Landstar System Up Slightly in Late Trade After Topping Q3 Earnings Expectations; Q4 EPS Outlook Also Beats Street View

Landstar System Inc. (LSTR) was edging higher in Wednesday late trading after the trucking and logistics company tonight reported Q3 net income of $0.86 per share, down from $0.90 per share during the same quarter last year but still beating the Capital IQ consensus by $0.05 per share.

Revenue for the three months ended Sept. 30 declined % from year-ago levels to $788 million, better than the $777.4 million Street view.

The company tonight also declared a $0.09 per share quarterly dividend, unchanged from its previous distribution and payable Dec. 2 to shareholders of record on Nov. 8.

Looking forward to the final quarter of the company’s fiscal year, Landstar is projecting revenue in a range of $800 million to $850 million during the three months ending Dec. 31, which includes an extra week compared with the prior-year period. It also sees Q4 net income coming in between $0.85 to $0.90 per share. Analysts, on average, are expecting the company to earn $0.82 per share on $801 million in revenue during the current quarter.

LSTR shares were up 0.3% at $65.93 each in after-hours trading following no change and a $65.75 a share closing price during today’s regular session.

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