Research Desk Line-up: Knight-Swift Transportation Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Landstar System, Inc. (NASDAQ: LSTR) ("Landstar"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=LSTR, following the Company's posting of its financial results on October 25, 2017, for the third quarter of the fiscal year 2017. The Jacksonville, Florida-based Company's quarterly revenues and diluted earnings per share (EPS) rose 20% and 17% y-o-y, respectively, beating analysts' forecasts. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Trucking industry. Pro-TD has currently selected Knight-Swift Transportation Holdings Inc. (NYSE: KNX) for due-diligence and potential coverage as the Company announced on November 06, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Knight-Swift Transportation when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LSTR; also brushing on KNX. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=LSTR
http://protraderdaily.com/optin/'symbol=KNX
Earnings Reviewed
During Q3 FY17, Landstar reported record revenues of $943.43 million, which came in above the $787.94 million recorded at the end of Q3 FY16, and which also outperformed Wall Street's expectations of $893.9 million. The Company's investment income came in at $0.71 million for Q3 FY17, rising from $0.36 million in Q3 FY16.
The freight shipper and warehouse reported a net income of $42.44 million, or $1.01 per diluted common share, during Q3 FY17, up from $36.28 million, or $0.86 per diluted common share, in the prior year's same quarter. Meanwhile, market analysts had expected the Company to report adjusted EPS of $0.96 per diluted share for the reported quarter.
Operating Metrics
For Q3 FY17, the trucking Company's total costs and expenses were $883.57 million compared to $729.83 million in Q3 FY16. The Company's operating income came in at $60.57 million in Q3 FY17 versus $58.46 million in the last year's comparable quarter. Additionally, the Company's operating margin was 43.3% in Q3 FY17 compared to 48.0% in Q3 FY16.
In Q3 FY17, total available truck capacity providers were 57,002 compared to 55,440 in Q3 FY16. Furthermore, the Company's trucks provided by BCO Independent Contractors were 9,548 as on September 30, 2017, compared to 9,510 as on September 24, 2016.
Revenue Segmentation
During the quarter ended September 30, 2017, the Truck Transportation segment's revenues came in at $877.62 million compared to $732.86 million in the year-ago corresponding period. Furthermore, the segment's number of loads was 490,070 for Q3 FY17 compared to 431,870 in Q3 FY16.
The Rail Intermodal segment reported revenues of $24.21 million in Q3 FY17 compared to $24.65 million in Q3 FY16. Moreover, the segment's number of loads stood was 11,080 in Q3 FY17 compared to 11,940 in Q3 FY16.
Landstar's Ocean & Air Cargo Carriers segment generated revenues amounting to $29.52 million in Q3 FY17, which came in above the revenue numbers of $18.79 million in the last year's same quarter. In Q3 FY17, the segment's number of loads came in at 6,210 versus 5,130 in Q3 FY16.
Cash Flow and Balance Sheet
In the three quarters ended September 30, 2017, Landstar generated $132.26 million of cash from operations versus $171.30 million in the previous year's comparable period. The Company had $249.74 million of cash and cash equivalents as on September 30, 2017, compared to $178.90 million at the close of books on December 31, 2016. Furthermore, the Company's debt was down to $76.79 million as on September 30, 2017, from the $93.23 million recorded on December 31, 2016.
Dividend
In its earnings press release, Landstar's Board of Directors declared a quarterly dividend of $0.10 per share, payable on December 08, 2017, to stockholders of record as of the close of business on November 14, 2017.
Stock Performance
Landstar System's share price finished yesterday's trading session at $96.80, advancing 1.84%. A total volume of 268.38 thousand shares have exchanged hands. The Company's stock price surged 18.70% in the last three months, 18.19% in the past six months, and 19.80% in the previous twelve months. Additionally, the stock rallied 13.48% since the start of the year. Shares of the Company have a PE ratio of 26.76 and have a dividend yield of 0.41%. The stock currently has a market cap of $4.05 billion.
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