Landstar System Reports Record 1Q Earnings

April 14, 2005 9:45 AM, EDT

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ruckload carrier Landstar System Inc. said Thursday that in the first quarter it earned a record $17.9 million or 29 cents a share, compared with $8.1 million or 13 cents a year earlier.

The company said its revenue rose 19% to $502 million, also a record.

The firm said its carrier group of companies generated $371 million in revenue for the quarter, up from $322 million in the first quarter of 2004.

The company said it expected its revenue to rise 14% to 18% in the second quarter compared to last year and that it agreed with analysts’ projections of 31 cents to 36 cents per-share earnings for the second quarter.

Landstar is ranked No. 15 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.