Revenue and Earnings - First quarter revenue of $1.171 billion and earnings per share of $1.32[1][2] - Total revenue for the thirteen weeks ended March 30, 2024, was $1,171,043 thousand, a decrease from $1,435,675 thousand in the same period in 2023[16] Truck Transportation Revenue - Truck transportation revenue hauled by independent business capacity owners and truck brokerage carriers was $1,068.9 million, or 91% of total revenue[4] - Truckload transportation revenue hauled via van equipment was $628.3 million, down from $755.1 million in the first quarter of 2023[4] - Revenue from other truck transportation, largely related to power-only services, was $72.0 million compared to $159.5 million in the first quarter of 2023[4] - Truck transportation revenue decreased to $1,068,932 thousand in Q1 2024 from $1,323,708 thousand in Q1 2023, with van equipment revenue dropping to $628,304 thousand from $755,083 thousand[16] Load and Revenue per Load - Number of loads hauled via truck declined 13% and truck revenue per load declined 7% compared to the first quarter of 2023[5] - Revenue per load for van equipment decreased to $2,101 in Q1 2024 from $2,275 in Q1 2023, while unsided/platform equipment revenue per load slightly decreased to $2,908 from $2,960[16] Gross Profit and Variable Contribution - Gross profit in the first quarter was $113.9 million and variable contribution was $168.2 million[6] - Gross profit margin declined to 9.7% in Q1 2024 from 10.7% in Q1 2023, with gross profit decreasing to $113,902 thousand from $152,948 thousand[19] - Variable contribution margin remained stable at 14.4% in Q1 2024 compared to 14.5% in Q1 2023, with variable contribution decreasing to $168,240 thousand from $208,706 thousand[19] Cash and Investments - Cash and short-term investments totaled approximately $530 million as of March 30, 2024[7] - Trailing twelve-month return on average shareholders' equity was 23% and return on invested capital was 22%[7] Dividends - Quarterly dividend of $0.33 per share declared, payable on May 24, 2024[2] Revenue from Other Carriers - Revenue hauled by rail, air and ocean cargo carriers was $76.8 million, or 7% of total revenue[4] BCO Independent Contractors - BCO Independent Contractors accounted for 39% of total revenue in Q1 2024, up from 36% in Q1 2023[16] - Total available truck capacity providers decreased to 80,858 in Q1 2024 from 102,660 in Q1 2023, with BCO Independent Contractors decreasing to 8,619 from 9,996[16] Costs - Purchased transportation costs decreased to $905,521 thousand in Q1 2024 from $1,101,294 thousand in Q1 2023[19] - Commissions to agents decreased to $97,282 thousand in Q1 2024 from $125,675 thousand in Q1 2023[19] - Insurance-related costs decreased to $26,778 thousand in Q1 2024 from $28,260 thousand in Q1 2023[19]

For the quarter ended March 2024, Landstar System (LSTR) reported revenue of $1.17 billion, down 18.4% over the same period last year. EPS came in at $1.32, compared to $2.17 in the year-ago quarter.The reported revenue represents a surprise of +4.61% over the Zacks Consensus Estimate of $1.12 billion. With the consensus EPS estimate being $1.28, the EPS surprise was +3.13%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Landstar System (LSTR) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $2.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.13%. A quarter ago, it was expected that this freight shipper and warehouser would post earnings of $1.63 per share when it actually produced earnings of $1.62, delivering a surprise of -0.61%.Over the last four ...

JACKSONVILLE, Fla., April 24, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR) ("Landstar" or the "Company") today reported basic and diluted earnings per share ("EPS") of $1.32 in the 2024 first quarter on revenue of $1.171 billion. Landstar also announced today that its Board of Directors declared a quarterly dividend of $0.33 per share payable on May 24, 2024, to stockholders of record as of the close of business on May 8, 2024. "It's been a privilege to join Landstar and work alongside our c ...

Landstar System Inc (LSTR) is scheduled to report first-quarter 2024 results on Apr 24 after market close.The company has an encouraging earnings history, having surpassed the Zacks Consensus Estimate thrice in the preceding four quarters and missing once. The average beat is 1.90%. The Zacks Consensus Estimate for LSTR’s first-quarter 2024 earnings has been revised downward to 5.88% in the past 60 days.Given this backdrop, let’s see how things have shaped up for LSTR this earnings season.The Zacks Consensu ...

Landstar System (LSTR) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on April 24, 2024, might help the stock move higher if these key numbers are better than e ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21238 Landstar System, Inc. (Exact name of registrant as specified in its charter) Delaware 06-1313069 (State or other jurisdiction of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21238 LANDSTAR SYSTEM, INC. (Exact name of registrant as specified in its charter) Delaware 06-1313069 (Sta ...

Landstar System, Inc. (NASDAQ:LSTR) Q3 2023 Earnings Conference Call October 26, 2023 8:00 AM ET Company Participants Jim Gattoni - President and CEO Jim Todd - CFO Joe Beacom - VP, Chief Safety & Operations Officer Conference Call Participants Scott Group - Wolfe Research Jason Seidl - TD Cowen Jack Atkins - Stephens Inc. Stephanie Moore - Jefferies Andrew Cox - Stifel Operator Good morning, and welcome to Landstar System Incorporated's Third Quarter Earnings Release Conference Call. All lines will be in a ...

DESIGNED TO RESPOND BUILT TO DELIVER 2 Non-GAAP Financial Measures: Management believes variable contribution and variable contribution margin are useful measures of the variable costs that we incur at a shipment-by-shipment level attributable to our transportation network of third-party capacity providers and independent agents in order to provide services to our customers. Management believes that operating income as a percentage of variable contribution is a useful measure as: (i) variable costs of reven ...