Freight delivery company Landstar (NASDAQ: LSTR) will be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Landstar missed analysts’ revenue expectations last quarter, reporting revenues of $1.18 billion, down 2.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss of analysts’ revenue estimates.
Is Landstar a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Landstar’s revenue to be flat year on year, improving from the 1.6% decrease it recorded in the same quarter last year.
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 multiple 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. Heartland Express’s revenues decreased 19.7% year on year, beating analysts’ expectations by 2.6%, and Ryder reported flat revenue, in line with consensus estimates. Heartland Express traded up 12.5% following the results while Ryder was also up 11.3%.
Read our full analysis of Heartland Express’s results here and Ryder’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 15% on average over the last month. Landstar is up 14.1% during the same time and is heading into earnings with an average analyst price target of $154.50 (compared to the current share price of $179.02).
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