In its upcoming report, Old Dominion Freight Line (ODFL) is predicted by Wall Street analysts to post quarterly earnings of $1.06 per share, reflecting a decline of 13.8% compared to the same period last year. Revenues are forecasted to be $1.3 billion, representing a year-over-year decrease of 6.5%.
The consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Old Dominion metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Total revenue- Other services' will reach $14.55 million. The estimate indicates a year-over-year change of +7.5%.
The combined assessment of analysts suggests that 'Total revenue- LTL services' will likely reach $1.27 billion. The estimate indicates a change of -7.1% from the prior-year quarter.
Analysts forecast 'Operating Ratio' to reach 77.3%. Compared to the current estimate, the company reported 75.9% in the same quarter of the previous year.
The consensus estimate for 'LTL tonnage per day' stands at 32 thousands of ton per day. The estimate compares to the year-ago value of 34 thousands of ton per day.
According to the collective judgment of analysts, 'LTL shipments per day' should come in at 42.56 thousand. The estimate compares to the year-ago value of 45.76 thousand.
The average prediction of analysts places 'LTL revenue per hundredweight' at $33.49 . The estimate compares to the year-ago value of $32.10 .
It is projected by analysts that the 'LTL revenue per hundredweight, excluding fuel surcharges' will reach $28.59 . Compared to the current estimate, the company reported $27.52 in the same quarter of the previous year.
Analysts' assessment points toward 'Work days' reaching 62 days. The estimate compares to the year-ago value of 62 days.
The consensus among analysts is that 'LTL shipments' will reach 2,639 . Compared to the present estimate, the company reported 2,837 in the same quarter last year.
Analysts expect 'LTL tons' to come in at 1924 thousands of tons. The estimate compares to the year-ago value of 2130 thousands of tons.
Based on the collective assessment of analysts, 'LTL weight per shipment (lbs.)' should arrive at $1459.4 pounds. The estimate compares to the year-ago value of $1501.0 pounds.
The collective assessment of analysts points to an estimated 'LTL revenue per shipment' of $476.84 . The estimate is in contrast to the year-ago figure of $481.91 .
View all Key Company Metrics for Old Dominion here>>>
Shares of Old Dominion have demonstrated returns of +13.7% over the past month compared to the Zacks S&P 500 composite's +1.8% change. With a Zacks Rank #4 (Sell), ODFL is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Old Dominion Freight Line, Inc. (ODFL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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