Old Dominion Net Income Climbs 16%
Old Dominion Freight Line rode a 13% increase in shipments to raise quarterly net income 16% to $85.6 million, or $1 per share.
The volume increase helped to improve the operating ratio at Old Dominion, the No. 4 LTL on the Transport Topics Top 100 list, to 81.5, as revenue climbed 8.8% to $762.2 million for the 11th-largest carrier in the United States and Canada.
“These . . . results reflect our continued ability to win market share,” CEO David Congdon said. “We remain committed to the substantial and ongoing investments necessary to provide capacity for further growth.”
Old Dominion’s revenue per hundred weight slipped 0.8%, also including fuel surcharges.
