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Benzinga
Benzinga
Business
Akanksha Bakshi

Old Dominion Freight Line CEO Remains Confident In Long-Term Growth Despite Downturn

Old Dominion ODFL LTL
Spokane,,Washington,Usa,March,2,,2022,Old,Dominion,Freight,Lines

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares plunged Wednesday after it reported weaker-than-expected second-quarter earnings. Economic softness weighed on freight volumes and revenue.

The company posted earnings of $1.27 per share, down 14.2% from $1.48 in the year-ago period and below the Street estimate of $1.30. Revenue fell 6.1% to $1.41 billion, missing expectations of $1.43 billion.

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