The 10-second takeaway
For the quarter ended March 30 (Q1), Landstar System missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. GAAP earnings per share was unchanged.
Gross margins shrank, operating margins increased, net margins expanded.
Landstar System tallied revenue of $628.7 million. The 17 analysts polled by S&P Capital IQ hoped for a top line of $646.3 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.57. The 21 earnings estimates compiled by S&P Capital IQ forecast $0.57 per share. GAAP EPS of $0.57 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.5%, 90 basis points worse than the prior-year quarter. Operating margin was 6.9%, 30 basis points better than the prior-year quarter. Net margin was 4.3%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $729.0 million. On the bottom line, the average EPS estimate is $0.71.
Next year's average estimate for revenue is $2.87 billion. The average EPS estimate is $2.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 176 members out of 191 rating the stock outperform, and 15 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 give Landstar System a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Landstar System is outperform, with an average price target of $58.87.
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