Landstar System falls on downbeat Q2 results

Landstar System

20/07/2022 21:54

** Shares of freight and logistics service company Landstar
System Inc  LSTR.O  down ~3% at $151.05 after the bell
    ** Company posts Q2 profit of $3.05 per share, compared to
analysts average expectation of $3.23, per Refinitiv IBES data
    ** LSTR says Q2 revenue rose 26% to $1.98 bln, but fell
short of analysts' estimates of $2 bln  urn:newsml:reuters.com:*:nGNXccZvPR
    ** However, company expects Q3 revenue between $1.80 bln and
$1.85 bln, above analyts' average expectation of $1.77 bln
    ** Up to Wednesday's close, stock had fallen ~12% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))