Old Dominion Freight Line (ODFL) Tops Q1 EPS by 3c, Beats on Revenues

Old Dominion Freight Line (NASDAQ: ODFL) reported Q1 EPS of $1.33, $0.03 better than the analyst estimate of $1.30. Revenue for the quarter came in at $925.02 million versus the consensus estimate of $916.69 million.

“Old Dominion had a great start to 2018, with first-quarter results that included many new Company records. We had our fourth consecutive quarter of double-digit revenue growth, and our quarterly revenue exceeded $900 million for the first time in our history,” commented Greg C. Gantt, the Company’s President and Chief Operating Officer, who, as previously announced, will transition to the combined role of President and Chief Executive Officer effective May 16, 2018. “The domestic economy continues to be strong, and we believe our ability to deliver superior service in this favorable operating environment will position us to win additional market share. The strength of our revenue growth contributed to a 180 basis-point improvement in our operating ratio for the quarter, and these factors, when combined with the substantial reduction in our income tax rate due to the Tax Cuts and Jobs Act, drove a 66.3% increase in earnings per diluted share.”

For earnings history and earnings-related data on Old Dominion Freight Line (ODFL) click here.

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