Financial PerformanceOld Dominion Freight Line's 1Q24 earnings were in line with expectations, yet its view of 2Q24 margins and 2024 pricing were more conservative than anticipated.
Market ExpectationsThe analyst has lowered the price objective to $205 from $223, based on tempered growth outlook on yield moderation and sub-seasonal margins.
Operating EfficiencyOld Dominion Freight Line noted it has 30% excess capacity, the high end of its targeted range of 25-30%, which could indicate underutilization.