Landstar Reports Record 1Q Earnings

Landstar System Thursday reported its first-quarter net income rose to $26.8 million, or 57 cents per share, from $20.6 million, or 43 cents, a year ago.

Revenue rose to a first-quarter record $649 million, from $572 million, the truckload carrier said in a statement.

The quarterly results marked the best first-quarter operating performance in Landstar’s history, Chairman and CEO Henry Gerkens said in a statement.

The results were driven by a 15% increase in truck transportation revenue, comprised of a 9% increase loads and 6% increase in revenue per load.

Landstar System is ranked No. 8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.