ODFL Shares Plunge 9.66% on $820M Volume Surge as High-Volume Strategy Outpaces Market by 166% Since 2022

On July 30, 2025, Old Dominion Freight Line (ODFL) closed at a 9.66% decline, with a daily trading volume of $820 million—surging 82.33% from the prior day. The drop followed the company’s Q2 earnings report, which revealed a 6.1% year-over-year revenue contraction to $1.41 billion and a 14.2% dip in diluted earnings per share to $1.27. Operating income fell 15.1% to $357.9 million, driven by a 9.3% decline in LTL tons per day and a 270-basis-point rise in the operating ratio to 74.6%, reflecting higher overhead costs and depreciation expenses. CEO Marty Freeman attributed the results to a persistently soft domestic economy, noting consistent market share but headwinds from reduced shipment volumes and elevated benefit costs.

Despite the revenue decline, ODFL maintained disciplined yield management, with LTL revenue per hundredweight up 5.3% year-over-year (excluding fuel surcharges). The company returned $543.1 million to shareholders through buybacks and dividends in the first half of 2025. Management emphasized long-term strategic execution, including investments in capacity and technology, while cautioning that a market recovery hinges on clarity around interest rates, trade policies, and economic stability. CFO Adam Satterfield noted cautious optimism for July, with tonnage declines moderating to 2% month-on-month compared to a typical 3%.

The backtested strategy of purchasing the top 500 stocks by daily trading volume and holding for one day achieved a 166.71% return from 2022 to the present, outperforming the 29.18% benchmark. The strategy’s excess return of 137.53% and compound annual growth rate of 31.89% highlight strong liquidity-driven performance, underscoring the potential of high-volume stocks in volatile markets.