Landstar Q1 Results Top Estimates - Quick Facts

(RTTNews) - Transportation Services company Landstar System, Inc. (LSTR) Thursday reported a rise in net earnings as well as revenues for the first quarter. Both earnings and revenues beat analysts' estimates.

For the first quarter, net earnings increased slightly to $27.64 million or $0.61 per share, from $26.78 million or $0.57 per share in the same period last year.

On average, 20 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.59 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the 3-month period rose to $688.19 million from $622.88 million a year earlier. Analysts had expected revenues of $667.21 million for the quarter.

Looking ahead to the second quarter, the company expects earnings of $0.73 to $0.78 per share on revenues of $750 million to $800 million. Analysts expects earnings of $0.74 per share on revenues of $720.76 million for the second quarter.

The board has recommended a quarterly dividend of $0.06 per share, payable on May 30 to shareholders of record on May 8.