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Old Dominion Freight Line Quarterly Earnings Rise Above Estimates On Sales Growth

Old Dominion Freight Line, Inc. (ODFL), a less-than-truckload (LTL) service provider, on Wednesday reported net income of $269.58 million or $2.31 per share in the second quarter compared with $147.81 million or $1.25 per share in the same quarter a year ago. On average, sixteen analysts surveyed by Thomson Reuters expected the company to report earnings of $2.09 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter jumped to $1.319 billion from $896.21 million last year. The consensus estimate was for $1.23 billion.

The Company's revenue growth in the second quarter was attributed primarily to 28.1% increase in LTL tons and a 14.9% increase in LTL revenue per hundredweight.

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