Old Dominion Freight Line Reports Third Quarter 2022 Earnings Per Diluted Share of $3.36

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[{"type":"text","content":"\nOperating Ratio Improves to 69.1%\n\n THOMASVILLE, N.C.--(BUSINESS WIRE)--\nOld Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month and nine-month periods ended September 30, 2022. The financial results for the third quarter of 2022 include a one-time reduction in salaries, wages and benefit expense of $15.8 million attributable to the termination of the employment agreement with the Company's Executive Chairman in August 2022. While our Executive Chairman remains employed by the Company, the termination of this agreement eliminated the accrued obligations for certain post-employment benefits.\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nNine Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except per share amounts)\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n% Chg.\n\n\n\n \n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n% Chg.\n\n\n\n \n\n\n\n\n\nTotal revenue\n\n\n\n$\n\n\n\n1,603,690\n\n\n\n \n\n\n\n$\n\n\n\n1,400,046\n\n\n\n \n\n\n\n \n\n\n\n14.5\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n4,768,418\n\n\n\n \n\n\n\n$\n\n\n\n3,845,970\n\n\n\n \n\n\n\n \n\n\n\n24.0\n\n\n\n%\n\n\n\n\n\nLTL services revenue\n\n\n\n$\n\n\n\n1,582,952\n\n\n\n \n\n\n\n$\n\n\n\n1,378,339\n\n\n\n \n\n\n\n \n\n\n\n14.8\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n4,703,392\n\n\n\n \n\n\n\n$\n\n\n\n3,787,721\n\n\n\n \n\n\n\n \n\n\n\n24.2\n\n\n\n%\n\n\n\n\n\nOther services revenue\n\n\n\n$\n\n\n\n20,738\n\n\n\n \n\n\n\n$\n\n\n\n21,707\n\n\n\n \n\n\n\n \n\n\n\n(4.5\n\n\n\n)%\n\n\n\n \n\n\n\n$\n\n\n\n65,026\n\n\n\n \n\n\n\n$\n\n\n\n58,249\n\n\n\n \n\n\n\n \n\n\n\n11.6\n\n\n\n%\n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n496,080\n\n\n\n \n\n\n\n$\n\n\n\n383,410\n\n\n\n \n\n\n\n \n\n\n\n29.4\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,410,403\n\n\n\n \n\n\n\n$\n\n\n\n1,019,111\n\n\n\n \n\n\n\n \n\n\n\n38.4\n\n\n\n%\n\n\n\n\n\nOperating ratio\n\n\n\n \n\n\n\n69.1\n\n\n\n%\n\n\n\n \n\n\n\n72.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n70.4\n\n\n\n%\n\n\n\n \n\n\n\n73.5\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet income\n\n\n\n$\n\n\n\n377,401\n\n\n\n \n\n\n\n$\n\n\n\n286,634\n\n\n\n \n\n\n\n \n\n\n\n31.7\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,053,230\n\n\n...

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