ODFL - Why Old Dominion Shares Hit the Fast Lane This Week
Shares of Old Dominion Freight Line (NASDAQ: ODFL) were up more than 13% for the week as of midday Thursday, after the trucking company reported better-than-expected earnings. Demand for trucking is strong, and Old Dominion was able to take advantage.
Old Dominion earned $2.41 per share in the fourth quarter on revenue of $1.41 billion, surpassing expectations for $2.26 per share in earnings on sales of $1.38 billion. Revenue was up 31.4% year over year, and operating income of $372.5 million came in 46.5% above the same three months of 2020.
Image source: Old Dominion.
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Why Old Dominion Shares Hit the Fast Lane This Week