Landstar System Inc. Q2 Income Retreats 20%

(RTTNews) - Landstar System Inc. (LSTR) released earnings for second quarter that retreated compared to the same period last year.

The company said its bottom line came in at $32.31 million, or $0.76 per share. This was lower than $40.47 million, or $0.92 per share, in last year's second quarter.

Analysts had expected the company to earn $0.81 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.7% to $775.22 million. This was down from $868.38 million last year.

Landstar System Inc. earnings at a glance:

-Earnings (Q2): $32.31 Mln. vs. $40.47 Mln. last year. -Earnings Decline (Y-o-Y): -20.2% -EPS (Q2): $0.76 vs. $0.92 last year. -EPS Decline (Y-o-Y): -17.4% -Analysts Estimate: $0.81 -Revenue (Q2): $775.22 Mln vs. $868.38 Mln last year. -Revenue Change (Y-o-Y): -10.7%