Yahoo Finance Old Dominion Freight Line (ODFL) Reports Q2: Everything You Need To Know Ahead Of Earnings
Freight carrier Old Dominion (NASDAQGS:ODFL) will be reporting results tomorrow before the bell. Here's what investors should know.
Old Dominion Freight Line met analysts' revenue expectations last quarter, reporting revenues of $1.46 billion, up 1.2% year on year. It was a slower quarter for the company, with a miss of analysts' volume and earnings estimates.
Is Old Dominion Freight Line a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Old Dominion Freight Line's revenue to grow 6.5% year on year to $1.50 billion, a reversal from the 15.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.45 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 six times over the last two years.
Looking at Old Dominion Freight Line's peers in the transportation and logistics segment, only FedEx has reported results so far. It met analysts' revenue estimates and delivered flat year-on-year revenue. The stock traded up 15.5% on the results.
Read our full analysis of FedEx's earnings results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 6.5% on average over the last month. Old Dominion Freight Line is up 10.9% during the same time and is heading into earnings with an average analyst price target of $195.1 (compared to the current share price of $195.31).
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