Old Dominion Freight

Q2 FY2026 EarningsQ2 FY26 results beat consensus across the board: revenue of $1,554M vs. $1,539M expected, and diluted EPS of $1.68 vs. $1.53 expected. The 10.4% YoY revenue growth was driven by a significant 15.2% increase in LTL revenue per hundredweight (yield), which offset a 4.1% decline in tonnage. Operating ratio improved substantially to 70.1% vs. 74.6% in the prior year, benefiting from yield discipline and asset gains. Management updated FY26 Capex guidance to $380M, up from the initial plan, signaling confidence in long-term capacity requirements despite near-term volume softness.