The 10-second takeaway
For the quarter ended June 29 (Q2), Landstar System met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. GAAP earnings per share dropped.
Gross margins were steady, operating margins dropped, net margins dropped.
Landstar System reported revenue of $679.7 million. The 18 analysts polled by S&P Capital IQ expected to see revenue of $685.1 million on the same basis. GAAP reported sales were 7.7% lower than the prior-year quarter's $736.4 million.
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 $0.66. The 23 earnings estimates compiled by S&P Capital IQ forecast $0.66 per share. GAAP EPS of $0.66 for Q2 were 13% lower than the prior-year quarter's $0.76 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 22.3%, much about the same as the prior-year quarter. Operating margin was 7.3%, 70 basis points worse than the prior-year quarter. Net margin was 4.5%, 40 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $727.7 million. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $2.78 billion. The average EPS estimate is $2.71.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 177 members out of 192 rating the stock outperform, and 15 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give Landstar System a green thumbs-up, and three 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 $57.71.
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