ODFL

EX-99.1

2 odfl-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Contact:

Adam N. Satterfield

Executive Vice President and

Chief Financial Officer

(336) 822-5721

OLD DOMINION FREIGHT LINE REPORTS SECOND QUARTER 2026

EARNINGS PER DILUTED SHARE OF $1.68

THOMASVILLE, N.C. (July 29, 2026) – Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month and six-month periods ended June 30, 2026.

Three Months Ended

Six Months Ended

June 30,

June 30,

(In thousands, except per share amounts)

2026

2025

% Chg.

2026

2025

% Chg.

Total revenue

$

1,554,004

$

1,407,724

10.4%

$

2,888,700

$

2,782,582

3.8%

LTL services revenue

$

1,538,938

$

1,395,112

10.3%

$

2,860,829

$

2,755,951

3.8%

Other services revenue

$

15,066

$

12,612

19.5%

$

27,871

$

26,631

4.7%

Operating income

$

465,301

$

357,895

30.0%

$

782,642

$

695,950

12.5%

Operating ratio

70.1

%

74.6

%

72.9

%

75.0

%

Net income

$

350,601

$

268,626

30.5%

$

588,859

$

523,286

12.5%

Diluted earnings per share

$

1.68

$

1.27

32.3%

$

2.82

$

2.46

14.6%

Diluted weighted average shares outstanding

208,715

212,164

(1.6)%

209,014

212,821

(1.8)%

Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s second quarter financial results include a 10.4% increase in revenue, a 30.0% increase in operating income, and earnings per diluted share that match our previous Company record that we set in the third quarter of 2022. The strength of our second quarter financial results reflects continued improvement in demand trends and the benefits of our long-term focus on yield discipline and operational execution. In addition, we continued to provide our customers with best-in-class customer service with 99% on-time service and a claims ratio of 0.1%.

“Our 10.4% increase in revenue was primarily due to a 15.2% increase in our LTL revenue per hundredweight that was partially offset by a 4.1% decrease in our LTL tons per day. The decrease in our LTL tons per day reflects the net impact of a 5.7% decrease in our LTL shipments per day and a 1.7% increase in our LTL weight per shipment. LTL revenue per hundredweight, excluding fuel surcharges, increased 5.5% compared to the second quarter of 2025. Our disciplined approach to yield management is designed to offset our cost inflation over the long term while also supporting our ongoing investments in our capacity, our technology, and our people.

“Our operating ratio improved by 450 basis points to 70.1% for the second quarter of 2026. We continued to operate efficiently during the quarter and maintained our focus on revenue quality, which contributed to a 230 basis-point

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ODFL Reports Second Quarter Financial Results

Page 2

July 29, 2026

improvement in our direct operating costs as a percent of revenue. Our overhead costs as a percent of revenue also improved compared to the year-ago period, due in part to the $17.2 million of net gains from the disposal of property and equipment. The combination of revenue growth and operating ratio improvement resulted in a 32.3% increase in our earnings per diluted share to $1.68 for the second quarter.”

Cash Flow and Use of Capital

Old Dominion’s net cash provided by operating activities was $272.7 million for the second quarter of 2026 and $646.3 million for the first half of the year. The Company had $283.9 million in cash and cash equivalents at June 30, 2026.

Capital expenditures were $77.0 million for the second quarter of 2026 and $139.6 million for the first half of the year. The Company expects its aggregate capital expenditures for 2026 to total approximately $380 million. This total now includes planned expenditures of $180 million for real estate and service center expansion projects; $155 million for tractors and trailers; and $45 million for information technology and other assets.

Old Dominion continued to return capital to shareholders during the second quarter of 2026 through its share repurchase and dividend programs. For the first six months of this year, the Company utilized $239.7 million of cash for its share repurchase program and paid $120.7 million in cash dividends.

Summary

Mr. Freeman concluded, “Old Dominion produced strong profitable revenue growth in the second quarter as we continued to successfully execute on the fundamental aspects of our long-term strategic plan, the cornerstone of which remains our ability to provide our customers with superior service at a fair price. I want to thank our team for their unwavering commitment to our customers, which has created an unmatched value proposition in our industry. In addition, due to the consistent investments in our network and our people, we have all of the necessary elements of capacity to support our customers as the demand environment continues to evolve. As a result, we remain confident that we are uniquely positioned to win market share and increase

EX-99.1

2 odfl-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Contact:

Adam N. Satterfield

Executive Vice President and

Chief Financial Officer

(336) 822-5721

OLD DOMINION FREIGHT LINE REPORTS FIRST QUARTER 2026

EARNINGS PER DILUTED SHARE OF $1.14

THOMASVILLE, N.C. (April 29, 2026) – Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month period ended March 31, 2026.

Three Months Ended

March 31,

(In thousands, except per share amounts)

2026

2025

% Chg.

Total revenue

$

1,334,696

$

1,374,858

(2.9)%

LTL services revenue

$

1,321,891

$

1,360,839

(2.9)%

Other services revenue

$

12,805

$

14,019

(8.7)%

Operating income

$

317,341

$

338,055

(6.1)%

Operating ratio

76.2

%

75.4

%

Net income

$

238,258

$

254,660

(6.4)%

Diluted earnings per share

$

1.14

$

1.19

(4.2)%

Diluted weighted average shares outstanding

209,317

213,484

(2.0)%

Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, “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.

“Our revenue decreased 2.9% as compared to the first quarter of 2025. This decrease was primarily due to a 7.7% decrease in our LTL tons per day that was partially offset by an increase in our LTL revenue per hundredweight. The decrease in our LTL tons per day reflects the net impact of a 7.9% decrease in our LTL shipments per day and a 0.3% increase in our LTL weight per shipment. LTL revenue per hundredweight, excluding fuel surcharges, increased 4.4% compared to the first quarter of 2025, reflecting our long-term, disciplined approach to yield management.

- MORE -

ODFL Reports First Quarter Financial Results

Page 2

April 29, 2026

“Our operating ratio increased by 80 basis points to 76.2% for the first quarter of 2026, as the increase in our overhead costs as a percent of revenue more than offset the improvement in our direct operating costs. Our overhead costs increased as a percent of revenue primarily due to the deleveraging effect associated with the decrease in revenue as well as an overall increase in our general supplies and expenses. Our direct operating costs, however, improved as a percent of revenue due to our continued focus on revenue quality and operating efficiencies. The combination of a decrease in our revenue and an increase in our operating ratio resulted in a 4.2% reduction in our earnings per diluted share to $1.14 for the first quarter.”

Cash Flow and Use of Capital

Old Dominion’s net cash provided by operating activities was $373.6 million for the first quarter of 2026. The Company had $288.1 million in cash and cash equivalents at March 31, 2026.

Capital expenditures were $62.6 million for the first quarter of 2026. The Company expects its aggregate capital expenditures for 2026 to total approximately $265 million. This total includes planned expenditures of $125 million for real estate and service center expansion projects; $95 million for tractors and trailers; and $45 million for information technology and other assets.

Old Dominion continued to return capital to shareholders during the first quarter of 2026 through its share repurchase and dividend programs. For the quarter, the Company utilized $88.1 million of cash for its share repurchase program and paid $60.5 million in cash dividends.

Summary

Mr. Freeman concluded, “Old Dominion produced solid results during the first quarter as we continued to diligently execute our long-term strategic plan, the cornerstone of which remains our commitment to provide our customers with superior service at a fair price. Our industry-leading customer service, combined with our consistent investments in our network, our technology and our people, uniquely positions us to capitalize on an improving demand environment. Our team has all the necessary elements of capacity to effectively manage incremental volume opportunities. As a result, we are confident in our ability to win market share, generate profitable revenue growth and increase shareholder value over the long term.”

Old Dominion will hold a conference call to discuss this release today at 10:00 a.m. Eastern Time. Investors will have the opportunity to listen to the conference call live over the internet by going to ir.odfl.

8-K

false000087892700008789272026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 4, 2026

OLD DOMINION FREIGHT LINE, INC.

(Exact name of Registrant as Specified in Its Charter)

Virginia

0-19582

56-0751714

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

500 Old Dominion Way Thomasville, North Carolina

27360

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (336) 889-5000 Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock ($0.10 par value)

ODFL

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition On February 4, 2026, Old Dominion Freight Line, Inc. issued a press release regarding its financial results for its fourth quarter of 2025, ended December 31, 2025. A copy of this press release is furnished as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits (d) Exhibits

Exhibit No.

Description

99.1

Press Release dated February 4, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

OLD DOMINION FREIGHT LINE, INC.

By:

/s/ Clayton G. Brinker

Clayton G. Brinker

Vice President – Accounting and Finance

(Principal Accounting Officer)

Date: February 4, 2026