Why Shares of Old Dominion Freight Line Climbed in July
Shares of Old Dominion Freight Line (NASDAQ: ODFL) climbed 11.9% in July, according to data provided by S&P Global Market Intelligence, as investors reacted positively to another strong quarter for the trucker. Given the signs of strain on the trucking market, Old Dominion's current run of results is even more remarkable.
Old Dominion shares got a big boost mid-month when it reported second-quarter earnings per share of $2.16, up 8.5% year over year and $0.04 per share ahead of consensus. Revenue was slightly below expectations but climbed 2.6% over the prior year.
Image source: Old Dominion Freight Line.
Source Fool.com
