Shares in Old Dominion Freight Line jump

This March 1, 2011 photo shows a customer walking down the bread and pastry aisle at a Kroger Co. supermarket. The Kroger Co. reported a second-quarter profit that beat Wall Street expectations, Friday, Sept. 7, 2012, as the supermarket operator said its loyalty program helped lift a key sales figure. The nation's largest traditional grocery store chain also raised its outlook for the year. (AP Photo/Al Behrman)

Shares in Old Dominion Freight Line jump

Published: 04:39:25 PM, Fri 22 March 2013 UTC

Old Dominion Freight Line shares jumped Friday after the trucking company said it's hauling more goods than previously estimated.

Old Dominion Freight Line Inc., based in Thomasville, N.C., now expects total tonnage to increase between 4.5 percent and 5 percent in the first quarter, compared with the same period a year ago. The previous range was between 4 percent and 4.5 percent.

Old Dominion Freight said prices should pick up, too. Revenue per hundredweight, which measures how much a trucking company gets for every 100 pounds of goods moved, may increase between 2.5 percent and 3 percent in the current quarter, excluding fuel surcharge.

The company's stock rose 5.2 percent in afternoon trading, gaining $1.88 to $38.19. Old Dominion Freight Line Inc. has traded between $26.12 and $38.55 over the last 52 weeks.

The trucking company is expected to report first-quarter results on April 25. Analysts expect earnings of 41 cents a share and revenue of $531.4 million.

Tags: goods, cents, period, imperial units, earnings, n.c., percent, afternoon trading, current quarter, friday, stock, business, analysts, stock market, revenue, prices, share, pounds, jump, first-quarter results, trucking company, previous range, thomasville, commercial item transport and distribution, fuel surcharge, old dominion freight, dominion freight line, freight line inc., freight line jump, freight line shares, total tonnage