FX.co ★ Landstar System Inc. Q2 Profit Retreats, But Beats Estimates

Landstar System Inc. (LSTR) reported a decline in earnings for the second quarter compared to the same period last year, yet the results surpassed Wall Street expectations.

The company posted earnings of $52.62 million, or $1.48 per share, in contrast to $66.56 million, or $1.85 per share, in the second quarter of the previous year.

According to data aggregated by Thomson Reuters, analysts had forecasted average earnings of $1.45 per share. These analyst projections typically do not include special items.

Revenue for the quarter saw a 10.8% decline, falling to $1.225 billion from $1.373 billion the prior year.

Key financial highlights for Landstar System Inc. (GAAP) in Q2:

- Earnings: $52.62 million, compared to $66.56 million last year.

- EPS: $1.48, down from $1.85 last year.

- Revenue: $1.225 billion, down from $1.373 billion last year.