Landstar System (NASDAQ: LSTR) reported Q2 EPS of $0.63, $0.07 worse than the analyst estimate of $0.70. Revenue for the quarter came in at $823.51 million versus the consensus estimate of $775.35 million.
Overall, the resiliency of Landstars variable cost business model performed as expected given the unprecedented economic decline caused by the coronavirus (COVID-19) pandemic, said Landstars President and Chief Executive Officer, Jim Gattoni. We entered the 2020 second quarter knowing we would face a very soft freight demand environment as a result of actions taken by governmental authorities and businesses to reduce the spread of COVID-19. As... More