Thomasville, N.C.-based less-than-truckload carrier Old Dominion Freight Line posted net income of $229.5 million in Q4 2025, compared with $263.1 million during the same time the previous year. (Old Dominion Freight Line)
February 4, 2026 3:37 PM, EST
Key Takeaways:
- Old Dominion Freight Line reported fourth-quarter 2025 revenue down 5.7% to $1.31 billion and net income down to $229.5 million.
- Executives said lower tons per day drove the decline, though yield improved and service metrics like 99% on-time performance and a 0.1% cargo claims ratio remained strong.
- The company expects technology and capacity investments to boost efficiency and position it to gain market share when freight demand recovers in 2026.
Old Dominion Freight Line doubled down on improving operations and services after reporting a drop in revenue for the fourth quarter of 2025.
The Thomasville, N.C.-based less-than-truckload carrier posted net income of $229.5 million, or $1.09 a diluted share, for the three months ending Dec. 31. That compared with $263.1 million, $1.23, during the same time the previous year. Total revenue decreased 5.7% to $1.31 billion from $1.39 billion.
“Old Dominion produced solid financial results during the fourth quarter that reflect our ongoing commitment to revenue quality and cost discipline,” ODFL President Marty Freeman said during a Feb. 4 call with investors. “We once again delivered best-in-class service to our customers, and our yield continued to improve. Although our operating ratio increased to a 76.7 for the quarter, we believe our profitability metrics will continue to lead our industry.”
Freeman added that the LTL carrier operated efficiently despite the challenging environment. He noted ODFL has remained focused on what is in its control to ensure that the company can continue to deliver value to customers.
“Our customers know that they can expect the highest standard of service from Old Dominion every day, which positions them to drive value for their own customers,” Freeman said. “We are pleased to once again provide 99% on-time service in the fourth quarter and a cargo claims ratio of 0.1%. Our track record of consistently delivering superior service has helped us to win market share over the long term while also supporting our ongoing commitment to revenue quality.”
Freeman said ODFL has maintained a disciplined approach to yield management that is designed to offset cost inflation over the long term, with the team managing discretionary spending. These efforts allowed for investments in capacity, technology and its workforce.
“While these investments have increased our overhead cost in the short term, we believe they will support our ability to grow with customers in the years ahead,” Freeman said. “Our consistent investment in capital expenditures throughout this economic cycle has differentiated us from our competitors over time. This is also a fundamental component of our value proposition, which has been critical to our ability to win more market share over the last decade.”
Freeman noted efforts to enhance productivity and business processes were made possible by key technology investments despite a loss of network density due to a decrease in volume. He’s optimistic these efforts will improve ODFL’s operating ratio once the freight market improves.
“As we begin 2026, we are cautiously optimistic that we will see some recovery and demand within the industry,” Freeman said. “We are better positioned than any other carrier to capitalize on improving economy. As a result, we are confident in our ability to win market share, generate profitable revenue growths and increase shareholder value over the long term.”
For the full year, ODFL reported net income of $1.02 billion, $4.84, on revenue of $5.5 billion, compared with net income of $1.19 billion, $5.48, on revenue of $5.82 billion in 2024.
Old Dominion Freight Line Reports Fourth Quarter 2025 Earni…
ODFL said its primary LTL services experienced a revenue decline of 5.6% to $1.3 billion from $1.37 billion during the prior-year period. The report noted that the decrease in quarterly revenue was primarily due to a 10.7% decline in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight. The loss in tons per day reflected a decrease in LTL shipments per day and LTL weight per shipment. However, LTL revenue per hundredweight excluding fuel surcharges managed to increase 4.9%.
ODFL ranks No. 9 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 2 on the LTL list. It also ranks No. 48 on the TT Top 50 global freight companies list.
