Jacksonville, Fla.-based Landstar System, Inc. reported record first quarter revenues of $780.9 million for the first quarter of 2016.
The Thomasville, N.C.-based less-than-truckload carrier surpassed analyst expectations, posting earnings per share of $0.80 for the quarter.
The Atlanta-based parcel giant reported increased revenues in all of its business segments, and surpassed analyst expectations with an earnings per share of $1.32 for the quarter.
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The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.
However, the Baltic and International Maritime Council said the performance of the new ocean carrier alliances that set sail at the beginning of the month will be key in 2017.
The U.S. Department of Justice served several container shipping lines with subpoenas last week in Sausalito, Calif., where their top executives were attending industry meetings.