Old Dominion reports record Q2 revenues

The less-than-truckload carrier, a favorite among analysts, continued its run of strong financial results from April through June, with a near 15% increase in operating profits and a quarterly record for revenues.    The less-than-truckload carrier Old Dominion Freight Line said Thursday its operating profit rose 14.8 percent year-over-year in the second quarter to $140.9 million.
   Revenues for the North Carolina-based nationwide carrier rose 8.4 percent to $762.2 million, a quarterly record for the company.
   “We believe these second-quarter results reflect our continued ability to win market share while also maintaining our focus on yield management,” said Old Dominion Vice Chairman and CEO David S. Congdon. “The combination of these factors, as well as continued improvements in our operating efficiency, contributed to the year-over-year improvement in our operating ratio and record profitability.”
   Congdon said ODFL’s LTL tons per day for the second quarter of 2015 increased 9.1 percent compared with the second quarter of 2014, due to a 13.4 percent increase in LTL shipments, which was partially offset by a 3.8 percent decline in LTL weight per shipment.