I suppose it's a much better situation to have to find new ways to describe and discuss the good results at Old Dominion
Revenue jumped more than 25% again this quarter -- but then, Old Dominion always reports 20% or better growth on the top line, doesn't it? Actually, this is the ninth straight quarter it's done so. It's also the 19th straight quarter in which it's produced net income growth above 30%, with this quarter's tally rising 55% from last year. As you might imagine, operating efficiency continues to improve -- the operating ratio moved down to 88.3% from 90.4% last year.
Volume really drove the story. Plenty of companies in the trucking sector, including Arkansas Best
Truckers are having some difficulty with fuel costs and driver recruitment and retention, but that's actually something of a benefit for Old Dominion. After all, if you're able to find the drivers you need and pass along fuel surcharges, you're in a position to benefit from that tighter market. It's working for the rails -- Burlington Northern
Sooner or later, the good times will pass. Economic growth isn't permanent, and though I believe Old Dominion would continue to gain share even in a tough market, these are golden days. That's not to say I don't like the stock or that I wouldn't seriously consider buying it here -- it's just that Fools need to realize that you can't take today's growth and momentum and draw a straight trend line into infinity.
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Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).