Old Dominion Freight Line Q1 Profit Surges, Results Top Estimates

Old Dominion Freight Line Inc. (ODFL) on Tuesday reported third-quarter net income of $299.75 million or $2.60 per share, up from $199.36 million or $1.70 per share in the prior-year quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $2.39 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter rose 32.9 percent to $1.50 billion from $1.13 billion in the year-ago period. Analysts had a consensus revenue estimate of $1.45 billion for the quarter.

Revenue growth was driven by a 12.0 percent increase in LTL tonnage per day and a 17.4 percent increase in LTL revenue per hundredweight.

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