Landstar Lowers 2Q Earnings Forecast

Landstar System said it expects its second-quarter profit to be between 63 and 68 cents per share, 5 cents below its earlier forecast.

CEO Henry Gerkens, who lowered the forecast in the company’s mid-quarter conference call Tuesday, pegged the decline to weakness in the company’s industrial flatbed freight sector.

But he said there were indications that sector’s freight will improve during the rest of the quarter, with the possible exception of freight related to wind-power projects.

Landstar System is ranked No. 9 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.