Wolfe Research Upgrades Landstar System (LSTR) to Outperform

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Landstar System (LSTR) Misses Q2 EPS by 7c, Revenues Beat; Offers 3Q EPS Guidance Above Consensus

July 22, 2020 4:25 PM EDT

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