guidance raised

Landstar’s watershed Q1 likely to yield to more records in 2021

Huge beat-and-raise quarter from Landstar

Freight broker Landstar System (NASDAQ: LSTR) announced record earnings per share of $2.01 after the market closed Wednesday. The result was well ahead of the $1.63 consensus estimate and nearly double the year-ago quarter.

The Jacksonville, Florida-based company reported a revenue increase of 39% year-over-year to $1.29 billion. Gross profit climbed 32% to $189 million, “an all-time quarterly record.” The press release called out the prior-year quarter as not being an easy comparison due to...

https://s29755.pcdn.co/news/landstars-watershed-q1-likely-to-yield-to-more-records-in-2021

Headline beat for Knight-Swift; 2021 to see mid-teen jump in contract rates

Trucking market to remain tight throughout 2021, according to management

The nation’s largest truckload carrier, Knight-Swift Transportation (NYSE: KNX), posted a better-than-expected first quarter Wednesday. The Phoenix-based company reported adjusted earnings per share of 83 cents, 13 cents ahead of consensus and 39 cents better than the year-ago quarter.

The quarter benefited from a reversal of almost $23 million in other income when compared to the prior year. “The year-over-year improvement was primarily driven by gains recognized within our portfolio of...

https://www.freightwaves.com/news/headline-beat-for-knight-swift-2021-to-see-mid-teen-jump-in-contract-rates

Landstar ups outlook, contends this cycle may not be different

Landstar truck on highway

Truck broker Landstar System Inc. (NASDAQ: LSTR) sees trends improving thus far in the fourth quarter, producing a new earnings expectation “slightly above” the high end of the company’s initial guidance range issued during the third-quarter report.

Appearing at the Stephens Annual Investment Conference, the Jacksonville, Florida-based company’s president, CEO and interim principal financial officer, Jim Gattoni, said improvement in fundamentals has accelerated as the quarter has progressed....

https://www.freightwaves.com/news/landstar-ups-outlook-contends-this-cycle-may-not-be-different

Landstar eyes record in fourth quarter

Landstar trailer on highway

After posting a second-best third quarter, only to 2018, truck broker Landstar System Inc. (NASDAQ: LSTR) could be closing in on a new record in the fourth quarter.

On the company’s Thursday earnings call, management said the current truck market, highlighted by high demand and tight capacity, should continue through the quarter, noting that the company is operating at peak levels even though peak season hasn’t really kicked in yet.

The Jacksonville, Florida-based company reported third-quarter...

https://www.freightwaves.com/news/landstar-eyes-record-fourth-quarter

Knight-Swift puts up the Q3 analysts were expecting

Knight truck on highway

The nation’s largest truckload (TL) carrier, Knight-Swift Transportation (NYSE: KNX), on Wednesday posted third-quarter results closer to what analysts and onlookers were anticipating.

After a couple of lackluster third-quarter reports from TL carriers, Knight-Swift reported a third-quarter beat and a 2020 guidance raise, and it didn’t contain its exuberance over current TL market fundamentals, issuing better-than-expected full-year 2021 guidance. Usually carriers wait until the release of...

https://www.freightwaves.com/news/knight-swift-puts-up-the-q3-analysts-were-expecting

Knight-Swift raises outlook for 2020, 2021 well ahead of forecasts

Swift truck on highway

In a rare move, Knight-Swift Transportation Holdings Inc. (NYSE: KNX) issued full-year 2021 guidance a full quarter ahead of schedule. The Phoenix-based truckload (TL) and transportation provider said it expects 2021 adjusted earnings per share (EPS) to be in the range of $3.20 to $3.40, well ahead of the current consensus estimate of $2.90 according to Seeking Alpha.

On Wednesday, the company posted third-quarter adjusted EPS of 79 cents, ahead of the consensus estimate of 64 cents and the 2019...

https://www.freightwaves.com/news/knight-swift-raises-outlook-for-2020-2021-well-ahead-of-forecasts

Landstar joins rising tide and raises guidance

Landstar truck on highway

The improved outlook for trucking continues with a guidance raise from Jacksonville, Florida-based freight broker Landstar System Inc. (NASDAQ: LSTR).

In a filing with the U.S. Securities and Exchange Commission, the company announced it was increasing its previously issued third-quarter earnings per share (EPS) guidance to a range of $1.40 to $1.46, well above the company’s prior guidance of $1.11 to $1.17 and the current consensus estimate of $1.14.

The company now expects loads hauled by truck...

https://www.freightwaves.com/news/landstar-joins-the-rising-tide-raises-guidance

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