Landstar’s Third-Quarter Income Rises
Landstar System said Monday its third-quarter net income rose to $30.2 million, or 64 cents a share, from $21.8 million, or 44 cents, a year ago.
Revenue rose 10% to $684 million. The earnings per share marked a third-quarter record, the company said.
Truck transportation revenue hauled by independent business capacity owners and brokerage carriers rose to $625.8 million, or 91% of revenue, up from $573.5 million, or 92%, a year ago.
Fourth-quarter earnings per share will be in a range of 62 to 67 cents per share, said Landstar’s Chairman and CEO Henry Gerkens.
Recent trends in September and into October “indicate continued strength in revenue per load and load volume,” he said in a statement.
Landstar System is ranked No. 8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
