Freight delivery company Landstar (NASDAQ: LSTR) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Landstar beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $1.21 billion, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income 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 2.9% year on year to $1.14 billion, improving from the 18.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.94 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Landstar has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Landstar’s peers in the ground transportation segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Schneider delivered year-on-year revenue growth of 6.3%, meeting analysts’ expectations, and Ryder reported revenues up 1.1%, in line with consensus estimates. Schneider traded up 5.9% following the results while Ryder’s stock price was unchanged.
Read our full analysis of Schneider’s results here and Ryder’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 9.9% on average over the last month. Landstar is down 4.1% during the same time and is heading into earnings with an average analyst price target of $148.03 (compared to the current share price of $135.56).
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