logo
Plus   Neg
Share
Email

Old Dominion Freight Line Q4 Results Beat View; Hikes Dividend - Quick Facts

Old Dominion Freight Line Inc. (ODFL) on Thursday reported a surge in profit for the fourth quarter from last year on double-digit growth in revenues. The results for the quarter beat analysts' estimates. In addition, the company's board of directors increased the quarterly dividend by 30 percent.

The company's fourth-quarter net income was $197.25 million or $2.39 per share, up from $68.51 million or $0.83 per share in the prior-year quarter.

On average, fourteen analysts polled by Thomson Reuters expected the company to earn $1.12 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 19.5 percent to $891.12 million from $745.74 million in the year-ago period. Analysts had a consensus revenue estimate of $878.45 million.

The increase in revenues consisted of a 14.4 percent increase in LTL tonnage and a 5.1 percent increase in LTL revenue per hundredweight.

The company's board of directors has declared a first-quarter dividend of $0.13 per share, which is a 30 percent increase to the quarterly dividend paid in 2017. The dividend is payable on March 20, 2018 to shareholders of record at the close of business on March 6, 2018.

David Congdon, Vice Chairman and Chief Executive Officer of Old Dominion said, "We believe that the ongoing execution of our business model, which includes a commitment to continuously invest in our employees and network capacity, will allow us to produce further profitable growth and increased shareholder value in 2018."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Nvidia Corp. (NVDA) Thursday reported a surge in its second-quarter profit, driven largely by a better-than-expected growth in revenues and strong margins. However, shares of the graphics chip maker slipped about 4 percent in extended session, as its revenue outlook for the current quarter fell short... The U.S. Food and Drug Administration Thursday approved the first generic version of Mylan's EpiPen for the emergency treatment of allergic reactions. Teva Pharmaceuticals gained the US regulator's approval to market its generic epinephrine auto-injector in 0.3 mg and 0.15 mg strengths. Shares of... Amazon.com Inc. (AMZN) is reportedly planning to acquire Landmark Theatres, as the e-commerce giant seeks to gain a foothold in the brick-and-mortar cinema industry. Bloomberg Thursday reported, citing people familiar with the situation, that Amazon is looking with other suitors to acquire the business...
Follow RTT