Wrapping up Q3 earnings, we look at the numbers and key takeaways for the ground transportation stocks, including Old Dominion Freight Line (NASDAQ: ODFL) and its peers.

The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.

The 16 ground transportation stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.

Luckily, ground transportation stocks have performed well with share prices up 10.4% on average since the latest earnings results.

Old Dominion Freight Line (NASDAQ: ODFL)

With its name deriving from the Commonwealth of Virginia’s nickname, Old Dominion (NASDAQ: ODFL) delivers less-than-truckload (LTL) and full-container load freight.

Old Dominion Freight Line reported revenues of $1.41 billion, down 4.3% year on year. This print was in line with analysts’ expectations, and overall, it was a very strong quarter for the company with a solid beat of analysts’ adjusted operating income estimates.

Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s third quarter financial results include decreases in both revenue and earnings per diluted share. The decrease in our third quarter revenue was primarily due to a 9.0% decrease in our LTL tons per day, which was partially offset by an increase in our LTL revenue per hundredweight. The decrease in our LTL tons per day reflects a 7.9% decrease in our LTL shipments per day and a 1.2% decrease in our LTL weight per shipment that is generally indicative of softness in the macroeconomic environment. LTL revenue per hundredweight, excluding fuel surcharges, increased 4.7% compared to the third quarter of 2024. Our focus on consistently improving our yields remains a key element of our long-term strategic plan and is supported by the ongoing value that our customers realize from our best-in-class service. Through the hard work and dedication of the OD Family of employees, we were pleased to once again provide our customers with 99% on-time service and a cargo claims ratio of 0.1% during the third quarter."

Interestingly, the stock is up 20.3% since reporting and currently trades at $163.72.

Is now the time to buy Old Dominion Freight Line? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Hertz (NASDAQ: HTZ)

Started with a dozen Model T Fords, Hertz (NASDAQ: HTZ) is a global car rental company providing vehicle rental services to leisure and business travelers.

Hertz reported revenues of $2.48 billion, down 3.8% year on year, outperforming analysts’ expectations by 3.1%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.

Hertz delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 5.3% since reporting. It currently trades at $5.23.

Is now the time to buy Hertz? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Universal Logistics (NASDAQ: ULH)

Founded in 1932, Universal Logistics (NASDAQ: ULH) is a provider of customized transportation and logistics solutions operating throughout the United States and in Mexico, Canada, and Colombia.

Universal Logistics reported revenues of $396.8 million, down 7% year on year, falling short of analysts’ expectations by 1%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

Interestingly, the stock is up 6.2% since the results and currently trades at $16.27.

Read our full analysis of Universal Logistics’s results here.

Saia (NASDAQ: SAIA)

Pivoting its business model after realizing there was more success in delivering produce than selling it, Saia (NASDAQ: SAIA) is a provider of freight transportation solutions.

Saia reported revenues of $839.6 million, flat year on year. This print surpassed analysts’ expectations by 1%. It was an exceptional quarter as it also logged a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is up 27.3% since reporting and currently trades at $353.03.

Read our full, actionable report on Saia here, it’s free for active Edge members.

ArcBest (NASDAQ: ARCB)

Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ: ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight.

ArcBest reported revenues of $1.05 billion, down 1.4% year on year. This number met analysts’ expectations. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates.

The stock is up 14.4% since reporting and currently trades at $81.68.

Read our full, actionable report on ArcBest here, it’s free for active Edge members.

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