Old Dominion Reports ‘Best Ever’ Second-quarter Performance
Old Dominion Freight Line Inc. announced revenues increased 8.4 percent to $762.2 million for the second quarter of 2015 from $703.0 million for the same quarter of 2014.
Net income was $85.6 million for the second quarter of 2015, a 15.9 percent increase from $73.8 million for the second quarter last year, while earnings per diluted share were $1, a 16.3 percent increase from $0.86 for the prior-year quarter. Old Dominion’s operating ratio improved 100 basis points to 81.5 percent for the second quarter of 2015 from 82.5 percent for the second quarter of 2014.
For the first six months of 2015, revenue grew 10.2 percent to $1.46 billion from $1.32 billion for the same period in 2014. Net income increased 23.7 percent to $148.1 million for the first half of 2015 from $119.7 million for the first half of 2014, while earnings per diluted share rose 24.5 percent to $1.73 from $1.39. Old Dominion’s operating ratio improved 150 basis points to 83.2 percent for the first six months of 2015 from 84.7 percent for the first six months of 2014.
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