Landstar System Inc. Q2 Profit Retreats, But Beats Estimates

(RTTNews) - Landstar System Inc. (LSTR) released earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $52.62 million, or $1.48 per share. This compares with $66.56 million, or $1.85 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.8% to $1.225 billion from $1.373 billion last year.

Landstar System Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $52.62 Mln. vs. $66.56 Mln. last year. -EPS (Q2): $1.48 vs. $1.85 last year. -Revenue (Q2): $1.225 Bln vs. $1.373 Bln last year.