Markets

Old Dominion Freight Line Q3 Profit Down 5.4%; Results Miss View - Quick Facts

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) on Thursday reported a 5.4 percent decline in profit for the third quarter from last year on lower revenues. Both revenue and earnings per share for the quarter missed analysts' estimates.

The company's third-quarter net income was $164.10 million or $2.05 per share, down from $173.44 million or $2.12 per share in the prior-year quarter.

On average, fourteen analysts polled by Thomson Reuters expected the company to earn $2.11 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter declined 0.9 percent to $1.048 billion from $1.058 billion in the year-ago period. Analysts had a consensus revenue estimate of $1.06 billion.

Revenue for the quarter consisted of an 5.2 percent reduction in LTL tonnage per day, partially offset by a 4.4 percent increase in LTL revenue per hundredweight.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ODFL

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More