Old Dominion Freight Line (ODFL) has announced its financial results for the three-month and 12-month periods ending December 31, 2016. Revenue for the year was up 0.6% to $2,991m and Q4 saw an increase of 1.5% to $746m.
There were also moderate gains in EBITDA for the US Road Freight company. For Q4, it increased 3.1% to $163m, whilst for the calendar year it increased 1.5% to $674m. Sales and costs remained consistent throughout the reporting periods, though net profit for 2016 decreased slightly by 3.0% to $296m.
David S. Congdon, Vice Chairman and CEO of ODFL, commented: “We believe Old Dominion performed well during the fourth quarter and all of 2016, particularly given the challenges we faced from the economy and headwinds created by the strategic elimination of certain non-LTL services. We were encouraged by the improving operating environment as the fourth quarter progressed and our momentum has carried over into January.”
Source: Old Dominion Freight Line