Old Dominion Freight Line Q2 Profit Declines, But Results Beat View

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) reported a 4.9 percent decline in profit for the second quarter from last year on slightly lower revenues and higher expenses. However, both revenue and earnings per share for the quarter beat analysts' estimates.

The company's second-quarter net income was $81.39 million or $0.98 per share, down from $85.57 million or $1.00 per share in the prior-year quarter. On average, sixteen analysts polled by Thomson Reuters expected the company to earn $0.95 per share for the quarter, Analysts' estimates typically exclude special items.

Revenue for the quarter declined 0.9 percent to $755.44 million from $762.15 million in the year-ago period. Analysts had a consensus revenue estimate of $754.09 million.