Trucking company Old Dominion Freight Line reported decreased earnings Thursday, down by 5.1 percent, that missed expectations due to economic conditions and pared back operations initiatives.
he Thomasville-based company reported net income of $68.5 million, or 83 cents per share, compared to $72.2 million, or 85 cents per share, during 2015’s fourth quarter. Analysts were expecting earnings of 86 cents per share.
During the fiscal year, Old Dominion saw a 2.9 percent net income decline.
Quarterly revenue increased 1.5 percent, while yearly revenue increased 0.6 percent to $3.0 billion.
