Martin Placek
Research expert covering transportation and electronics
Old Dominion Freight Line - statistics & facts
Old Dominion Freight Line is a U.S. freight trucking company based in Thomasville, North Carolina. The company was founded in 1934 with a single truck operating between Richmond and Norfolk, Virginia. In the late 1950’s, the company expanded their operations to include most major markets in North Carolina and southern Virginia, and in 1962 they merged with the Bottoms-Fiske trucking company. Throughout the 1970’s, Old Dominion acquired a number of their competitors, before expanding their operations to include Florida, Tennessee, California, Chicago and Dallas with the deregulation of the trucking industry in the 1980’s. From the 1990’s up until the present, Old Dominion continued to expand their capacity via acquisitions, reaching full continental coverage during the 2010’s.
Financial performance
The company primarily provides less-than-truckload (LTL) shipping throughout the United States, offering regional, inter-regional and national services. In addition, Old Dominion offers a variety of logistics services, full truckload shipping, and household moving services. Through their network of agents and alliances, Old Dominion are also able to offer services to various international locations in North America, Europe and Asia. In 2020, Old Dominion reported operating revenue of four billion U.S. dollars and shipped almost 8.8 million tons of LTL freight on 10.8 million shipments.Business segments
Once all their operations are taken into consideration, Old Dominion has a market value of 29.4 billion U.S. dollars as of April 2021. This makes them the second largest trucking company in the world. In terms of revenue from their core LTL services, Old Dominion are the second largest LTL provider in North America, behind FedEx Freight. XPO Logistics’ LTL operations are of a similar size, reporting LTL revenue of over 3.5 billion U.S. dollars in 2020. However, there is a considerable distance between Old Dominion and the sector leader, FedEx Freight, who generated over 8.1 billion U.S. dollars in LTL revenue in 2021.
