EUR/USD likely to find a peak near 1.25: UBS
JACKSONVILLE, Fla. - Landstar System , Inc. (NASDAQ:LSTR) reported first quarter earnings that fell short of analyst expectations, while revenue slightly exceeded estimates. The trucking and logistics company’s shares edged down 0.7% following the release.
Landstar reported earnings per share of $0.85 for the first quarter, missing the analyst consensus estimate of $0.94. Revenue came in at $1.15 billion, topping expectations of $1.13 billion.
The company’s revenue declined 1.6% YoY from $1.17 billion in Q1 2024. Truck transportation revenue, which accounts for 91% of total revenue, fell 1.8% to $1.05 billion.
"The Landstar team of independent business owners and employees continued to perform admirably, despite a highly unpredictable macro-economic backdrop," said Landstar President and CEO Frank Lonegro.
Landstar noted that the number of loads hauled via truck decreased 1.2% YoY in Q1, while truck revenue per load declined 0.6%.
The company’s results included a $4.8 million pre-tax charge related to a supply chain fraud in its international freight forwarding operations, impacting EPS by $0.10.
Landstar declared a quarterly dividend of $0.40 per share, an 11% increase over the previous quarter’s dividend.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.