Old Dominion Company Overview
What is the Stock Ticker for Old Dominion?
The stock ticker for Old Dominion is ODFL.
Where is the Old Dominion headquarters?
Old Dominion's headquarters is located in Thomasville, North Carolina.
What Does Old Dominion Do?
Old Dominion is a transportation company that provides less-than-truckload (LTL) shipping services across North America. They specialize in the transportation of goods that are too large for parcel carriers but not large enough to require a full truckload. Old Dominion offers a range of services including expedited shipping, warehousing, and supply chain consulting.
How Does Old Dominion Make Money?
Old Dominion is a transportation company that primarily generates revenue by providing less-than-truckload (LTL) shipping services. LTL shipping involves consolidating multiple smaller shipments from different customers into a single truckload, which allows for more efficient use of transportation resources and lower costs for customers. Old Dominion operates a network of over 240 service centers across the United States, which allows it to provide LTL shipping services to a wide range of customers in various industries.
In addition to LTL shipping, Old Dominion also offers other transportation services such as truckload shipping, expedited shipping, and logistics services. These services allow the company to diversify its revenue streams and provide additional value to customers.
Old Dominion generates revenue by charging customers for its transportation services based on factors such as the weight and volume of the shipment, the distance traveled, and the level of service required. The company also generates revenue from accessorial charges, which are fees charged for additional services such as liftgate delivery or inside pickup.
Overall, Old Dominion's revenue is primarily generated through its core LTL shipping services, supplemented by other transportation and logistics services. The company's focus on efficiency and customer service has allowed it to maintain a strong position in the highly competitive transportation industry.
Who Founded Old Dominion?
The founders of Old Dominion are Earl Congdon, Jr. and Lillian Congdon.
What is the History of Old Dominion?
Old Dominion Freight Line, Inc. is a transportation and logistics company based in Thomasville, North Carolina. The company was founded in 1934 by Earl and Lillian Congdon with a single truck operating in Virginia. Over the years, Old Dominion expanded its operations and became a leading less-than-truckload (LTL) carrier in the United States.
In the 1960s, Old Dominion began to expand its service area beyond Virginia and into neighboring states. By the 1980s, the company had grown to become a regional carrier serving the Southeast and Mid-Atlantic regions. In 1991, Old Dominion became a publicly traded company and continued to expand its operations through acquisitions and organic growth.
Today, Old Dominion operates a network of more than 240 service centers across the United States and offers a range of transportation and logistics services, including LTL, truckload, and supply chain solutions. The company has received numerous awards for its customer service, safety record, and operational excellence.
What Industry is Old Dominion In?
Old Dominion is in the freight transportation and logistics industry.
What Are Old Dominion's Competitive Advantages?
Old Dominion has several competitive advantages that set it apart from its competitors in the transportation industry.
1. Extensive Network: Old Dominion has a vast network of over 240 service centers across the United States, which allows it to provide reliable and efficient transportation services to customers in various industries.
2. Technology: The company has invested heavily in technology, including its proprietary transportation management system, which enables it to optimize routes, track shipments, and provide real-time updates to customers.
3. Customer Service: Old Dominion is known for its exceptional customer service, which is reflected in its high customer satisfaction ratings. The company has a team of experienced professionals who are dedicated to providing personalized solutions to meet the unique needs of each customer.
4. Operational Efficiency: Old Dominion has a highly efficient operating model that enables it to provide cost-effective transportation services without compromising on quality. The company's focus on continuous improvement and innovation has helped it to streamline its operations and reduce costs.
5. Strong Financial Position: Old Dominion has a strong financial position, with a solid balance sheet and consistent profitability. This allows the company to invest in its business and pursue growth opportunities, even during challenging economic conditions.
What Are Old Dominion's Competitive Threats?
Some competitive threats to Old Dominion include:
1. Other large freight carriers such as FedEx Freight, UPS Freight, and YRC Worldwide.
2. Regional carriers that specialize in certain areas or have a strong presence in specific regions.
3. New entrants into the market that offer innovative solutions or lower prices.
4. Disruptive technologies such as autonomous trucks or drones that could change the industry.
5. Economic downturns that could reduce demand for shipping services.
Who Are Some of the Competitors of Old Dominion?
Some competitors of Old Dominion include FedEx Freight, UPS Freight, YRC Freight, and XPO Logistics.
What Are Some of Old Dominion's Products and Services?
Some notable products or services from Old Dominion include less-than-truckload (LTL) shipping, expedited shipping, and logistics solutions. They also offer specialized services such as temperature-controlled shipping, trade show logistics, and white glove delivery.
Has Old Dominion Acquired any Companies?
Yes, Old Dominion has made several notable acquisitions, including:
- The acquisition of Pacific Coast Express in 2015, which expanded their service offerings in the western United States.
- The acquisition of Challenger Freight Systems in 2016, which expanded their presence in Canada.
- The acquisition of the container drayage and warehousing operations of Wayne, NJ-based Priority Solutions in 2018, which expanded their capabilities in the Northeast region of the United States.