Old Dominion Freight Line, Inc. (ODFL) saw its stock rise by 5.25% in Monday's trading, increasing by $9.63 to close at $193.29. This upward movement in stock price occurred despite a decline in net income to $263.1 million from $322.8 million, alongside a decrease in diluted earnings per share from $1.47 to $1.23.
As of now, the trading price stands at $194.22, marking a $10.56 increase from the previous closing price of $183.66. Throughout the day, the stock has oscillated between a high of $199.29 and a low of $192.75. Trading volume has reached 1.3 million shares, slightly below the typical average volume of 1.4 million shares.
In spite of these financial hurdles, the stock has maintained a level of resilience, with its 52-week range extending from $165.49 to $233.26. The decline in the company's revenue during the fourth quarter was largely due to an 8.2% reduction in less-than-truckload (LTL) tons per day. This decrease was driven by a 7.6% drop in LTL shipments per day and a 0.7% decline in LTL weight per shipment.
