Landstar System’s LSTR first-quarter 2021 earnings of $2.01 per share surpassed the Zacks Consensus estimate of $1.61. The underside line additionally surged 93.3% 12 months over 12 months on larger revenues.
Revenues of $1,287.5 million outperformed the Zacks Consensus Estimate of $1,142.5 million and in addition jumped 38.8% 12 months over 12 months. The highest line benefited from sturdy performances of the truck transportation, rail intermodal, and ocean and air cargo carriers segments.
Detailed Statistics
Gross revenue (revenues excluding the price of bought transportation and commissions to brokers) got here in at $189.2 million within the reported quarter, up 32% 12 months over 12 months.
Landstar System, Inc. Value, Consensus and EPS Shock
Landstar System, Inc. price-consensus-eps-surprise-chart | Landstar System, Inc. Quote
Additional, working earnings soared 91.2% from the prior-year quarter’s determine to $103.Three million. Whole prices and bills (on a reported foundation) elevated 35.5% to $1.2 billion.
Whole revenues within the truck transportation section — contributing 92.7% to the highest line — amounted to $1.20 billion, up 39.7% from the year-ago quarter’s determine. Inside the truck transportation section, truckload transportation revenues hauled by way of van tools rose 51.7% to $827.2 million. Moreover, truckload transportation revenues hauled by way of unsided/platform tools climbed 18.9% to $340.6 million.
Much less-than-truckload revenues elevated 12.2% to $25.7 million. Total first-quarter truck transportation income per load rose 23.6% 12 months over 12 months.
Rail intermodal revenues of $31.7 million elevated 12.8% from the determine recorded in first-quarter 2020. Furthermore, revenues within the ocean and air cargo carriers section surged 78.9% 12 months over 12 months to $47.6 million. Different revenues, nonetheless, declined 19.4% to $14.7 million.
Liquidity
On the finish of the primary quarter, Landstar, carrying a Zacks Rank #2 (Maintain), had money and money equivalents of $219.Four million in contrast with $249.35 million recorded on the finish of 2020. Moreover, long-term debt (excluding present maturities) totaled $58.2 million on the finish of the primary quarter in contrast with $65.36 million on the finish of 2020. You may see the entire checklist of at the moment’s Zacks #1 Rank (Robust Purchase) shares right here.
Dividend
Landstar’s board declared a quarterly money dividend of 21 cents per share, payable to shareholders on Might 28, 2021, of report as of Might 6, 2021.
Q2 Outlook
The corporate forecasts earnings per share (EPS) within the band of $2.20-$2.30 for the second quarter of 2021. The Zacks Consensus Estimate for a similar is pegged at $1.67.
Anticipating favorable market situations to proceed within the second quarter as nicely, Landstar expects revenues within the vary of $1.40-$1.45 billion. The Zacks Consensus Estimate for a similar is pegged at $1.15 billion.
Additional, Landstar predicts each income per load and the variety of hundreds hauled by way of truck in a mid-single digit proportion vary above the 2021 first quarter.
Sectorial Snapshot
Inside the broader Transportation sector, Delta Air Strains DAL, J.B. Hunt Transport Companies JBHT and Kansas Metropolis Southern KSU not too long ago reported first-quarter 2021 outcomes.
Delta, carrying a Zacks Rank #3, incurred a loss (excluding $1.70 from non-recurring objects) of $3.55 per share. The determine was wider than the Zacks Consensus Estimate of a lack of $3.08. In the meantime, whole revenues of $4,150 million topped the Zacks Consensus Estimate of $3,821.Three million.
J.B. Hunt, a Zacks #Three ranked participant, reported earnings of $1.37 per share. The determine beat the Zacks Consensus Estimate of $1.18. Whole working revenues of $2,618.1 million additionally surpassed the Zacks Consensus Estimate of $2,486.9 million.
Kansas Metropolis Southern, carrying a Zacks Rank of three, reported earnings (excluding 23 cents from non-recurring objects) of $1.91 per share. The determine missed the Zacks Consensus Estimate of $2. Furthermore, quarterly revenues of $706 million lagged the Zacks Consensus Estimate of $714.Three million.
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