Landstar Reports Record 3Q Profit
Landstar System said its third-quarter profit climbed 25.7% to a record high, driven by “very strong” demand for trucking services.
The truckload carrier said net income for its quarter ended Sept. 27 rose to $36.8 million, or 82 cents per share, from $29.2 million, or 64 cents.
Revenue surged 21.3% to $819 million.
“Revenue, gross profit, operating income, net income and diluted earnings per share were all third-quarter records,” Landstar Chairman and CEO Henry Gerkens said in the company’s report. “Overall, demand for Landstar’s truck transportation services in the 2014 third quarter continued to be very strong, as the number of loads hauled via truck increased 11% over the 2013 third quarter.”
Revenue per load hauled by truck rose 10% from a year earlier.
Gerkens predicted that the strength in load volume and revenue per load from would continue throughout the fourth quarter.
Landstar ranks No. 10 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
