Landstar posts strong Q1 results

The asset-light trucking company posted a net income of $57.47 million, revenues of $1.05 billion.    Landstar System Inc.’s net income for the first quarter of 2018 surged 77.5 percent year-over-year to $57.47 million, according to the company’s latest financial statements.
   The Jacksonville, Fla.-based asset-light trucking company’s diluted earnings per share for the first quarter totaled $1.37, up from 77 cents for the first quarter of last year.   
   Revenues, which totaled $1.05 billion for the quarter, were up 34.2 percent year-over-year.
   Landstar’s board of directors declared a quarterly dividend of 15 cents per share, payable on June 1 to stockholders of record as of the close of business on May 10.
   Landstar President and CEO Jim Gattoni said, “My expectation is that pricing conditions for truck services in the 2018 second quarter will continue to be very strong with little change in the level of available truck capacity.”