ODFL - Old Dominion Freight Line GAAP EPS of $2.65 beats by $0.01 revenue of $1.41B misses by $30M

2023-07-26 07:09:57 ET

• Old Dominion Freight Line press release ( NASDAQ: ODFL ): Q2 GAAP EPS of $2.65 beats by $0.01 .
• Revenue of $1.41B (-15.2% Y/Y) misses by $30M .
• The decrease in revenue was primarily due to the 14.1% decrease in LTL tons per day and 1.1% decrease in LTL revenue per hundredweight.
• The Company’s Board of Directors approved a new share repurchase program that authorizes Old Dominion to repurchase up to $3.0 billion of its outstanding stock. This new repurchase program will begin after the completion of the Company’s existing $2.0 billion repurchase program, which had $376.9 million remaining available and uncommitted at June 30, 2023.

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