Old Dominion Freight Line Q3 Profit Surges; Beats View - Quick Facts

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) on Thursday reported a 69.5 percent surge in profit for the third quarter from last year on double-digit growth in revenues. Earnings per share for the quarter beat analysts' estimates, while revenues matched expectations.

The company's third-quarter net income was $173.44 million or $2.12 per share, up from $102.31 million or $1.24 per share in the prior-year quarter.

On average, fifteen analysts polled by Thomson Reuters expected the company to earn $1.97 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 21.2 percent to $1.06 billion from $872.99 million in the year-ago period. Analysts had a consensus revenue estimate of $1.06 billion.

The increase in revenues consisted of an 8.1 percent increase in LTL tonnage and a 12.5 percent increase in LTL revenue per hundredweight.