Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
2/6/2014 8:40:00 AM Write a Letter to the Editor Write a letter to the Editor

Old Dominion’s Earnings Rise 19.4%


TT File Photo

Old Dominion Freight Line Inc. said its fourth-quarter profit grew 19.4% as tonnage and revenue increased.

The less-than-truckload carrier’s net income was $47.2 million in the quarter, or 55 cents a share, up from $39.5 million, or 46 cents, a year earlier. Revenue grew 11% to $592.5 million.

“We were pleased with the double-digit increase in revenue for the fourth quarter, which was primarily driven by increased market share,” CEO David Congdon said in a Feb. 6 statement. “ We were also pleased with the 19.6% increase in earnings per diluted share, particularly in light of the operational challenges and increased costs resulting from the significant winter weather and more restrictive hours-of-service regulations during the fourth quarter of 2013.”

Old Dominion’s tonnage per work day rose 10.9%, while revenue per hundredweight grew 0.3%, it said.

For the full year, profit grew to $206.1 million, or $2.39 a share, from $169.5 million, or $1.97 a share, in 2012. Revenue was $2.34 billion, compared with $2.1 billion the last year.

Old Dominion Freight Line is ranked No. 11 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.

By Transport Topics


Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement