$ODFL

OLD DOMINION FREIGHT LINE INC/VA

CIK:0000878927|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue from operations	$ 1,554,004	$ 1,407,724	$ 2,888,700	$ 2,782,582
Operating expenses:
Salaries, wages and benefits	687,348	672,093	1,325,643	1,330,178
Operating supplies and expenses	177,683	142,457	324,401	292,349
General supplies and expenses	46,413	41,676	93,482	81,556
Operating taxes and licenses	34,293	34,983	67,322	70,586
Insurance and claims	18,919	18,794	36,625	36,274
Communications and utilities	8,190	9,296	17,812	20,099
Depreciation and amortization	91,708	90,663	184,015	179,795
Purchased transportation	33,779	28,544	61,541	56,207
Miscellaneous (income) expense, net	(9,630)	11,323	(4,783)	19,588
Total operating expenses	1,088,703	1,049,829	2,106,058	2,086,632
Operating income	465,301	357,895	782,642	695,950
Non-operating (income) expense:
Interest expense	76	6	375	8
Interest income	(2,441)	(684)	(4,721)	(2,346)
Other expense, net	198	1,357	1,842	2,428
Total non-operating (income) expense	(2,167)	679	(2,504)	90
Income before income taxes	467,468	357,216	785,146	695,860
Provision for income taxes	116,867	88,590	196,287	172,574
Net income	$ 350,601	$ 268,626	$ 588,859	$ 523,286
Earnings per share:
Basic	$ 1.69	$ 1.27	$ 2.83	$ 2.47
Diluted	$ 1.68	$ 1.27	$ 2.82	$ 2.46
Weighted average shares outstanding:
Basic	207,659	211,083	207,966	211,739
Diluted	208,715	212,164	209,014	212,821
Dividends declared per share	$ 0.29	$ 0.28	$ 0.58	$ 0.56

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 588,859	$ 523,286
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	184,017	179,800
(Gain) loss on disposal of property and equipment	(20,067)	3,335
Other, net	17,285	15,033
Changes in operating assets and liabilities, net	(123,759)	(99,088)
Net cash provided by operating activities	646,335	622,366
Cash flows from investing activities:
Purchase of property and equipment	(139,611)	(275,313)
Proceeds from sale of property and equipment	39,397	7,062
Other investing	3,168	100
Net cash used in investing activities	(97,046)	(268,151)
Cash flows from financing activities:
Payments for share repurchases	(239,712)	(424,584)
Dividends paid	(120,666)	(118,527)
Principal payments under long-term debt agreements	(20,000)	(20,000)
Net borrowings under our credit agreement	0	130,000
Other financing activities, net	(5,063)	(5,723)
Net cash used in financing activities	(385,441)	(438,834)
Increase (decrease) in cash and cash equivalents	163,848	(84,619)
Cash and cash equivalents at beginning of period	120,091	108,676
Cash and cash equivalents at end of period	$ 283,939	$ 24,057

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 283,939	$ 120,091
Customer receivables, less allowances of $9,530 and $7,924, respectively	594,540	471,947
Income taxes receivable	8,114	0
Other receivables	23,483	22,392
Prepaid expenses and other current assets	93,919	80,403
Total current assets	1,003,995	694,833
Property and equipment:
Revenue equipment	2,716,367	2,678,446
Land and structures	3,570,165	3,523,364
Other fixed assets	665,961	664,015
Leasehold improvements	10,300	15,654
Total property and equipment	6,962,793	6,881,479
Less: Accumulated depreciation	(2,522,323)	(2,377,275)
Net property and equipment	4,440,470	4,504,204
Other assets	291,056	271,123
Total assets	5,735,521	5,470,160
Current liabilities:
Accounts payable	80,992	62,696
Compensation and benefits	280,241	239,122
Claims and insurance accruals	80,640	78,864
Other accrued liabilities	69,511	70,078
Income taxes payable	0	13,146
Current maturities of long-term debt	19,997	20,000
Total current liabilities	531,381	483,906
Long-term liabilities:
Long-term debt	0	19,995
Other non-current liabilities	286,105	284,519
Deferred income taxes	370,683	370,683
Total long-term liabilities	656,788	675,197
Total liabilities	1,188,169	1,159,103
Commitments and contingent liabilities
Shareholders' equity:
Common stock - $0.10 par value, 560,000,000 shares authorized, 207,471,296 and 208,556,788 shares outstanding at June 30, 2026 and December 31, 2025, respectively	20,747	20,856
Capital in excess of par value	237,510	234,597
Retained earnings	4,289,095	4,055,604
Total shareholders’ equity	4,547,352	4,311,057
Total liabilities and shareholders’ equity	$ 5,735,521	$ 5,470,160