ODFL’s First-Quarter Profit Jumps
Old Dominion Freight Line’s first-quarter profit almost tripled on higher tonnage, the less-than-truckload carrier said Wednesday.
Net income rose to $21.6 million, or 38 cents a share, from $7.7 million, or 14 cents, a year ago. Revenue jumped 33% to $422.7 million.
Shipments improved 20.9% and revenue per hundredweight increased 11.1%, driven by higher base pricing and fuel surcharges, the company said.
Old Dominion Freight Line is ranked No. 20 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
