Old Dominion Profit Falls on Weaker Shipment Volumes
Old Dominion reported a first-quarter profit of 238.3 million dollars as shipment volumes fell. Pricing rose 5.9 percent despite a 2.9 percent revenue dip.
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OLD DOMINION FREIGHT LINE reported first-quarter net income fell to $238.3 million, or $1.14 per share, as shipment volumes dropped 7.9%. Revenue in the United States declined 2.9% to $1.33 billion compared to the same period last year. While volumes remain under pressure, a 5.9% rise in revenue per shipment suggests pricing power is stabilizing for the trucking leader.
