Old Dominion Freight Line Q1 Profit Up 66%; Results Beat View - Quick Facts

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) on Thursday reported a 66 percent surge in profit for the first quarter from last year on double-digit growth in revenues. The results for the quarter beat analysts' estimates.

The company's first-quarter net income was $109.33 million or $1.33 per share, up from $65.79 million or $0.80 per share in the prior-year quarter.

On average, fourteen analysts polled by Thomson Reuters expected the company to earn $1.30 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 22.7 percent to $925.02 million from $754.10 million in the year-ago period. Analysts had a consensus revenue estimate of $916.69 million.

The increase in revenues consisted of a 15.4 percent increase in LTL tonnage and a 5.9 percent increase in LTL revenue per hundredweight.