Overnite Corp. Reports Higher 2Q Earnings
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Overnite’s shareholders are scheduled to vote Aug. 4 on Overnite’s pending acquisition by UPS Inc. for $1.25 billion. (Click here for previous coverage.)
vernite Corp. reported late Wednesday its earnings improved to $23.1 million or 82 cents a share for the second quarter, up from $16.8 million or 60 cents a year ago.
The less-than-truckload carrier said its operating revenue rose to $470.6 million, a 12.4% improvement from last year’s second quarter.
The Richmond, Va.-based company said its revenue growth reflected a 5.4% rise in tons per day and a 3.9% increase in revenue per shipment, excluding fuel surcharges.
Overnite is ranked No. 20 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
