third quarter 2018

Ryder System (NYSE: R) reported record total revenue and record operating revenue for the third quarter. Both total and operating revenue grew across all business segments, which the company attributed to new business and higher volumes.

OD’s top line revenue grew 21.2% year over year to $1.06B and earnings per share swelled 71% to $2.12. Even more impressively, Old Dominion achieved a 78.4% operating ratio, a company (and possibly industry) record and 280 bps improvement over Q3 2017.

One quarter ago, their earnings were feared to have marked a peak. But there’s no signs of that reading the third quarter numbers.