Freight delivery company Landstar (NASDAQ: LSTR) will be announcing earnings results this Tuesday afternoon. Here’s what investors should know.
Landstar beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $1.16 billion, down 1.6% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ Van Equipment revenue estimates but a miss of analysts’ EBITDA estimates.
Is Landstar a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Landstar’s revenue to decline 1.6% year on year to $1.21 billion, improving from the 10.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.17 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 4 upward revisions over the last 30 days (we track 10 analysts). Landstar has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Landstar’s peers in the ground transportation segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Saia posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Knight-Swift Transportation reported flat revenue, in line with consensus estimates. Knight-Swift Transportation’s stock price was unchanged following the results.
Read our full analysis of Saia’s results here and Knight-Swift Transportation’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 6.8% on average over the last month. Landstar’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $141.29 (compared to the current share price of $139.87).
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