Old Dominion Freight Line Earnings: What To Look For From ODFL
Freight carrier Old Dominion (NASDAQ:ODFL) will be reporting results tomorrow before market open. Here’s what to look for.
Old Dominion Freight Line met analysts’ revenue expectations last quarter, reporting revenues of $1.50 billion, up 6.1% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ volume estimates but a miss of analysts’ EBITDA estimates.
Is Old Dominion Freight Line a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Old Dominion Freight Line’s revenue to decline 1.7% year on year to $1.49 billion, improving from the 5.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.42 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 8 downward revisions over the last 30 days (we track 15 analysts).
Looking at Old Dominion Freight Line’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CSX delivered year-on-year revenue growth of 1.3%, missing analysts’ expectations by 1.5%, and FedEx reported flat revenue, falling short of estimates by 1.5%. CSX traded down 6.7% following the results while FedEx was also down 15.3%.
Read our full analysis of CSX’s results here and FedEx’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 2.3% on average over the last month. Old Dominion Freight Line is up 2% during the same time and is heading into earnings with an average analyst price target of $194.25 (compared to the current share price of $200).
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