Piper Jaffray Comments On Positive Quarter-To-Date Volume For Landstar System

In a report published by Piper Jaffray, Landstar System LSTR provided its regularly scheduled mid-quarter update for 1Q11 on Friday afternoon.

Piper Jaffray reported that management's read on the quarter-to-date volume was mostly positive – with Truck volumes in line with plan and Intermodal, Air, and Ocean ahead. “Further, Truck yields (revenue per load) have also likely sequentially improved and management reaffirmed its prior 1Q11 guidance range of $0.38-$0.45 and a 35% net op margin. Management's Freight expectations calls for a strong March demand environment albeit LSTR stressed the back end loaded nature of typical 1Q. Our 1Q11 EPS of $0.40 is unchanged (vs Consensus $0.41) and we remain Neutral rated.”

Landstar closed on Friday at $44.22.