Old Dominion Freight Line, Inc., (ODFL), Thursday posted a higher profit for the first quarter, reflecting higher revenues. Earnings also exceeded analyst estimates.
For the quarter, the company recorded net income of $40.6 million or $0.47 per share, compared with $31.1 million or $0.36 per share in the same quarter last year.
On average, eighteen analysts polled by Thomson Reuters expected earnings per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.
For the three-month period, the company generated revenues of $532.6 million, a 7.1 percent increase from $497.1 million reported last year. Analyst expected the company to report revenues of $531.74 million for the quarter.
Net capital expenditure for the quarter was $26.1 million, which included the expansion and relocation of eight service centers to improve capacity.
For comments and feedback: editorial@rttnews.com