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, …