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Landstar (LSTR) Picks Fred Pensotti as Chief Financial Officer
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Landstar System, Inc. (LSTR - Free Report) announced Fred Pensotti as its new chief financial officer.
Having more than 20 years of experience in strategic business and financial leadership at large corporations, Pensotti served as chief financial officer of One Call, a healthcare services company, prior to joining Landstar. Before One Call, he worked as chief financial officer at Radial, Inc., an e-commerce company, and Interline Brands (acquired by The Home Depot), a wholesale distributor of maintenance, repair and operations products. This highlights Pensotti’s experience of working in various industries.
As chief financial officer, Pensotti is responsible for protecting Landstar’s assets, besides managing the financial and administrative operations.
With the economy gradually recovering, Landstar is benefiting from improving freight market conditions, as evidenced by its first-quarter 2021 results. The company’s earnings of $2.01 per share not only surpassed the Zacks Consensus Estimate of $1.61 but also surged 93.3% year over year. Revenues of $1,287.5 million outperformed the consensus mark of $1,142.5 million and also jumped 38.8% year over year. The top line benefited from strong performances of the truck transportation, rail intermodal, and ocean and air cargo carriers segments. Higher truck rates owing to tight truck capacity are also boosting the company's performance. Anticipating favorable market conditions, such as strong consumer demand and tight truck capacity to continue, Landstar expects revenues as well as earnings per share to steadily increase in the second quarter of 2021 as well. The company forecasts earnings per share in the band of $2.20-$2.30 for the ongoing quarter. Moreover, it expects revenues in the range of $1.40-$1.45 billion.
Improving freight scenario has also boosted the first-quarter performance of fellow industry players like Old Dominion Freight Line, Inc. (ODFL - Free Report) , Werner Enterprises, Inc. (WERN - Free Report) and Knight-Swift Transportation Holdings, Inc. (KNX - Free Report) .
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Landstar (LSTR) Picks Fred Pensotti as Chief Financial Officer
Landstar System, Inc. (LSTR - Free Report) announced Fred Pensotti as its new chief financial officer.
Having more than 20 years of experience in strategic business and financial leadership at large corporations, Pensotti served as chief financial officer of One Call, a healthcare services company, prior to joining Landstar. Before One Call, he worked as chief financial officer at Radial, Inc., an e-commerce company, and Interline Brands (acquired by The Home Depot), a wholesale distributor of maintenance, repair and operations products. This highlights Pensotti’s experience of working in various industries.
As chief financial officer, Pensotti is responsible for protecting Landstar’s assets, besides managing the financial and administrative operations.
With the economy gradually recovering, Landstar is benefiting from improving freight market conditions, as evidenced by its first-quarter 2021 results. The company’s earnings of $2.01 per share not only surpassed the Zacks Consensus Estimate of $1.61 but also surged 93.3% year over year. Revenues of $1,287.5 million outperformed the consensus mark of $1,142.5 million and also jumped 38.8% year over year. The top line benefited from strong performances of the truck transportation, rail intermodal, and ocean and air cargo carriers segments. Higher truck rates owing to tight truck capacity are also boosting the company's performance. Anticipating favorable market conditions, such as strong consumer demand and tight truck capacity to continue, Landstar expects revenues as well as earnings per share to steadily increase in the second quarter of 2021 as well. The company forecasts earnings per share in the band of $2.20-$2.30 for the ongoing quarter. Moreover, it expects revenues in the range of $1.40-$1.45 billion.
Improving freight scenario has also boosted the first-quarter performance of fellow industry players like Old Dominion Freight Line, Inc. (ODFL - Free Report) , Werner Enterprises, Inc. (WERN - Free Report) and Knight-Swift Transportation Holdings, Inc. (KNX - Free Report) .
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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