Old Dominion Freight Line Inc. (NASDAQ:ODFL) on Wednesday reported upbeat first-quarter 2026 results.
Revenue declined 2.9% year over year to $1.335 billion, topping analyst expectations of $1.312 billion. The decrease was driven by a 7.7% drop in less-than-truckload (LTL) tons per day, reflecting a 7.9% decline in shipments per day during the quarter.
Net income decreased 6.4% to $238.3 million. Earnings came in at $1.14 per share, down 4.2% year over year but above the consensus estimate of $1.06.
Marty Freeman, President and Chief Executive Officer of Old Dominion, said, “Old Dominion’s first quarter financial results reflect a continuation of encouraging trends that started developing late last year. While our first quarter revenue decreased on a year-over-year basis, demand for our LTL service improved as the quarter progressed. The improvement in demand, coupled with our ability to consistently deliver superior service to our customers, contributed to both the acceleration in our LTL volumes and improvement in our yield during the quarter. Our industry-leading service metrics for the first quarter once again included 99% on-time service and a claims ratio below 0.1%. These service standards form the foundation of our unmatched value proposition, which we believe will support our ability to win market share over the long term.”
For fiscal 2026, Old Dominion continues to expect aggregate capital expenditures of approximately $265 million.
Old Dominion shares gained 1.1% to trade at $211.61 on Thursday.
These analysts made changes to their price targets on Old Dominion following earnings announcement.
- Stephens & Co. analyst Brady Lierz maintained the stock with an Overweight rating and raised the price target from $232 to $240.
- Wells Fargo analyst Christian Wetherbee maintained the stock with an Equal-Weight rating and raised the price target from $200 to $205.
- Barclays analyst Brandon Oglenski maintained the stock with an Equal-Weight rating and raised the price target from $185 to $210.
- Evercore ISI Group analyst Jonathan Chappell maintained the stock with an In-Line rating and raised the price target from $201 to $219.
Considering buying ODFL stock? Here’s what analysts think:
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