Landstar’s Third-Quarter Profit Slips from Year Ago
Landstar System said Oct. 24 its third-quarter earnings slipped from a year ago as “the U.S. economy continues to experience very slow growth.”
Net income declined to $29.2 million, or 64 cents per share, compared with $33.1 million, or 71 cents, in last year’s third quarter.
Revenue declined 5.1% to $680.5 million, the truckload carrier said in a statement.
“We do not believe we have seen signs that point to a significant change in U.S. industrial output in the near term,” Chairman and CEO Henry Gerkens said.
The Jacksonville, Fla.-based company also noted it is evaluating acquisition opportunities in the near term but historically has been “prudent when engaging in acquisition and/or divestiture activity.”
Landstar System is ranked No. 9 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
