Old Dominion Freight Line

ODFL is a leading, less-than-truckload, union-free company providing premium service to all its customers. Old Dominion Freight Line, Inc. (NASDAQ: ODFL) is a leading, less-than-truckload (“LTL”), union-free company providing premium service to all its customers. OD offers regional, inter-regional and national LTL services. 

In addition to its core LTL services, the company offers its customers a broad range of logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage, container delivery and warehousing. In addition, Old Dominion offers a consumer product for household moving: OD Household Services. 

Through strategic partnerships, the company also offers international freight forwarding services worldwide. Old Dominion’s claims ratio and on-time record are among the best in the industry. For 80 years, Old Dominion has been Helping the World Keep Promises.

Old Dominion Freight Line is a company that provides trucking services for general commodities. It was founded in 1934 in Richmond, Virginia, by Earl Congdon, Sr. Initially, the company operated out of the Congdon's house, but after receiving the coveted authority from the Interstate Commerce Commission (ICC) to transport general commodities with no limitations, the company moved its operations into its terminal outside a grocery store.

Despite some challenges, Old Dominion remained profitable through the end of the decade and used its proceeds to finance expansion. By 1940, the company had three service centres, 45 employees, and 12 drivers. During World War II, Old Dominion expanded outside Virginia by buying the trucks of New Dixie Transfer and leasing New Dixie's CPCN for a year. The company converted a disused lumber mill into a trucking terminal to support the volume of business they were doing during the war.

After the war, Old Dominion was one of many unionized carriers impacted by a Teamsters strike that lasted over 10 weeks. However, following the strike, Old Dominion was able to recover and was operating 16 straight trucks, 25 tractors, and 35 trailers, and was profitable. When Earl Congdon died in 1950, his wife Lillian took over the presidency of the company.

Old Dominion extended its operations to most major markets in North Carolina and southern Virginia in 1957. In 1962, the company expanded by purchasing a High Point, North Carolina-based furniture mover, and Earl Congdon, Jr., became president. Five years later, the company relocated its headquarters to High Point, North Carolina, and merged with Bottoms-Fiske trucking company.

New acquisitions in 1969 expanded Old Dominion's reach into the Northeast and the South. With the acquisition of New Jersey-based Deaton Trucking in 1979, Old Dominion entered the market for full-load and flatbed trucking. The federal reform of trucking industry regulations through the Motor Carrier Act of 1980 prompted many changes in Old Dominion. With deregulation beginning, Old Dominion started service to the critical freight hubs Chicago and Dallas while extending common carrier LCL services to Florida, Tennessee and California.

In 1991, with greater emphasis on developing LTL services, Old Dominion discontinued its furniture shipment division and sold the general commodities truckload and flatbed freight division of its Deaton subsidiary. Despite a recession and a decade of industry volatility, Old Dominion successfully launched an initial public offering of stock in 1991. Earl Congdon Jr. wisely negotiated the challenges and opportunities of deregulation and took the company public.

Expansion continued with the acquisition of Skyline Transportation in 1999, and the company extended full-state service to 21 states east of the Mississippi River in the first half of 2000. In February 2001, Old Dominion acquired Carter & Sons Freightways, Inc. of Carrollton, Texas, to improve its service network in Texas and Oklahoma. The company continued to expand and upgrade its service centre facilities in 2003.

Old Dominion expanded into Canada, Vermont and the Dakotas in 2005, and in 2011, with the growth of E-commerce, expanded into household delivery. By 2018, Old Dominion experienced unprecedented growth, from stock price to the total number of employees. Until May of that year, Earl Congdon, Jr. served as the company's Vice Chairman and CEO, then succeeded his father as executive chairman. Today, Old Dominion is known for its commitment to customer service, reliability, and innovative transportation solutions.

Old Dominion Freight Line's mission statement reflects the company's dedication to exceeding customer expectations through innovative solutions. The company recognizes that customer satisfaction is paramount to its success, and it strives to consistently provide the highest level of service possible. This commitment to customer service is reflected in the company's focus on innovation, which enables it to stay ahead of the competition and provide new and better solutions to meet customer needs.

Old Dominion Freight Line is also committed to increasing shareholder value, recognizing that the success of the company is directly tied to the success of its shareholders. This commitment is reflected in the company's focus on financial performance and its willingness to make strategic investments that will drive long-term growth and profitability.

Finally, Old Dominion Freight Line is committed to the continued success of its employees. The company recognizes that its employees are its most valuable asset and that their dedication and hard work are critical to the company's success. To support its employees, the company provides a safe and supportive work environment, competitive compensation and benefits, and ongoing training and development opportunities to help them grow and succeed. By focusing on these key areas, Old Dominion Freight Line is able to deliver on its mission of providing innovative solutions that exceed customer expectations, increase shareholder value, and ensure the continued success of the company and its employees.

Old Dominion Freight Line's vision is to become the premier transportation solutions company in both domestic and global markets. This vision is supported by the company's focus on providing innovative solutions that exceed customer expectations, increase shareholder value, and ensure the continued success of the OD company and its employees.

To achieve this vision, Old Dominion Freight Line continuously invests in its people, technology, and infrastructure. The company provides its employees with ongoing training and development programs to enhance their skills and capabilities. Additionally, it continually invests in state-of-the-art technologies and equipment to streamline operations and provide customers with the best possible service.

Old Dominion Freight Line also prides itself on its commitment to safety, sustainability, and social responsibility. The company places a high priority on the safety of its employees, customers, and the communities it serves. It also strives to minimize its environmental impact through sustainable practices and initiatives.

As for products and services, Old Dominion Freight Line offers a wide range of transportation solutions to meet the needs of businesses of all sizes and industries. The company's core offering is Less-Than-Truckload (LTL) services, which allow customers to ship smaller quantities of freight that do not require a full truckload. Old Dominion Freight Line's LTL services are known for their reliability, speed, and flexibility.

In addition to LTL services, Old Dominion Freight Line also provides Truckload (TL) services, which are ideal for customers who need to ship larger quantities of freight. The company's TL services include dry van, refrigerated, and flatbed options, as well as specialized equipment for oversize and overweight shipments.

Old Dominion Freight Line also offers a range of value-added services to help customers manage their supply chain more efficiently. These services include expedited shipping, warehousing and distribution, and international freight forwarding. The company's international services cover more than 190 countries and territories worldwide.

Overall, Old Dominion Freight Line's products and services are designed to help customers optimize their supply chain, reduce costs, and improve operational efficiency. With a focus on innovation, safety, and sustainability, the company is well-positioned to achieve its vision of becoming the premier transportation solutions company in both domestic and global markets.