ODFL - Why Shares of Old Dominion Freight Line Are Up Today
Shares of Old Dominion Freight Line (NASDAQ: ODFL) were up nearly 10% on Thursday following the trucking company's quarterly earnings report. While Old Dominion is feeling the impact of the COVID-19 pandemic, it seems to be managing the crisis as well as can be expected.
Old Dominion reported first-quarter earnings of $1.11 per share, one penny short of consensus, on revenue of $987.3 million that came in about $4 million ahead of what analysts had expected.
The company's operating ratio, a measure of operating expenses as a percentage of revenue, improved to 81.4% from 82% in the year-earlier period, despite revenue falling slightly and the company paying a special employee bonus during the quarter.