As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at ground transportation stocks, starting with Old Dominion Freight Line (NASDAQ: ODFL).

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 15 ground transportation stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.1%.

While some ground transportation stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.3% 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 $1.33 billion, down 2.9% year on year. This print exceeded analysts’ expectations by 1.2%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ adjusted operating income estimates.

Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s first quarter financial results reflect a continuation of encouraging trends that started developing late last year. While our first quarter revenue decreased on a year-over-year basis, demand for our LTL service improved as the quarter progressed. The improvement in demand, coupled with our ability to consistently deliver superior service to our customers, contributed to both the acceleration in our LTL volumes and improvement in our yield during the quarter. Our industry-leading service metrics for the first quarter once again included 99% on-time service and a claims ratio below 0.1%. These service standards form the foundation of our unmatched value proposition, which we believe will support our ability to win market share over the long term.

The stock is down 12% since reporting and currently trades at $195.09.

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

Best Q1: Heartland Express (NASDAQ: HTLD)

Founded by the son of a trucker, Heartland Express (NASDAQ: HTLD) offers full-truckload deliveries across the United States and Mexico.

Heartland Express reported revenues of $176.3 million, down 19.7% year on year, outperforming analysts’ expectations by 2.6%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 9.4% since reporting. It currently trades at $12.67.

Is now the time to buy Heartland Express? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: 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 $367.6 million, down 3.9% year on year, falling short of analysts’ expectations by 1.3%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Universal Logistics delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 42.9% since the results and currently trades at $12.79.

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

Schneider (NYSE: SNDR)

Employing thousands of drivers across the country to make deliveries, Schneider (NYSE: SNDR) makes full truckload and intermodal deliveries regionally and across borders.

Schneider reported revenues of $1.40 billion, flat year on year. This print lagged analysts' expectations by 0.7%. Zooming out, it was actually a very strong quarter as it put up a beat of analysts’ EPS and adjusted operating income estimates.

The stock is down 3.4% since reporting and currently trades at $30.03.

Read our full, actionable report on Schneider here, it’s free.

XPO (NYSE: XPO)

Owning a mobile game simulating freight operations for the Tour de France, XPO (NYSE: XPO) is a transportation company specializing in expedited shipping services.

XPO reported revenues of $2.10 billion, up 7.3% year on year. This number topped analysts’ expectations by 3%. Overall, it was an exceptional quarter as it also put up a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.

The stock is down 7% since reporting and currently trades at $201.58.

Read our full, actionable report on XPO here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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