Landstar System Inc (NASDAQ:LSTR) reported better-than-expected earnings for the first quarter on Tuesday.
The company posted quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.12 per share. The company reported quarterly sales of $1.171 billion which beat the analyst consensus estimate of $1.156 billion.
“The Landstar team of independent business owners and employees executed well in a dynamic transportation backdrop, with our network generating higher truck transportation revenues and increased BCO utilization year-over-year,” said Landstar President and Chief Executive Officer Frank Lonegro. “I was particularly pleased with our variable contribution performance which reflected Landstar’s first year-over-year increase in variable contribution since the third quarter of 2022. We were encouraged by our improved first …