JACKSONVILLE, Fla. (AP) _ Landstar System Inc. (LSTR) on Wednesday reported second-quarter earnings of $24.3 million.
The Jacksonville, Florida-based company said it had profit of 63 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 98 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The freight shipper and warehouser posted revenue of $823.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $782.6 million.
Landstar shares have risen 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $120.95, a climb of 9% in the last 12 months.