Old Dominion’s 3Q Income More Than Doubles
Old Dominion Freight Line said Wednesday its third-quarter income more than doubled on stronger less-than-truckload pricing.
Its profit jumped to $24.4 million, or 44 cents per share, from $10.5 million, or 19 cents, a year ago. Revenue rose 22.7% to $396 million.
“We anticipate further strengthening in the overall industry pricing environment due to reduced capacity in the LTL industry and as general rate increases that have been recently announced by a number of other LTL carriers take effect,” CEO David Congdon said in a statement.
Old Dominion Freight Line is ranked No. 20 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
