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ODFL | ODFL profits 1.3 Billion in 2021?

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MidnightRider

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ODFL’s revenue for 2021 was $5.265 billion. Their operating ratio was 73.5%. Does that mean that they kept 26.5% of every dollar earned as profit? If so, that means their profit for 2021 was around 1.393 billion.

Is this correct?
 
MidnightRider said:
ODFL’s revenue for 2021 was $5.265 billion. Their operating ratio was 73.5%. Does that mean that they kept 26.5% of every dollar earned as profit? If so, that means their profit for 2021 was around 1.393 billion.

Is this correct?
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No, it does not. It means operating expenses consumed 73.5% of operating revenue. On the surface, that sounds like 26.5% profit, but it isn't. That does not include taxes or capital expenditures. Purchases of rolling equipment, forklifts, repairs or purchase of facilities, debt service and a myriad of smaller expenses are not counted in computing operating ratio. 73.5 is amazing and net profit is probably around the billion-dollar mark.
 
MidnightRider said:
ODFL’s revenue for 2021 was $5.265 billion. Their operating ratio was 73.5%. Does that mean that they kept 26.5% of every dollar earned as profit? If so, that means their profit for 2021 was around 1.393 billion.

Is this correct?
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Is profit how much you have before taxes and internal capital investments such as new trucks, terminals etc ?
 
LTLIndentured said:
Is profit how much you have before taxes and internal capital investments such as new trucks, terminals etc ?
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I don’t know. I think that profit is whatever money is left over after you have paid for everything including taxes, fuel, equipment, building maintenance, big brother cameras, etc. I’d like to know that number. Being that ODFL is a publicly traded company, the information is probably available somewhere. I thought maybe somebody on here might know it.
 
MidnightRider said:
I don’t know. I think that profit is whatever money is left over after you have paid for everything including taxes, fuel, equipment, building maintenance, big brother cameras, etc. I’d like to know that number. Being that ODFL is a publicly traded company, the information is probably available somewhere. I thought maybe somebody on here might know it.
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Im pretty sure net income is after all expenses. You can google ODFL form 10k, go to our website and read it thru.

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Razorblade said:
Your anger is misdirected. Federal law exempts trucking companies from the forty-hour rule. Talk to your congressman.
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Just because something is legal does not make it ethical or moral. Consider insider trading; its legal for senators and congressmen. Does anyone think ( besides them) that it’s okay just because the law allows them to do it? I don’t think so.
same for the OT exemption.

It’s an archaic law that has no place today and should be abandoned, and companies such as ours that have billions of dollars shouldn’t use it as a shield to get out of doing what is right.
 
Packerfan said:
so you think its alright not to get paid O.T. after 40 hours even though under federal law your suppose to?
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Let me put it to you this way, I walked in the door and asked for a job. They told me benefits and requirements. They told me what the pay was and at the time overtime pay after 60. I accept or decline because of MY decision not what everybody else has. You or any other person walking in the door does not have to take the job. I make decisions for ME and I would hope you make decisions for you. If you don't like it don't work there.
 
Packerfan said:
Old Dominion competitors pay O.T. after 40 hours.
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What is your point??
I pointed out that the law does not require transportation companies to pay overtime after 40 hours. The law needs to be changed. Until that happens, Old Dominion will continue their overtime policy as long as market conditions allow. Are employees leaving OD because of the overtime rule? Until the law changes or OD can't fill jobs, nothing will change.
Did you know that unionized companies gladly pay overtime because it's less expensive than hiring another driver?
 
DMT said:
Let me put it to you this way, I walked in the door and asked for a job. They told me benefits and requirements. They told me what the pay was and at the time overtime pay after 60. I accept or decline because of MY decision not what everybody else has. You or any other person walking in the door does not have to take the job. I make decisions for ME and I would hope you make decisions for you. If you don't like it don't work there.
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No one said anything to me about OT after 60..Was told we work 50-55 week..I thought we’ll not to bad figuring 15 hours OT..We’ll a couple days later found out thru a Co-Worker.O’h the things we don’t talk about .lol.Well,I‘m still there after all this years..lol
 
Razorblade said:
What is your point??
I pointed out that the law does not require transportation companies to pay overtime after 40 hours. The law needs to be changed. Until that happens, Old Dominion will continue their overtime policy as long as market conditions allow. Are employees leaving OD because of the overtime rule? Until the law changes or OD can't fill jobs, nothing will change.
Did you know that unionized companies gladly pay overtime because it's less expensive than hiring another driver?
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you might want to read up on Labor Laws
 
DMT said:
Let me put it to you this way, I walked in the door and asked for a job. They told me benefits and requirements. They told me what the pay was and at the time overtime pay after 60. I accept or decline because of MY decision not what everybody else has. You or any other person walking in the door does not have to take the job. I make decisions for ME and I would hope you make decisions for you. If you don't like it don't work there.
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welp, you must like working for scab wages
 
I don't know about you guys, but when I got hired at OD, it was the best paying LTL job out there. Top pay was few bucks above all others. Thats why I took the job because it paid very good.

Right now??? Our top pay is even or less than some carriers paying overtime after 8. We are not best paid anymore.
 
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