Landstar tops Street 4Q forecasts

JACKSONVILLE, Fla. – JACKSONVILLE, Fla. (AP) _ Landstar System Inc. (LSTR) on Wednesday reported fourth-quarter profit of $64.8 million.

The Jacksonville, Florida-based company said it had net income of $1.54 per share. Earnings, adjusted for pretax gains, were $1.08 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.

The freight shipper and warehouser posted revenue of $1.05 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.01 billion.

Landstar shares have risen almost 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $111.05, an increase of 31 percent in the last 12 months.

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LSTR at https://www.zacks.com/ap/LSTR