Landstar’s 2Q Profit Slips from Year Ago
Landstar System said Thursday its second-quarter earnings slipped from a year ago but said the first few weeks of the third quarter have shown improvement.
Net income was $30.4 million, or 66 cents per share, compared with $35.9 million, or 76 cents, in last year’s second quarter.
Revenue slipped 7.7% to $679.3 million, the truckload carrier said in a statement. Its earnings were in line with the company’s revised expectations that were released in late May.
“During the first several weeks of the 2013 third quarter, revenue trends remained somewhat choppy, but improved from the trends experienced in the 2013 second quarter compared to the 2012 second quarter,” Chairman and CEO Henry Gerkens said.
Landstar System is ranked No. 9 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
