Old Dominion Freight Line Q2 Profit Up 66%; Beats View - Quick Facts

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

The company's second-quarter net income was $163.43 million or $1.99 per share, up from $98.42 million or $1.19 per share in the prior-year quarter.

On average, fourteen analysts polled by Thomson Reuters expected the company to earn $1.83 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 23 percent to $1.03 billion from $839.91 million in the year-ago period. Analysts had a consensus revenue estimate of $1.02 billion.

The increase in revenues consisted of a 14.6 percent increase in LTL tonnage and a 7.4 percent increase in LTL revenue per hundredweight.