TT: Landstar reports Q2 records for revenue, earnings

Tranport Topics reports:

Landstar System Inc. posted strong financial results for the second quarter — though they missed investment analysts’ expectations — and set a record for the first half.

The Jacksonville, Fla.-based truckload carrier said July 20 that net income was $112.6 million, or $3.05 a diluted share, compared with $92.3 million, $2.40, during the same time last year.

Total revenue increased by 26% to $1.98 billion from $1.57 billion.

The results were just below investment analysts’ expectations of $3.25 per share and revenue of $2.02 billion, according to Zacks Consensus Estimate.

The number of loads hauled via truck during the quarter increased 10% year-over-year. But that was still slightly below the low end of its guidance issued in the first quarter….

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