Old Dominion’s 1Q Profit Rises
Old Dominion Freight Line on Thursday reported a higher first-quarter profit and said its revenue climbed to a record high.
Net income rose to $31.1 million, or 54 cents per share, from $21.6 million, or 38 cents, a year ago.
Revenue jumped 17.6% to $497 million, the less-than-truckload carrier said in a statement. Total tons rose 10.7% and shipments increased 9.5%.
Capital expenditures for the quarter were $89.4 million, which included the relocation and expansion of two service centers, the company said.
Old Dominion Freight Line is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
