Old Dominion Freight Line GAAP EPS of $2.65 beats by $0.01, revenue of $1.41B misses by $30M
Old Dominion Freight Line press release  (NASDAQ:ODFL): Q2  GAAP EPS of $2.65  beats by $0.01.
Revenue of $1.41B (-15.2% Y/Y)  misses by $30M.
The decrease in revenue was primarily due to the 14.1% decrease in LTL tons per day and 1.1% decrease in LTL revenue per hundredweight.
The Companyâs Board of Directors approved a new share repurchase program that authorizes Old Dominion to repurchase up to $3.0 billion of its outstanding stock. This new repurchase program will begin after the completion of the Companyâs existing $2.0 billion repurchase program, which had $376.9 million remaining available and uncommitted at June 30, 2023.