Old Dominion Beats Profit Estimates on Improved Pricing
The trucking firm reported first-quarter earnings of $1.14 per share, beating analyst expectations. Improved pricing helped mitigate a 7.9% drop in volumes.
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OLD DOMINION FREIGHT LINE reported first-quarter profit of $1.14 per share, beating LONDON STOCK EXCHANGE GROUP analyst estimates of $1.05. Revenue fell 2.9% to $1.33 billion but exceeded the $1.31 billion forecast as improved pricing offset a 7.9% drop in shipment volumes. The results suggest pricing discipline can protect margins for carriers in the United States despite a multi-year freight market lull.
