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Landstar: 3Q Earnings Snapshot

JACKSONVILLE, Fla. (AP) _ Landstar System Inc. (LSTR) on Wednesday reported third-quarter net income of $53.3 million.

On a per-share basis, the Jacksonville, Florida-based company said it had net income of $1.35.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The freight shipper and warehouser posted revenue of $1.01 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $1.03 billion.

Landstar shares have climbed 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $114.81, a rise of 13% in the last 12 months.


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