$ODFL · OLD DOMINION FREIGHT LINE, INC.
Old Dominion Freight Line filed its Q3 FY2026 10-Q. Revenue from operations grew 13.1% YoY to $1.591B, net income rose 26.9% to $343.7M, and diluted EPS increased 28.9% to $1.65. Operating ratio improved 280bps to 71.5%. LTL tonnage fell 0.1% in the quarter and 4.0% year-to-date, while LTL revenue per hundredweight rose. The company repurchased $397.4M of stock in the first nine months, with $1.15B remaining under its $3.0B authorization.
- Revenue rose 13.1% YoY to $1.591B in Q3 FY2026.
- Diluted EPS grew 28.9% to $1.65 from $1.28.
- Operating ratio improved to 71.5% from 74.3%.
- LTL tonnage fell 0.1% in Q3 and 4.0% year-to-date.
- $1.15B remains under the $3.0B stock repurchase authorization.
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ODFL delivered strong margin expansion and EPS growth despite declining volumes, underscoring pricing power in the LTL market.
ODFL's 71.5% operating ratio remains among the best in the LTL industry, with pricing-driven yield gains offsetting soft tonnage.
Declining LTL tonnage (-4.0% nine months) signals soft industrial demand; results are tied to U.S. industrial production and domestic economy health.