Old Dominion’s 3Q Profit Jumps
Old Dominion Freight Line said Thursday its third-quarter profit rose almost 60% and its revenue reached a third-quarter record.
Net income rose to $38.6 million, or 67 cents per share, from $24.4 million, 44 cents, for the same quarter last year.
Revenue jumped 24.9% to $494.5 million, the less-than-truckload carrier said in a statement. Total tons rose 9.6% and total shipments rose 12.2%.
The company opened new service centers in Wisconsin and Pennsylvania in the quarter, and one in Ohio in October, bringing its total to 216, CEO David Congdon said in a statement.
Old Dominion Freight Line is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
