Landstar’s 3Q Earnings Dip
Truckload carrier Landstar System said Thursday its third-quarter net income slipped from a year ago, though its per-share income rose.
The company’s third-quarter profit was $29.3 million or 54 cents a share, compared with $30.6 million or 53 cents a year ago.
Revenue for the quarter ended Sept. 29 fell to $634.8 million, from $649.2 million last year, Landstar said in a statement.
The previous year’s third-quarter revenue included a $15 million in revenue generated under a Federal Aviation Administration contract, Landstar said.
The company’s carrier group of companies generated $461 million in the quarter, matching last year’s third quarter.
The company said in late August it would repurchase 2 million shares of its stock
Landstar System is ranked No. 12 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
