Landstar System Inc. Reports 8% Drop In Q3 Profit

(RTTNews) - Landstar System Inc. (LSTR) revealed earnings for third quarter that decreased compared to the same period last year.

The company said its earnings fell to $36.28 million, or $0.86 per share. This was down from $39.35 million, or $0.90 per share, in last year's third 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 6.4% to $787.94 million. This was down from $841.73 million last year.

Landstar System Inc. earnings at a glance:

-Earnings (Q3): $36.28 Mln. vs. $39.35 Mln. last year. -Earnings Decline (Y-o-Y): -7.8% -EPS (Q3): $0.86 vs. $0.90 last year. -EPS Decline (Y-o-Y): -4.4% -Analysts Estimate: $0.81 -Revenue (Q3): $787.94 Mln vs. $841.73 Mln last year. -Revenue Change (Y-o-Y): -6.4%

-Guidance: Next quarter EPS guidance: $0.85 - $0.90 Next quarter revenue guidance: $800 - $850 Mln