ODFL - Old Dominion Freight Line's Q3 Mixed Bag: EPS Beat Marginal Revenue Miss Amid Soft Domestic Economy | Benzinga
Old Dominion Freight Line Inc (NASDAQ: ODFL) reported a Q3 FY23 revenue decline of 5.5% Y/Y to $1.515 billion, marginally missing the consensus of $1.52 billion.
This was due to a 6.9% Y/Y decrease in LTL tons per day, partially offset by a 3.1% Y/Y increase in LTL revenue per hundredweight.
LTL tons per day decline reflects a 2.9% Y/Y decrease in LTL shipments per day and a 4.1% Y/Y decrease in LTL weight per shipment.
Also, revenue decreased by 32.4% Y/Y in the other services segment in the quarter.
Operating income decreased by 10.3% Y/Y to $445.0 million, with an operating ratio of 70.6%, compared to 69.1% a year ...