JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Landstar System Inc. (LSTR) on Tuesday reported third-quarter profit of $19.4 million.
On a per-share basis, the Jacksonville, Florida-based company said it had net income of 56 cents. Earnings, adjusted for asset impairment costs, came to $1.22 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The freight shipper and warehouser posted revenue of $1.21 billion in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $1.2 billion.
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