Old Dominion Posts Revenue Decline to $1.4 Billion During Q4
ODFL Says Results Show Continued Freight Softness but That It Maintained Market Share and Strengthened Relationships
Although profit and revenue dropped year over year for Old Dominion in the fourth quarter, its results still beat the expectations of Wall Street. (Old Dominion Freight Line)
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Old Dominion Freight Line experienced a year-over-year decline in revenue during the fourth quarter because of its less-than-truckload operations moving fewer tons, the company reported Feb. 5.
The Thomasville, N.C.-based LTL carrier posted net income of $263.1 million, or $1.23 per diluted share, for the three months that ended Dec. 31. That compared with $322.8 million, $1.47, during the same time the previous year. Total revenue decreased 7.3% to $1.39 billion from $1.5 billion.
ODFL ranks No. 8 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 2 on the LTL list.
“Old Dominion’s fourth-quarter financial results reflect continued softness in the domestic economy,” ODFL President Marty Freeman said during a call with investors. “While our revenue de…
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