Landstar’s 2Q Profit, Revenue Rise
Truckload carrier Landstar System said late Wednesday its second-quarter profit rose slightly, while revenue jumped 10%.
Net income for the quarter ended June 28 rose to $29.8 million, or 56 cents a share, from $29.7 million, or 53 cents, a year earlier. Revenue rose to $698 million, from $633 million, Landstar said.
Chief Executive Officer Henry Gerkens said he anticipated the current fiscal third quarter to be similar to the second, and anticipates third-quarter earnings will be 54 to 60 cents per share.
Landstar also said it will boost its quarterly dividend by 7%, to 4 cents per share, which will be payable on Aug. 29 to stockholders of record as of Aug. 11.
Landstar System is ranked No. 12 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
