Investor's Business Daily Highlights Old Dominion's Financial Success
Secret sauce in the company's strong corporate culture
THOMASVILLE, N.C. (March 20, 2014) – Old Dominion Freight Line, Inc. owes its impressive financial performance in recent years to its distinct corporate culture.
That's what Lawrence Carrel at Investor's Business Daily found in his recent report about Old Dominion, "the market's premier transportation company."
"Even though it's a public corporation, the Thomasville, N.C., less-than-truckload or LTL freight carrier tries to convey the atmosphere of a small firm where all the employees have a sense of ownership, and thus a stake in the company's success."
Carrel also attributed the company's longevity to its premium service – which includes an on-time ratio of more than 99 percent and one of the lowest claims ratio in the industry.
This commitment to service has paid off in remarkable growth. Last year, the company boasted annual revenue of $2.33 billion – a 250 percent increase from 10 years prior (the company's annual revenue was $667 million in 2003).
David Congdon, Old Dominion's CEO and president, told the publication that the company remains highly strategic in its growth strategy. "We are conservatively aggressive in our approach, and we want to earn our growth, not buy it at cheap prices."
Click here to read the full Investor's Business Daily report.
For more information about Old Dominion, visit www.odfl.com or call (800) 432-6335.
About Old Dominion Freight Line, Inc.
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) is a leading, less-than-truckload (“LTL”), union-free company providing regional, inter-regional and national LTL service. 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 throughout the world. Old Dominion’s claims ratio and on-time record are among the best in the industry. For more than 80 years, Old Dominion has been helping the world keep promises.
In 2013, Old Dominion was recognized with the following acknowledgements for company leadership in the industry:
- Mastio & Company ranked Old Dominion as No. 1 National LTL carrier for the fourth consecutive year.
- Forbes Magazine named Old Dominion as one of America’s 100 Most Trustworthy Companies.
- NASSTRAC honored the company as 2013 Carrier of the Year.
- CIO magazine recognized Old Dominion for IT Excellence with the CIO 100 Award for the fifth consecutive year.
- Inbound Logistics named the company to its 75 Green Supply Chain Partners (G75) List.
- For the 4th consecutive year, Logistics Management honored OD with the Quest for Quality Award.
- Fortune Magazine named OD as one of the Top 100 Fastest-Growing Companies.
- Inbound Logistics magazine recognized Old Dominion as a 2013 Top 100 Trucker.
- Fleet Owner magazine honors OD with Fleet of the Year Award.