Overnite Corp. Reports Higher 1Q Earnings
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The Richmond, Va.-based company said its revenue growth reflected a 4.3% rise in tons per day and a 4% in-crease in revenue per shipment.
vernite Corp. reported late Thursday its earnings improved to $11.4 million or 40 cents a share for the first quarter, up from $7.5 million or 27 cents a year ago.
The less-than-truckload carrier said its operating revenue rose to $418 million, a 10.4% improvement from last year’s first quarter.
Overnite projected its second-quarter earnings would be 71 cents to 76 cents per share and earnings for the full year to be $2.60 to $2.70.
Overnite is ranked No. 17 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.