Landstar’s 2Q Earnings Jump on Higher Demand
Truckload carrier Landstar System said its earnings per share rose to a second-quarter record as its trucking and logistics operations improved on higher demand.
Net income rose to $35.9 million, or 76 cents per share, from $29.6 million, or 62 cents, a year ago.
Revenue rose almost 9% to $736 million, the company said Thursday.
Truck transportation revenue hauled by owner-operators and truck brokerage carriers rose to $680 million, from $621.5 million a year ago.
Chairman and CEO Henry Gerkens said third-quarter earnings would be between 71 cents and 75 cents per share.
Landstar System is ranked No. 9 on the Transport Topics 100 listing of largest U.S. and Canadian for-hire carriers.
