Old Dominion Freight Line, Inc. reported financial results for the third quarter of 2026, which ended September 30, 2026. The company announced diluted earnings per share of $1.65 for the quarter, an increase of 28.9% compared to the same period in the prior year. Total revenue for the three months was $1.59 billion, representing a 13.1% increase over the $1.41 billion reported in the third quarter of 2025.
The company’s operating ratio improved to 71.5% for the third quarter of 2026, up from 74.3% in the prior year. Operating income increased by 25.4% year-over-year to $452.6 million. Net income for the quarter was $343.7 million, a 26.9% increase from the $270.9 million reported in the third quarter of 2025.
Old Dominion’s President and CEO, Marty Freeman, stated that the revenue increase was primarily driven by a 13.3% rise in LTL revenue per hundredweight. This was partially offset by a 0.1% decrease in LTL tons per day. The company noted that LTL tons per day increased on a year-over-year basis in September. Excluding fuel surcharges, LTL revenue per hundredweight increased by 5.1%.
Regarding capital allocation, the company reported net cash provided by operating activities of $469.5 million for the third quarter of 2026. As of September 30, 2026, the company held $466.2 million in cash and cash equivalents. Capital expenditures for the quarter were $67.1 million. The company expects total capital expenditures for 2026 to be approximately $380 million, allocated to real estate and service center expansion projects ($180 million), tractors and trailers ($155 million), and information technology and other assets ($45 million).
During the first nine months of 2026, the company utilized $400.6 million for share repurchases and paid $180.7 million in cash dividends. The company also reported service metrics for the quarter, including 99% on-time service and a claims ratio of 0.1%.
