Freight carrier Old Dominion (NASDAQ: ODFL) will be announcing earnings results this Wednesday before market open. Here’s what to expect.
Old Dominion Freight Line met analysts’ revenue expectations last quarter, reporting revenues of $1.41 billion, down 4.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.
Is Old Dominion Freight Line a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Old Dominion Freight Line’s revenue to decline 6.1% year on year to $1.30 billion, improving from the 7.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Old Dominion Freight Line has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Old Dominion Freight Line’s peers in the ground transportation segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Landstar’s revenues decreased 2.9% year on year, missing analysts’ expectations by 1.4%, and Knight-Swift Transportation reported flat revenue, falling short of estimates by 2.4%. Landstar traded down 2.3% following the results while Knight-Swift Transportation was up 2.6%.
Read our full analysis of Landstar’s results here and Knight-Swift Transportation’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 7.1% on average over the last month. Old Dominion Freight Line is up 13.8% during the same time and is heading into earnings with an average analyst price target of $167.79 (compared to the current share price of $185.87).
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