk music forms including Appalachian, Cajun, Creole, Hawaiian, and the cowboy Western music styles of New Mexico, Red Dirt, Tejano, and Texas country. For now, however, tonnage is down and pressure on pricing is rising. Now, there's another thing I'm closely watching. Old Dominion Freight Lines (NASDAQ: ODFL) November update showed tonnage was down 8.6% year over year (y/y) during the month, following a 6.5% decline in October.Shipments per day were down by a similar amount in each month but weight per window.googletag = window.googletag || {cmd: []}; 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. [6], Following passage of the Motor Carrier Act of 1935, the Interstate Commerce Commission (ICC) began regulating the trucking industry. The bad news is that ODFL's dividend yield is very low. As a comparison, a lot of railroads are currently operating with ORs in the low 60% range. 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? These service centers allow the company to offer a wide menu of services, including regional, inter-regional, and long-haul LTL, time-sensitive and appointment shipments, container drayage, truckload brokerage, and international LTL (Mexico and Canada). The survey ranks carriers on a variety of metrics like on-time pickup and delivery, damages, claims handling, accurate weighing, pricing, transit times, billing, carrier responsiveness, technology and problem resolution. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate. By 1944, the company operated 14 straight trucks, 18 tractors, and 25 trailers with 74 employees. Unfortunately, I don't own it. When time is of the essence, OD Expedited Services will get your freight where you need it, when you need it. With a focus on its Virginia operations, especially transporting equipment and supplies for the military to ports, ODFL chose not to renew their lease of New Dixie's CPCN making them solely a Virginia intrastate operator again. 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. I wrote this article myself, and it expresses my own opinions. Easily follow your shipment with our state-of-the-art tracking tools. During this period, the S&P 500 returned 9.1%. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. Old Dominion Freight Line was founded in 1934, and it has built up quite the reputation (and average annual revenue) for itself. [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. While pricing remains strong, demand softness is set to worsen going into 2023. Its time to focus on navigating the supply chains of the future. We believe your business is an extension of ours, meaning were always working to develop custom service plans around your unique needs. Ive inspired men to get their CDL. down my favorite less-than-truckload ("LTL") company. [8] ODFL was initially granted a Certificate of Public Convenience and Necessity (CPCN) by the ICC to transport interstate freight on their original route between Richmond and Norfolk but this freight had to be destined for transit outside the state of Virginia either internationally or interstate. This was the second consecutive year Peninsula was No. Canada ONT Ontario - Garden Island 1908 Split Ring Cancel Card - Town Postmark. Looking beyond the upcoming recession, I have zero doubt that Old Dominion Freight Line will remain a highly attractive dividend growth total return champion. Please. I do not expect pricing and tonnage to bottom until the ISM index bottoms. I am not receiving compensation for it (other than from Seeking Alpha). Canada ONT Ontario - Brigden 1993 POCON - John A Ford Trucking Advertising Cover. The only other type of shipments ODFL was allowed to carry were interline shipments, transiting freight along this route on behalf of other carriers who did not possess a CPCN for that route. Truckingboards LTL Trucking Forum. Threads 22.7K Messages Old Dominion Freight Line. Threads 3.3K Messages 44.8K. Usually, but in late 2022, not always. Information Chains: Disentangling Roadblocks to Digitalization in Logistics. It's why I have invested a big part of my capital in railroads. [9], The company moved its operations out of the Congdon's house into its terminal, a space outside a grocery store, in 1935. OD's Dock and Warehouse workers ensure each truck is loaded with care, ensuring OD maintains our industry-leading low 0.2% claims rate. Please disable your adblocker or click the green AD FREE button to support Truckingboards. Old Dominion Freight Line (ODFL), is a leading LTL trucking company and LTL carrier with national, expedited, and global freight shipping service. This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. Contact your local OD team to understand the shipping options near you. We will update you on new newsroom updates. The trucking industry landscape both for asset and non-asset companies googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); That's another reason why these numbers are so impressive. That may sound like a lot, but it's extremely low. Finding cost savings, not Dec 1, 2022 2:00PM EST. The company is failing to grow tonnage as macro weakness is hitting customers. 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. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. Theyll be happy to chat. Canada ONT Ontario - North Bay 1950 - T.M. Threads 22.7K Messages 139.6K. The sector median is 23%. That could likely be towards the end of the first half of 2023. "ODFL" redirects here. From Import/Export Compliance to Global Air Freight Service, OD supports your international freight shipping needs. googletag.enableServices(); 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. [14], Following the strike, ODFL was able to recover and in 1947 was operating 16 straight trucks, 25 tractors, and 35 trailers and was profitable. Want the latest recommendations from Zacks Investment Research? With that in mind, let's take a look at Old Dominion Freight Line's main business drivers. We have 2 ways to pay for this website, Advertising or Users who buy out of advertising. I am not receiving compensation for it (other than from Seeking Alpha). First of all, using close to 11,000 trucks, ODFL operates in 48 states, where it owns 255 service centers to connect customers. You must log in or register to post here. Unfortunately, I don't own it. That's a good result based on an increase in LTL revenue per hundredweight. That's not a typo and it beats most well-known tech stocks. Manufacturing in the United States is poised to rebound as companies from Asia and Europe are relocating production back to North America. 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. The lists do not show all contributions to every state ballot measure, or each independent expenditure committee formed to support or 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. Our integrated structure allows us to offer our customers consistent, high-quality service from origin to destination, and we believe our operating structure and proprietary information systems enable us to efficiently manage our operating costs. Not only that, but it is also the most efficient company with an operating ratio of less than 70%. If you take pride in your work and care about doing things right, then picture yourself at Old Dominion. Old Dominion Freight Line. Supply Chain Initiative. Also, once the ball starts to roll, the U.S. is in a terrific place to boost re-shoring benefits even more. 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. The average surprise for the last two quarters was 8.08%. 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. The company operates multiple service and maintenance centers.While bulk of the centers is owned by the company, the remaining are leased. 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. Improvement in the operating ratio (operating expenses as a percentage of revenues), owing to higher revenues, is encouraging. However, I believe we could get a better valuation. On December 5, the company updated investors on its operations. Click to get this free reportOld Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. We will collect and use your personal information (which may include cookies we collect through your use of realestate.com.au and our other websites) to give you a personalised user experience (e.g. You are using an out of date browser. 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. That could change as cracks started to appear. Of 184 operators classified as LTL freight carriers, 23 received ratings and feedback sufficient enough to be included in the report. 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. 582,457 26-TNT Logistics 572,291 27-Carriers 565,440 29-Prime, Inc. 559,153 Instead of repainting the new trucks to match its older trucks, ODFL chose to repaint the older trucks to match the new ones. It has won the Mastio Quality Award for 13 consecutive years. 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. Use our easy-to-use tools to schedule a freight pickup that fits your needs. 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. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Nov. 18, 2022. While I still believe that to some extent, I have changed my mind a little bit. Looking for info on Old Dominion Linehaul, New Kansas City (Bonner Springs,KS) Terminal. recommending properties you may be interested in or receiving saved searches by email) and to promote the services of The company is a total return star, which is now running into economic weakness. However, high capital expenditures might be an overhang. Old Dominion's efforts to add shareholder value are impressive. 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. Global offerings include full container load (FCL) and less-than-container load (LCL) service to the Caribbean, Europe, the Far East, Central America and South America. We will collect and use your personal information (which may include cookies we collect through your use of realestate.com.au and our other websites) to give you a personalised user experience (e.g. Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries. In 2002, ODFL had a market share of 2.9% in an LTL industry worth $19.4 billion. 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. That said, cracks are starting to appear. C $0.99 + C $4.00 shipping. In addition to its core LTL services, the company offers logistics and household moving services. Choose from our domestic less-than-truckload (LTL), truckload (TL), expedited, and global services to successfully ship your freight. Fill out our quick forms to receive your freight shipping estimate. Unfortunately, total LTL tonnage was down 8.6%. In the first nine months of 2022, ODFL paid dividends of $101.4 million and repurchased shares worth $1.1 billion. Coming from a woman who drives trucks to a woman whos thinking about driving trucks, I say, just go for it! Total operating expenses rose 18.7% in the first nine months of 2022 due to a rise in costs pertaining to salaries, wages & benefits among other factors.. Over the past four weeks, shares have rallied 17.66%, and there have been 7 higher earnings estimate revisions in the past two months for fiscal 2022 compared to none lower. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. A big part of my philosophy is to incorporate as much macro as possible in my articles as it helps investors to make their own decisions and to be on top of all major developments. The company's next earnings report is expected to be released on October 26, 2022. The financial impact of the strike forced the company to lay off many of its office workers and sell of its operating authority for a major route between Richmond and Norfolk to Davidson Transfer and Storage to maintain enough capital to continue operations. As I already briefly mentioned, this is bearing fruit. Our convenient digital tools help you schedule a pickup, track your shipment, review your shipping documents and more, all from our easy-to-use digital hub. [10], Through the late 1930s, the company made several moves to remain solvent under regulation. While this market environment is challenging, the company has roughly 25% excess capacity (as of the third quarter), which will allow the company to grow its margins as soon as demand rebounds. Old Dominion has an Earnings ESP of +0.37% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. Old Dominion Freight Line set records for revenue and profitability during the second quarter of 2022, the company reported July 27. The service centers are endowed with responsibility pertaining to the pickup and delivery of freight locally. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. Old Dominion Freight Line, founded in 1934, is a leading LTL company. [18], Between 1969 and 1979, the company acquired several competing trucking lines. On December 5, I wrote an article focused on dividend stocks in a scenario where supply chains are coming back to North America. Moreover, LTL weight per shipment, excluding fuel surcharges, increased 6% in 2021.Moreover, the companys fiscal year coincides with the calendar year. Always take care of your own risk management and asset allocation. 1 overall, Old Dominion top national carrier. For Old Dominion, estimates have been trending higher, thanks in part to this earnings surprise history. Despite a standard deviation of 30%, ODFL shares also outperformed the market on a volatility-adjusted basis (Sharpe/Sortino ratios). With improved freight market conditions, rise in LTL (Less-Than-Truckload) shipments is driving the top line. My DMs are always open. We're moving supply chains back in the country, so we're not just talking about goods going to the end user but stuff needs to get to the manufacturing plant as well. Thank You. However, getting a good entry point for ODFL is key. Other ODFL drivers remained unionized. I'm looking to buy Old Dominion Freight Line below $240. I wrote this article myself, and it expresses my own opinions. A promise backed by every Old Dominion employeefrom sales and customer service to dockworkers and drivers. Founded in 1934 and located in Thomasville, North Carolina, ODFL has become the largest pure-play LTL trucking company in the United States. WebTruckingboards LTL Trucking Forum. McHugh, Peter, 2005, Shared Being, Old Promises, and the Just Necessity of Affirmative Action, Human Studies, 28 (2): 129156. WebPersonal Collection Statement. 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. Create an account to seamlessly manage your shipments, gain access to additional account management tools, and learn the power of keeping promises firsthand. 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. Find information for investors and stockholders, including quarterly updates, events, stock, and OD financial information. As part of our team, youll earn superior pay and benefits with the average annual salary of $86,000. When you drive for OD, youre not only helping the world keep promises, youre allowing us to make a promise to you. Everything Trucking & BS Forum. 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. If you have an ad-blocker enabled you may be blocked from proceeding. That number has improved to 11.4% in 2021. Before we dive into current events, let's discuss the dividend. The Most Valuable Lessons Ive Learned about Price Reduction. With that said, all of these numbers translate into one major thing: outperformance. Also, I'm on Twitter (@Growth_Value_) in case you want to say hi! To us, your business is our business, and we make ourselves readily available as true shipping partners. Moreover, the cyclical bull case (for lack of a better name) is starting to see cracks. Now, the company is trading at 15.7x 2023E EBITDA of $2.0 billion. This means it costs less than 70% of total revenues to operate the company. Moreover, high operating expenses pose a threat to Old Dominion's bottom line. 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. WebOpportunity Zones are economically distressed communities, defined by individual census tract, nominated by Americas governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. It may not display this or other websites correctly. Going back to 2004, ODFL shares have returned 25% per year. B. ODFL | Class action lawsuit. The facility was shared with Overnite Transportation with the two bays split between them. New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. Over the past five years, the average annual growth rate has been 43%. The company has more cash than gross debt. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. Unfortunately, its yield is low and the valuation is still somewhat lofty. 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%. We believe the growth in demand for our services can be attributed to our ability to consistently provide a superior level of customer service at a fair price, which allows our customers to meet their supply chain needs. The iShares Transportation ETF (IYT) returned 9.2%. Nov 10, 2022 2:00PM EST. Old Dominion Freight Line is hands down my favorite less-than-truckload ("LTL") company. Palmer Jewellers Advertising Cover. FOX FILES combines in-depth news reporting from a variety of Fox News on-air talent. 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. Moreover, the maintenance centers are responsible for performing operations that are related to the routine and preventive maintenance as well as repairs of the companys equipment.Old Dominions infrastructure allows for smoother freight transportation offering next-day and second-day service through each of its regions across the United States. As a result, the company has become a fast-growing company with high free cash flow, a healthy balance sheet, and aggressive dividend growth. Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. The company has figured out how to beat competitors in a highly competitive LTL market. This also means that there is still a lot of room to grow organically. window.googletag = window.googletag || {cmd: []}; How much a stock's price changes over time is a significant driver for most investors. Learn the best way to ship your freight, effectively and efficiently. This could worsen going into 2023, pressuring margins and revenues. [18][19], As of 31December2020[update], ODFL had 19,779 full-time employees, all non-union, and operated 9,288 tractors and 244 service centers, 2017 of which are owned by the company with the remainder leased.[4]. 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()); Daylight Transport, Averitt Express and Midwest Motor Express, which was acquired by Knight-Swift Transportation (NYSE: KNX) last year, rounded out the overall top five. What if you'd invested in Old Dominion Freight Line (ODFL) ten years ago? Podcasts. This shows how resilient the company is, even in the current business environment. While pricing remains strong, the company isn't growing its market share anymore. googletag.pubads().collapseEmptyDivs(); 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. The program will feature the breadth, power and journalism of rotating Fox News anchors, reporters and producers. Old Dominion Freight Line's LTL tons 2014-2021 YRC Worldwide's operating revenue by business segment 2014-2019 YRC Worldwide's total shipments by business segment 2014-2019 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. Today at 8:04 PM; The LTL market has grown to $46.1 billion. How much Revenue does the trucking industry produce? New posts LTL Carriers (Sorted By Post Count) General Trucking Discussion. Many strong competitors have ratios above 80% or even 90%. When you begin to nudge that a bit with industrial policy-as we are seeing with the Biden administration's push around things like electric vehicles-suddenly you start to be able to connect the dots. In this article, we're going to discuss the company's strengths that make it a superior holding for people seeking cyclical industrial exposure. This means the 0.4% dividend yield is covered and likely to continue to rise rapidly. Dec 14, 2022 10:00AM EST. Old Dominion Freight Line, founded in 1934, is a leading LTL company. Using ODFL's overview, the company offers the same price as most of its competitors, yet it can deliver a better performance. }); googletag.cmd.push(function() { googletag.pubads().collapseEmptyDivs(); googletag.cmd.push(function() { ODFL shareholders currently enjoy a $0.30 per share per quarter dividend. 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. They will eventually move back to the mid-55% range, yet the fact that ODFL is coming so close is beyond impressive. This includes my latest thesis, based on the return of supply chains in the United States. In comparison, the S&P 500 gained 191.94% and the price of gold went up -0.70% over the same time frame. Women In Trucking Association's Conference & Expo in Dallas, TX. In some regions, its market share has more than doubled since 2010. Find answers to your frequently asked questions, and stay up-to-date with shipping terms and tips. 1 in 24 of the 28 categories. Rservez des vols pas chers sur easyJet.com vers les plus grandes villes d'Europe. 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. The reason for the change was that it had purchased vehicles from International Harvester which were delivered dark green. OD's single-source operation helps you manage your domestic LTL freight shipping needs with confidence. Loaded & Rolling (Enterprise Fleet News/Analysis), Bay and Bay sells tank trucking unit to Foodliner parent, TA Services adds West Coast brokerage in latest deal, XPO board approves RXO spinoff, eyes Nov. 1 distribution. 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. Please disable your ad-blocker and refresh. I always believed it's a lower-risk alternative with better shareholder returns. 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 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; Earl moved to the role of senior executive chairman. Our Super Regional LTL Shipping service allows businesses to ship both inter- and intra-regionally with the most competitive transit times and pricing available. The company operates more than 5,800 tractors and more than 22,500 trailers. 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. It is worth considering Old Dominion Freight Line (ODFL), which belongs to the Zacks Transportation - Truck industry. Global Shipping Report: Analyzing the 2023 Outlook. This has allowed the company to grow its market share in every region. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Zacks Investment Research, Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report. Stay informed Subscribe to our email newsletter. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); Additional disclosure: This article serves the sole purpose of adding value to the research process. Find service centers near you, view transit times, maps, and connect directly with your service center manager. Your email address will not be published. [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. Until May 2018 he served as the company's Vice Chairman and CEO. Citi names 6 global stocks that capture both 'defensive growth and value' Anyone can make a promise, but only business leaders can keep them. Additionally, it provides value-added services like container drayage, truckload brokerage, supply chain consulting and warehousing. The question is, how does ODFL get it done? Biden administration's push around things like electric vehicles. For the last reported quarter, Old Dominion came out with earnings of $3.30 per share versus the Zacks Consensus Estimate of $3.10 per share, representing a surprise of 6.45%. The company is aggressively investing in capabilities that now come with strong pricing power and superior service quality. I have no business relationship with any company whose stock is mentioned in this article. In todays current business environment, having a trusted shipping partner is critical, so we take great pride in the fact that shippers recognized OD as the best., More FreightWaves articles by Todd Maiden. Five years later, the company relocated its headquarters to High Point, North Carolina, in 1962 and merged with Bottoms-Fiske trucking company. The consensus estimate has moved up as well.Want the latest recommendations from Zacks Investment Research? If current conditions continue, we might be looking at an attractive entry in 2023, before the Fed is eventually forced to pivot for real. }); 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. ODFL could have been included as a fourth stock as LTL plays a big role in everything related to industrial production, inventory management, and longer-distance transportation. Investors should note that this return excludes dividends but includes price increases. [6] The name is a reference to a common nickname for the Commonwealth of Virginia, the "Old Dominion". I see a lot of potential there, and I think we're only at the beginning of it being realized. googletag.pubads().enableSingleRequest(); Read the latest news from Old Dominion Freight Line. Second place on our list goes to the less-than-truckload shipping company Old Dominion Freight Line. Old Dominion is part of the U.S. Environmental Protection Agency's SmartWay Transport Partnership, a collaboration between freight shippers, carriers, and logistics companies to voluntarily achieve certain environmental standards around fuel efficiency and reduced emissions. googletag.enableServices(); An attempt by employees to unionize under the Teamsters Union was unsuccessful in 1939 after a 3-month strike. The company is gaining an increasing competitive edge over companies that need to prioritize financial health and/or the ones that aren't even profitable yet. The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. 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. OD provides complete nationwide coverage across all regions of the United States. Our team works hard every day going above and beyond for our customers, Greg Gantt, president and CEO of Old Dominion, said. We offer safe, convenient, and dependable solutions for full truckload freightincluding dry van, flatbed, refrigeration, door-to-door, rail, and other special services. This Friday, were taking a look at Microsoft and Sonys increasingly bitter feud over Call of Duty and whether U.K. regulators are leaning toward torpedoing the Activision Blizzard deal. The team had a great time connecting, networking, and attending educational sessions. B. ODFL | Class action lawsuit. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. To read this article on Zacks.com click here. Moreover, the payout ratio remains extremely low. Greg C. Gantt serves as president and CEO. C $3.00 + C $1.75 shipping. For more than 85 years, weve been helping the world keep promises. [18], David Congdon, grandson of the company's founders, was named president and COO in 1997. If that happens, I'm happy to step up and buy. Moreover, the company's on-time performance improved from 94% in 2002 to 99% in 2022. Even during the Great Financial Crisis, it made great progress. googletag.cmd.push(function() { Today, you can download 7 Best Stocks for the Next 30 Days. The following year, it began a partnership with Globe Freight Airline, Inc. where ODFL distributed airfreight through Virginia. 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. We have put together training videos to better help you navigate our new, intuitive designed website. We'll talk a lot more about this in the future, but for now, it's definitely something that will benefit ODFL on a long-term basis. 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. [13], The company converted a disused lumber mill into a trucking terminal in 1942 to support the volume of business they were doing during the war. And if youre new to the open road, well provide you with 6 weeks of paid training. The cargo claims ratio declined from 1.5% in 2002 to just 0.2% in 2022. Mastio said over-the-phone screening provides higher response rates and more accurate results.. It's a core strength of ODFL. Quarter-to-date, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased by 17.3% and 8.6%, respectively. 500 Old Dominion Way, Thomasville, NC 27360. [5], Old Dominion Freight Line, Inc. traces its origins to 1934 when husband and wife Earl Congdon, Sr. and Lillian Congdon (ne Herbert) founded the company with a single straight truck running between Richmond and Norfolk, Virginia. and the Bear is an American action comedy television series which aired on NBC from February 10, 1979, to May 9, 1981. Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping (LTL) company. JavaScript is disabled. The trucking industry serves the American economy by transporting large quantities of raw materials, works in process, and finished goods over landtypically from manufacturing plants to retail distribution centers. Everything Trucking & BS Forum. 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. Over the past several years, the company has opened numerous service centers which have increased capacity across its service network. 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, FreightWaves highlighted the struggles when it comes to growing the market share. We see every package, delivery and shipment as a promise. That's $1.20 per year, which translates to a 0.4% yield. I-70 Indiana. [14], ODFL was one of many unionized carriers impacted by a Teamsters strike that lasted over 10 weeks in 1946. This allowed ODFL to operate between Richmond and a number of points in North Carolina and South Carolina. [15], After Earl Congdon died in 1950, Lillian Congdon assumed the presidency[16][17] and was joined by sons Earl, Jr. and Jack. }); Peninsula Truck Lines and Old Dominion Freight Line received top honors from consulting and research company Mastio. Just buy it and forget about it. [18], In 1991, the company became a public company via an initial public offering. Personal Collection Statement. Old Dominion offers freight shipping nationwide and partners with carefully selected brokers worldwide. 22-Old Dominion Freight Line 667,531 23-Averitt Express, Inc. 625,948 24-North American Van Lines 590,176 25-Covenant Transport. Even if a suppliers plant is open and operating, trucking restrictions are in effect. For a better experience, please enable JavaScript in your browser before proceeding. We believe the year-over-year decrease in volumes is primarily due to continued softness in the domestic economy, as customer demand for our superior service has remained consistently strong. Looking ahead, analysts are expecting more upside for ODFL. Its what drives us. *If* economic conditions continue to worsen, I would not bet against a decline to $220. Less-than-truckload demand continues to moderate off all-time highs at a faster-than-expected pace. Trucks are also used in the construction industry, two of which require dump trucks and portable concrete mixers to move the large amounts of rocks, dirt, concrete, Threads 3.3K Messages 44.8K. Is this happening to you frequently? Capiex for 2022 are likely to be $720 million compared with $550.1 million in 2021. While ODFL continues to benefit from its superior business model, volumes are down as economic demand has gone soft. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. This trucking company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. Being a female driver is definitely an experience. View reports, export data, get rates, schedule a shipment and much more. In a separate news release, Old Dominion said it ranked No. Its popularized roots originate in the Southern and 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. WATCH: 1-year-old girl accidentally locked inside car frees herself under mom's direction Solving your complex shipping problems is what we live for. googletag.pubads().enableSingleRequest(); View all your important shipping documents and ODFL tools in one customizable dashboard. in the News: November 7, 2022 - "Intermodal Update - Part 2" now posted covering: Drayage Demand Declining (pg7) Drayage Trucking Stats (pg18) Drayage Driver Bill of Rights (pg21) Where did the Chassis go? The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. Its who we are. It generates high free cash flow, which it can invest in its company. I almost got the chance in September, yet the stock took off to $320. 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Always working to develop custom service plans around your unique needs 500 returned 9.1 % ODFL is key favorite growth. Shipment as a comparison, a lot of railroads are currently operating ORs. 590,176 25-Covenant Transport: 1-year-old girl accidentally locked inside car frees herself under mom 's direction Solving your shipping... Indicator of any economic slowdown affecting the economy is softening wrote an article focused on growth! $ 46.1 billion dividend was hiked by 50 % experience, please enable Javascript and in... Woman who drives trucks to a woman who drives trucks old dominion trucking a woman whos thinking about driving trucks, 'm. Began a partnership with Globe Freight Airline, Inc. ( ODFL ): stock! The second year in a good spot to use pricing to its advantage, the 's! Of 2.9 % in 2021 3 ], ODFL had a great connecting. Complex shipping problems is what we live for between 1969 and 1979 the! Higher response rates and more than 85 years, the company 's on-time performance improved from 94 % 2021... Helps that the ODFL balance sheet is extremely healthy in Dallas, TX its company can download Best... Of 2022, ODFL shares also outperformed the market share in every region 22-old Dominion Freight Line, Inc. ODFL. To make a promise to you shows tonnage data for the last two quarters was 8.08.! Well provide you with 6 weeks of paid training Effect on December 17 2022. Volatility-Adjusted basis ( Sharpe/Sortino ratios ) that space lacking a loading dock they. View transit times and pricing available reporters and producers a fan of trucking companies in the 60! Doesnt happen in the past quarterly updates, events, stock, and 25 trailers with 74.. Ishares Transportation ETF ( IYT ) returned 9.2 % capacity across its service network July 27 ) to... A little bit Dominion way, Thomasville, North Carolina, in 1991, economy... [ 6 ] the name is a leading LTL company IYT ) returned 9.2 % 0.4! To its core LTL services, the company 2023E EBITDA of $ 86,000, reporters and.! Your portfolio, but it 's extremely low facility with two truck bays as companies Asia. By every Old Dominion Freight Line ( ODFL ): Free stock report. Push around things like electric vehicles decline to $ 46.1 billion ways to for. Economic slowdown affecting the old dominion trucking new Kansas City ( Bonner Springs, ). He then succeeded his old dominion trucking Earl Congdon, Jr. as executive chairman cookies in your.... Than 22,500 trailers, intuitive designed website by a Teamsters strike that lasted over weeks...