Old Dominion Freight Line First-Quarter Net Up 13%
Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has announced that results for the three-month period ended March 31, 2014 show revenue for the first quarter of 2014 was $620.3 million, an increase of 15.2% from $538.4 million for the first quarter of 2013.
Net income grew 13.2% to $45.9 million for the first quarter of 2014 from $40.6 million for the first quarter of 2013.
Earnings per diluted share for the first quarter of 2014 rose 12.8% to $0.53 from $0.47 for the first quarter last year. Old Dominion’s operating ratio improved to 87.1% for the first quarter of 2014 compared with 87.8% for the first quarter of 2013.
“Old Dominion achieved strong financial results for the first quarter of 2014, which included a company record for quarterly revenue despite the negative impact of the severe winter weather,” commented David S. Congdon, President and Chief Executive Officer of Old Dominion.
He continued: “For the first quarter, we generated a 13.9% increase in LTL tons per day, which included an 11.9% increase in shipments and a 1.8% increase in weight per shipment.”
Old Dominion Freight is a leading, less-than-truckload (“LTL”), union-free motor carrier providing regional, inter-regional and national LTL service and other logistics services from a single integrated organization. The Company also offers international freight forwarding, ground and air expedited transportation, container delivery, truckload brokerage, supply chain consulting, warehousing and consumer household pickup and delivery.
Category: Featured, General Update, Management
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