Yahoo Finance Earnings To Watch: Landstar (LSTR) Reports Q2 Results Tomorrow
Freight delivery company Landstar (NASDAQ:LSTR) will be announcing earnings results tomorrow after market close. Here's what to look for.
Landstar beat analysts' revenue expectations by 4.7% last quarter, reporting revenues of $1.17 billion, down 18.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts' Van Equipment revenue estimates and a decent beat of analysts' earnings 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 9.1% year on year to $1.25 billion, improving from the 30.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.46 per share.
The majority of analysts covering the company have 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 four 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. Universal Logistics delivered year-on-year revenue growth of 12%, meeting analysts' expectations, and Covenant Logistics reported revenues up 4.9%, falling short of estimates by 4%. Universal Logistics traded down 4.4% following the results while Covenant Logistics was up 8%.
Read our full analysis of Universal Logistics's results here and Covenant Logistics's results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 10.9% on average over the last month. Landstar is up 4.7% during the same time and is heading into earnings with an average analyst price target of $177.5 (compared to the current share price of $192.04).
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