Overnite Posts Strong 4Q, Year Earnings

Overnite Transportation said Thursday it had strong growth in earnings for the fourth quarter and the year, reversing a steep loss from a year earlier.

The nationwide less-than-truckload carrier, which is owned by Union Pacific (UNP), reported a fourth-quarter operating income of $16.5 million compared to a $13.7 million loss a year ago. For the year, Overnite’s operating income was $53.5 million, up 172% from the $19.7 million last year. Overnite called it the best year since 1994. (Click here for today's earnings report from Union Pacific.)

The company said it concluded the year with an overall operating ratio of 95.2, and hit a new high of 98% on-time service performance for the fourth quarter.

Overnite has 13,000 employees and operates 167 service centers serving more than 45,000 points in all 50 states, Can-ada, Mexico, the U.S. Virgin Islands, Puerto Rico and Guam. The company is 18th on the Transport Topics 100.