Landstar System rises on upbeat revenue forecast

Landstar System

20/04/2022 23:01

** Shares of freight and logistics service company  LSTR.O 
up 3.8% at $155 in extended trading
    ** Co anticipates revenue for Q2 to be in range of $2.0 bln
to $2.05 bln, above estimates of $1.80 bln, according to
Refinitiv IBES data
    ** LSTR reports 53% increase in Q1 revenue to $1.97 bln,
beating analysts' estimate of $1.83 bln, helped by strong
customer demand for its freight transportation services
    ** LSTR has exceeded revenue estimates for 8 straight
quarters
    ** In addition, co posts quarterly profit of $3.34/shr,
above analysts' estimate of $3.05/shr  urn:newsml:reuters.com:*:nGNX7ddY6q
    ** As of last close, LSTR stocks down ~16% YTD

 (Reporting by Aatrayee Chatterjee)
 ((Aatrayee.Chatterjee@thomsonreuters.com;))