Ground Transportation Stocks Fall After Q1 Earnings Despite Revenue Beats; ODFL, XPO Decline

Ground transportation stocks declined after first-quarter earnings, even as the 15-company group tracked posted revenue that beat analyst estimates by an average of 2.1%. Shares in the group are down 4.3% on average since reporting, reflecting investor caution on freight demand, fuel costs and economic sensitivity. Old Dominion Freight Line (NASDAQ: ODFL) reported revenue of $1.33 billion, down 2.9% from a year earlier but 1.2% above consensus. The stock has fallen 12% since results and traded at $195.09. XPO (NYSE: XPO) posted revenue of $2.10 billion, up 7.3% and 3% above estimates, but its shares are down 7% to $201.58. Heartland Express (NASDAQ: HTLD) outperformed with revenue of $176.3 million, down 19.7% but 2.6% above estimates, and its stock rose 9.4% to $12.67. Universal Logistics (NASDAQ: ULH) missed revenue expectations by 1.3%, sending shares down 42.9% to $12.79. Schneider (NYSE: SNDR) revenue was flat at $1.40 billion, slightly below estimates.