(Take a good long look at my avatar and tell me I don't know what I'm talking about, because I've already been there with this corp!)
This is not Preston, and you don't know what your talking about.
Welch inherited a company with more than its share of financial issues, considering it lost more than $2.6 billion going back to 2007. But under his watch, things are clearly getting better. This was made clear in November, when the company announced that for the third quarter it an had operating profit of $27.3 million on top of a $15.5 million operating profit in the second quarter, marking the first time in four years that YRC, which is the second-largest LTL carrier behind FedEx Freight, posted two straight quarters of operating profit.
What’s more, YRCW issued more good news in February for its 2012 earnings, reporting a positive annual operating income. And its consolidated operating revenue for 2012—at $4.851 billion—was down 0.4 percent compared to 2011, but its consolidated operating income increased $162.3 million to $24.1 million, including a $9.7 million gain on asset disposals, marking its first positive annual consolidated operating income in six years. It reported that 2012 consolidated operating revenue at $4.869 billion and a consolidated operating loss of $138.2 million, including an $8.2 million gain on asset disposals. EBITDA for 2012 at $241.2 million represented an $82.0 million improvement over 2011.
P.S.
If it is truly that painful for you here; just quit. It's a free Country.. Well, at least for a few more years, anyway
we keep down sizing and old dominion keeps growing adding terminals and wait read no mention of editba that you love to quoTe all the time cause companys don report that way unless there in a real bad financial place
Old Dominion Freight Line Inc. : Old Dominion 2013 First Quarter Earnings Release
04/26/2013| 06:26am US/Eastern
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0
FOR IMMEDIATE RELEASE Contact: J. Wes Frye
Senior Vice President, Finance and
Chief Financial Officer
(336) 822-5305
OLD DOMINION FREIGHT LINE REPORTS 30.6% GROWTH IN 2013 FIRST-QUARTER EARNINGS PER DILUTED SHARE TO $0.47
First-Quarter Operating Ratio Improves 150 Basis Points to 87.6%
THOMASVILLE, N.C. - (April 25, 2013) - Old Dominion Freight Line, Inc. (NASDAQ: ODFL) today announced financial results for the three-month period ended March 31, 2013. Revenue for the quarter was $532.6 million, a 7.1% increase over $497.1 million for the first quarter of 2012. Net income increased 30.4% to $40.6 million for the first quarter of 2013 from $31.1 million for the first quarter last year, while earnings per diluted share rose 30.6% to $0.47 from $0.36. Old Dominion's operating ratio was 87.6% for the first quarter of 2013 compared with 89.1% for the first quarter of 2012. All prior-period share and per share data in this release have been adjusted to reflect the Company's September 2012 three-for-two stock split.
David S. Congdon, President and Chief Executive Officer of Old Dominion, commented, "Old Dominion is off to a strong start in 2013, as we set a new Company record for our first-quarter operating ratio and increased our earnings per share by 30.6%. We produced these results despite the fact that the 2013 first quarter included Good Friday, which occurred in the second quarter of 2012, and had one less business day than the first quarter of last year. In addition, the winter weather in the first quarter of 2013 was more severe than we experienced in the first quarter of 2012. Even with these headwinds and a less than robust economic environment, we generated revenue growth for the quarter that consisted of a 5.2% increase in tons per day and a 2.9% increase in revenue per hundredweight, excluding fuel surcharges. We believe our growth reflects our ongoing ability to win market share by providing a value proposition that consists of delivering on-time, claims-free service at a fair and equitable price.
"We improved our primary service metrics during the first quarter of 2013, lowering our cargo claims ratio to a record
0.34% and driving our on-time delivery percentage above 99%. We believe the quality of our service, and a positive yield environment, also supported our ability to improve pricing. As a result, our revenue per hundredweight increased for the quarter despite the negative pressure on this metric caused by the 0.9% increase in weight per shipment and 1.1% decline in length of haul. The combination of the increase in revenue per hundredweight and our tonnage growth, which improved freight density and certain operational efficiencies, was primarily responsible for the 150 basis-point improvement in our operating ratio to 87.6% as compared to the first quarter of 2012.
"Net capital expenditures for the first quarter were $26.1 million, which included the expansion and relocation of eight service centers to improve our capacity. We also opened two new service centers in Flagstaff, Arizona and Santa Maria, California, bringing our total service centers in operation at the end of the quarter to 219. We expect net capital expenditures for 2013 to total approximately $270 million, which we plan to fund primarily with cash flow from operations. These expenditures include $95 million for real estate purchases and expansion projects at existing service centers, $150 million for trailers, tractors and other equipment and $25 million for technology and other assets. Our 2013 capital expenditures should provide additional service center and equipment capacity to support continued increases in our market share. The strength of our balance sheet also provides us with the ability to capitalize on future growth opportunities and market consolidation. At March 31, 2013, our ratio of total debt to capitalization improved 190 basis points to 17.1% from 19.0% at the end of 2012."
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ODFL Reports First-Quarter Financial Results
Page 2
April 25, 2013
Mr. Congdon concluded, "Old Dominion's strong financial and operating performance in a challenging operating environment reflects the dedication of the entire Old Dominion team and validates our value proposition and business model. We are confident in our proven ability to execute our growth strategies, win additional market share and outperform our industry. As a result, we look forward to the remainder of 2013 and our prospects for creating additional value for our shareholders."
this is fed x freight 2010 loss money in 1st quater do you see editba noFedEx Freight Segment
For the first quarter, the FedEx Freight segment reported:
Revenue of $1.26 billion, up 28% from last year's $982 million
Operating loss of $16 million, compared with operating income of $2 million a year ago
Operating margin of (1.3%), compared with 0.2% the previous year
LTL average daily shipments increased 29% and yield declined 3% year over year primarily due to the effects of discounted pricing in contracts signed in fiscal 2010. However, yields increased 4% from the fourth quarter as a result of the company's recent yield management initiatives to improve pricing.
Operating losses in the quarter were driven by lower yields and higher volume-related costs, as significantly higher shipment levels required increased purchased transportation and other expenses.
SO TAKE YOUR EDITBA AND STICK IT STOP DRINKING THE KOOL AID JUST LIKE LOWER AND MIDDLE MANAGMENT ON THE EDITBA NUMBERS