Old Dominion Q2 operating ratio improved 40 basis points to 71.9%

“Our operating ratio improved 40 basis points to 71.9% for the second quarter of 2024, due primarily to the quality of our revenue growth and continued focus on operating efficiencies. These factors allowed us to improve our direct operating costs as a percent of revenue, which more than offset the increase in our overhead expenses as a percent of revenue. The combination of the growth in revenue and operating ratio improvement resulted in the 11.3% increase in earnings per diluted share to $1.48 for the second quarter.”