ODFL · 10-Q · 2026Q3 · Full report

Operating Margin Drivers

OLD DOMINION FREIGHT LINE, INC. · 2026-11-04 · Importance 55 · Surprise 48 · No source text

The operating ratio improved to 71.5% in third-quarter 2026 from 74.3% a year earlier and to 72.4% for the first nine months from 74.8%. Operating income was 28.5% of revenue in the quarter and 27.6% for the nine-month period, compared with 25.7% and 25.2%, respectively, in 2025. Management attributed the improvement to higher revenue, yield discipline, operating efficiency, and control of discretionary spending. Productive labor costs fell to 21.8% and 22.5% of revenue in the quarter and nine-month period, respectively, from 24.1% and 24.4% a year earlier.

Key facts

• OLD DOMINION FREIGHT LINE, INC.’s productive labor costs improved to 21.8% of revenue in Q3 2026 and 22.5% in the first nine months of 2026, from 24.1% and 24.4% in the comparable 2025 periods. source
• OLD DOMINION FREIGHT LINE, INC.’s Q3 2026 net income increased 26.9% and diluted earnings per share increased 28.9% year over year. source
• OLD DOMINION FREIGHT LINE, INC.’s net income increased 17.4% and diluted earnings per share increased 19.5% in the first nine months of 2026 year over year. source
• OLD DOMINION FREIGHT LINE, INC.’s operating ratio was 71.5% in Q3 2026 and 72.4% in the first nine months of 2026. source

Impact estimates