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Landstar's (LSTR) Q3 Outlook Improves on Better Volumes

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Landstar System LSTR provided a bullish outlook for the September quarter, driven by better-than-expected truckload volumes.

We remind investors that only last month, this Jacksonville, FL-based company predicted third-quarter 2021 revenues in the range of $1.55-$1.60 billion. Earnings per share were estimated in the band of $2.20-$2.30 at that time.

However, favorable market conditions led to upbeat trends through the first seven weeks of the September quarter with respect to the number of loads and revenue per load on loads hauled via truck. Currently, truckload volumes are trending above the second-quarter 2021 actuals in a low single-digit percentage range and revenue per load on loads hauled via truck are above the June-quarter actuals in a mid-single-digit percentage range. As a result of this bullish scenario, the freight broker revised its third-quarter revenue and earnings per share estimates upward.

While revenues are now expected in the $1.68-$1.72 billion band, earnings per share are anticipated in the $2.45-$2.55 range. The Zacks Consensus Estimate for third-quarter revenues and earnings per share is currently pegged at $1.56 billion and $2.29, respectively.

Zacks Rank & Other Stocks to Consider

Landstar System currently carries a Zacks Rank #2 (Buy). Investors interested in the broader Zacks  Transportaton  sector may also consider stocks like  Matson  MATX,  Costamare  CMRE, and  Genco Shipping &  Trading Limited  GNK, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Matson, Costamare and Genco Shipping have gained in excess of 30%, 46% and 100%, respectively, year to date.


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Landstar System, Inc. (LSTR) : Free Stock Analysis Report
 
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