Old Dominion Posts $343.7M Third-Quarter Net Income
ODFL sits 45% above its 52-week low of $126.01.
Summary
Old Dominion reported third-quarter net income of $343.7 million, with revenue of $1.59 billion and earnings per share of $1.65, as revenue rose 13.1%. The company's August update showed revenue per day up 12.4% year-over-year on stronger LTL pricing, partly offset by a 0.9% decline in volumes, and the prior 10-Q flagged a year-over-year decline in Q1 revenue and earnings before an April rebound. The $343.7M figure lands against a roughly $38.8 billion market cap, so the profit line alone is a modest slice of the story; the pricing-versus-volume mix and margin will drive the reaction.
At the time of this announcement, ODFL was trading at $182.73 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $38.8B. The 52-week trading range was $126.01 to $252.03. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.