Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Abstract]

Note 10. Quarterly Financial Information (Unaudited)

A summary of our unaudited quarterly financial information for 2019 and 2018 is provided below. Our tonnage levels and revenue mix are subject to seasonal trends common in the motor carrier industry. Our revenue and operating margins in the first and fourth quarters are typically lower than those during the second and third quarters due to reduced shipments during the winter months. Harsh winter weather or natural disasters, such as hurricanes, tornadoes and floods, can also adversely impact our performance by reducing demand and increasing operating expenses.

	Quarter
(In thousands, except per share data)	First		Second		Third		Fourth		Total
2019
Revenue	$	990,782	$	1,060,666	$	1,048,457	$	1,009,206	$	4,109,111
Operating income		178,426		234,489		217,527		188,264		818,706
Net income		133,323		174,072		164,099		144,024		615,518
Earnings per share:
Basic		1.65		2.16		2.05		1.81		7.67
Diluted		1.64		2.16		2.05		1.80		7.66
Cash dividends declared		0.17		0.17		0.17		0.17		0.68

2018
Revenue	$	925,020	$	1,033,498	$	1,058,233	$	1,026,944	$	4,043,695
Operating income		149,340		220,481		228,385		218,845		817,051
Net income		109,333		163,434		173,442		159,459		605,668
Earnings per share:
Basic		1.33		1.99		2.12		1.96		7.39
Diluted		1.33		1.99		2.12		1.95		7.38
Cash dividends declared		0.13		0.13		0.13		0.13		0.52