Old Dominion Freight Line Q2 Profit Rises, Beats Estimates - Quick Facts

(RTTNews) - Old Dominion Freight Line, Inc. (ODFL) reported that its second-quarter net income rose to $73.85 million or $0.86 per share from $58.26 million or $0.68 per share in the year-ago period.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.83 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 19 percent to $703.00 million from $590.30 million in the year-ago period. Analysts expected revenue of $391.76 million for the quarter.

David Congdon, President and Chief Executive Officer of Old Dominion said, "Old Dominion's growth accelerated in the second quarter, driving record results for our quarterly revenue, tonnage and earnings. In addition, we improved our operating ratio by 100 basis points over the prior-year period to 82.5%, which is the best quarterly operating ratio in our Company's history."