NEW YORK, Feb 4, 2026, 15:35 ET — Regular session
Old Dominion Freight Line shares rose about 9% on Wednesday, lifting the ODFL stock price after the carrier reported quarterly results and raised its dividend. The stock was up 8.8% at $206.38 by 3:35 p.m. ET, after trading as low as $184.31 and as high as $208.42.
The move matters because less-than-truckload carriers, which bundle smaller shipments from many customers, are a quick read on U.S. industrial demand. Investors have been watching the group for hints that a long freight slump is finally easing.
Old Dominion’s latest numbers still showed weak traffic, but pricing held up. The company said LTL tons per day fell 10.7% in the fourth quarter as shipments per day slid 9.7%, while revenue per hundredweight — revenue per 100 pounds of freight — rose 4.9% excluding fuel surcharges. 1
For the quarter ended Dec. 31, Old Dominion earned $1.09 per share on revenue of $1.31 billion, topping Zacks Investment Research estimates of $1.06 and $1.30 billion. Revenue fell 5.7% from a year earlier and the operating ratio — operating expenses as a share of revenue — worsened to 76.7% from 75.9%, the Zacks note said. The board lifted the quarterly dividend to 29 cents per share, and the company flagged 2026 capital spending around $265 million after spending $730.3 million on buybacks in 2025. 2
President and CEO Marty Freeman called the quarter “our ongoing commitment to revenue quality and cost discipline in what remains a challenging operating environment.” He pointed to 99% on-time service and a 0.1% cargo-claims ratio. 3
A regulatory filing showed the company furnished its earnings release in a Form 8-K on Wednesday. 4
Other LTL names also traded higher: Saia rose 7.7%, XPO climbed 4.4% and ArcBest gained 5.2% in afternoon trading.
But the risk case is still right there in the volume line. If shipments do not stabilize, pricing gains may not be enough to keep margins from slipping further, especially when costs do not fall as fast as revenue.
Old Dominion held its earnings call at 10 a.m. EST, with investors listening for fresh detail on demand and spending plans. 5
