Old Dominion Freight Line Inc (ODFL) released its first quarter results on Friday, April 23, 2021. The company reported net earnings of $1.70 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 53 percent compared to the same period a year ago.
Old Dominion Freight Line, Inc. was founded in 1934 and is based in Thomasville, North Carolina. Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation.
Old Dominion Freight Line's revenue increased 1 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 36.31% for the first quarter compared to the same period in the previous year, and operating margins increased to 23.94% over the same period. Net earnings for past trailing twelve months were $738.86 million, up 20% from the prior year.
Moving on to the balance sheet, Old Dominion Freight Line’s cash levels dropped 1% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 22.69% this past year. The current ratio for Old Dominion Freight Line now stands at 2.38. The company decreased shares outstanding by 2.07%.
Shares of ODFL are currently trading around $257.76. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 41.1 and price to book ratio of 9.47.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, April 24, 2021.