Landstar System Inc. (LSTR) reported a decline in earnings for the second quarter compared to the same period last year, yet the results surpassed Wall Street expectations.
The company posted earnings of $52.62 million, or $1.48 per share, in contrast to $66.56 million, or $1.85 per share, in the second quarter of the previous year.
According to data aggregated by Thomson Reuters, analysts had forecasted average earnings of $1.45 per share. These analyst projections typically do not include special items.
Revenue for the quarter saw a 10.8% decline, falling to $1.225 billion from $1.373 billion the prior year.
Key financial highlights for Landstar System Inc. (GAAP) in Q2:
- Earnings: $52.62 million, compared to $66.56 million last year.
- EPS: $1.48, down from $1.85 last year.
- Revenue: $1.225 billion, down from $1.373 billion last year.
