Freight broker Landstar System missed fourth-quarter expectations Wednesday after the market closed.
The Jacksonville, Florida-based company reported earnings per share of $1.31, which fell short of the $1.34 consensus estimate. Management’s guidance range was $1.25 to $1.45.
Revenue of $1.21 billion was up 0.4% year over year and slightly ahead of the $1.2 billion consensus estimate (in line with management’s forecast of $1.15 billion to $1.25 billion).
Total loads hauled by truck fell 3.4% y/y (compared to management’s forecast of down 4% to up 1%). Revenue per load was up 3.1% (compared to guidance of flat to up 4%).
Landstar (NASDAQ: LSTR) issued first-quarter EPS guidance of $1.05 to $1.25, well shy of the $1.36 consensus estimate. A revenue forecast of $1.075 billion to $1.175 billion was also below consensus of $1.19 billion.
Loads hauled by truck are expected to be 7% to 2% lower y/y in the first quarter, with revenue per load 2% lower to 3% higher y/y.
Landstar will host a call to discuss fourth-quarter results with analysts at 4:30 p.m. EST on Wednesday.
More FreightWaves articles by Todd Maiden:
The post Landstar Q4 earnings: First Look appeared first on FreightWaves.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.