Old Dominion Freight Line reported third-quarter net income of $343.7 million, up 26.9% year over year, as revenue rose 13.1% to $1.59 billion, supported by stronger LTL revenue per hundredweight despite a small tonnage decline.
Old Dominion noted that the reported statistics had not been audited. Old Dominion said revenue growth was driven primarily by a 13.3% increase in LTL revenue per hundredweight.
Average weight per shipment rose 1.9%, cushioning a 2% decline in daily shipments; total daily tonnage edged down 0.1%.
Operating income increased 25.4% to $452.6 million, and diluted earnings per share rose 28.9% to $1.65. The operating ratio, which compares operating expenses with revenue, improved to 71.5% from 74.3%. Old Dominion said salaries, wages and benefits took a smaller share of revenue and that it tightened discretionary spending.
During the first nine months of 2026, the company repurchased $400.6 million of shares and paid $180.7 million in dividends, according to its earnings release.
A Form 8-K filed with the Securities and Exchange Commission on Wednesday, Oct. 28, lists the results under Item 2.02 and financial statements and exhibits under Item 9.01.
