Landstar System Inc. Reveals Decline In Q2 Bottom Line, but beats estimates

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

The company's bottom line came in at $66.6 million, or $1.85 per share. This compares with $112.6 million, or $3.05 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.8% to $1.37 billion from $1.98 billion last year.

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

-Earnings (Q2): $66.6 Mln. vs. $112.6 Mln. last year. -EPS (Q2): $1.85 vs. $3.05 last year. -Analyst Estimates: $1.83 -Revenue (Q2): $1.37 Bln vs. $1.98 Bln last year.