Landstar’s Second Quarter Income Rises
Landstar System reported its second-quarter net income rose to $35.9 million, or 80 cents per share, from $30.4 million, or 66 cents, a year ago.
Revenue rose to a second-quarter record $814 million, from $674 million, the truckload carrier said in a statement.
Loads hauled by truck increased 9% over the same time last year, and revenue per load rose 13%, the company said.
“At this point, I believe the current operating environment will remain very much intact throughout the balance of 2014. The increase in underlying demand as well as industry-wide truck productivity issues should continue to contribute to the very healthy pricing environment for spot market transactions. Although the 2014 third quarter is only several weeks old, the strong trends have continued,” Chairman and CEO Henry Gerkens said in a statement.
The company said it anticipates third-quarter revenue, operating income and earnings per share to be very similar to second-quarter results.
Landstar System is ranked No. 10 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
