NEW YORK (TheStreet) -- Shares of Landstar System
(LSTR) are up 4.67% to $68.07 today after the transportation services company reported record quarterly revenue this morning of $814 million, beating the consensus estimate of $752.5 million, with truck transportation making up 94% of its revenue with $764.7 million.
The company also had record quarterly diluted earnings per share of 80 cents, beating the consensus estimate of 76 cents.
Chairman and CEO Henry Gerkens said, "The increase in underlying demand as well as industry-wide truck productivity issues should continue to contribute to the very healthy pricing environment for spot market transactions."
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