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| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $4,015 | $5,256 | $6,260 | $5,866 | $5,815 |
| Gross Profit | $907 | $1,392 | $1,841 | $1,641 | $1,544 |
| Operating Income | $907 | $1,392 | $1,841 | $1,641 | $1,544 |
| Net Income | $673 | $1,034 | $1,377 | $1,240 | $1,186 |
Over the past five years, Old Dominion Freight Line, Inc. has demonstrated strong revenue and profitability growth, particularly in the early years of the period. From 2020 to 2022, revenue increased from approximately $4.02 billion to $6.26 billion, marking an over 55% growth in that timeframe. Gross profit and operating income followed a similar trend, rising from about $906 million in 2020 to $1.84 billion in 2022—a nearly 103% increase, indicating efficient cost management relative to revenue expansion. Net income also saw significant gains, climbing from $673 million to $1.38 billion between 2020 and 2022, representing a substantial improvement in operational performance. However, the growth momentum reversed slightly in 2023 and 2024, where revenue declined from $6.26 billion in 2022 to $5.87 billion in 2023 and then to $5.81 billion in 2024, amounting to a roughly 7% drop over those two years. Corresponding declines in gross profit, operating income, and net income suggest that operational challenges or market pressures may have impacted performance during this later period. The notable year-over-year swings—particularly the sharp increases from 2020 to 2022 and subsequent declines—could be driven by shifts in freight demand, capacity constraints, or evolving market conditions within the logistics industry. Overall, despite recent downturns, Old Dominion's strong early performance and its ability to generate significant earnings indicate a solid financial framework and resilient operations, though close monitoring of market dynamics remains essential for future sustainability.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.