(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.
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