Core Insights - Landstar System (LSTR) reported a revenue of $1.23 billion for the quarter ended June 2024, reflecting a decrease of 10.8% compared to the same period last year [7] - The earnings per share (EPS) for the quarter was $1.48, down from $1.85 in the year-ago quarter [7] - Key metrics such as revenue per load and total revenue indicate a decline in performance, impacting investor projections [8] Revenue Metrics - Revenue per load for ocean and air cargo carriers was reported at $3,085, lower than the estimated $3,226.95 [2] - Rail intermodal revenue was $77.71 million, significantly below the estimated $97.15 million, marking a year-over-year decline of 34.2% [3] - Truck transportation revenue was $1.11 billion, compared to the estimated $1.16 billion, representing an 11.3% decrease year-over-year [10] Performance Comparison - The revenue from other truck transportation segments was $71.31 million, exceeding the estimated $58.95 million, but still showing a decline of 5.5% from the previous year [5] - Revenue from other categories was $25.70 million, below the estimated $27.64 million, with a year-over-year change of -2% [11] - The reported revenue of $1.23 billion was a surprise of -2.45% compared to the Zacks Consensus Estimate of $1.26 billion [13] Analyst Estimates - The number of loads for rail intermodal was 523,700, compared to the average estimate of 538,671 [14] - The total number of loads for truck transportation was 507,950, below the average estimate of 522,810 [15] - Investment income was reported at $3.65 million, significantly higher than the average estimate of $2.24 million, showing a year-over-year increase of 47.1% [17] Stock Performance - Landstar shares have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of +0.1% [6] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [6]

Company Overview - Landstar System (LSTR) reported quarterly earnings of $1.48 per share, exceeding the Zacks Consensus Estimate of $1.46 per share, but down from $1.85 per share a year ago [2] - The company posted revenues of $1.23 billion for the quarter, missing the Zacks Consensus Estimate by 2.45%, and down from $1.37 billion year-over-year [3] - Over the last four quarters, Landstar has surpassed consensus EPS estimates three times [5] Market Performance - Landstar shares have declined approximately 1.3% since the beginning of the year, while the S&P 500 has gained 14.5% [6] - The current estimate revisions trend for Landstar is unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [4] Industry Context - The Transportation - Truck industry, to which Landstar belongs, is currently ranked in the bottom 13% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $1.69 on revenues of $1.33 billion, and for the current fiscal year, it is $6.25 on revenues of $5.14 billion [13] - Management's commentary during the earnings call will be crucial for understanding the sustainability of the stock's immediate price movement based on recent results and future expectations [11]

by Industry Served with Revenue Share Indicated Amounts in Percent Gross Profit Date 2 2Q 2024 The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995. Statements made in this slide presentation that are not based on historical facts are "forward-looking statements." This presentation may make certain statements containing forward-looking statements, such as statements which relate to Landstar's business objectives, plans, strategies and expectations. Such state ...

Exhibit 99.1 Landstor System, Inc. 13410 Sotton Park Drive, Soc.et. 13410 Sotton Park Drive, Soc.224 1341 For Immediate Release July 30, 2024 LANDSTAR SYSTEM REPORTS SECOND QUARTER REVENUE OF $1.225B AND EARNINGS PER SHARE OF $1.48 AND ANNOUNCES 9% INCREASE TO QUARTERLY DIVIDEND Jacksonville, FL—Landstar System, Inc. (NASDAQ: LSTR) ("Landstar" or the "Company") today reported basic and diluted earnings per share ("EPS") of $1.48 in the 2024 second quarter on revenue of $1.225 billion. "The Landstar network ...

Landstar System, Inc. and Subsidiary Supplemental Information (Unaudited) (2) Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by Landstar Metro. Costs and expenses: Purchased transportation Commissions to agents Other operating costs, net of gains on asset sales/dispositions Insurance and claims Selling, general and administrative Depreciation and amortization Average basic and diluted shares outstanding (1) Include ...

JACKSONVILLE, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ: LSTR) ("Landstar" or the "Company") today reported basic and diluted earnings per share ("EPS") of $1.48 in the 2024 second quarter on revenue of $1.225 billion. "The Landstar network of independent business owners performed admirably in a challenging freight transportation environment," said Landstar President and Chief Executive Officer Frank Lonegro. "During the second quarter, we were encouraged to see our first sequent ...

About Landstar: JACKSONVILLE, Fla., July 16, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR), announced today it will release its 2024 second quarter results after the market closes on Tuesday, July 30, 2024, and will then hold its quarterly conference call with analysts and investors at 5:00 p.m. ET that evening to discuss the second quarter results and current outlook. To access the webcast, visit investor.landstar.com; click on "Webcasts"; and then "Landstar's Second Quarter 2024 Earnings Re ...

Core Viewpoint - Landstar System, Inc. (LSTR) is currently facing multiple headwinds that negatively impact its investment attractiveness, including declining earnings expectations and weak freight conditions [8]. Earnings Expectations - For the second quarter of 2024, LSTR's earnings are projected to decline by 20.54% year over year, while for the full year 2024, a decline of 14.27% is expected [3]. - The Zacks Consensus Estimate for second-quarter 2024 earnings has been revised downward by 11.9% over the past 90 days, and the consensus for 2024 earnings has decreased by 7.5% in the same timeframe [8]. Industry Challenges - The trucking industry is experiencing significant challenges, including driver shortages as older drivers retire and younger generations show less interest in the profession [4]. - Weak freight conditions and supply chain issues are contributing to a decline in overall volumes, adversely affecting LSTR's top line [4]. Price Performance - LSTR shares have decreased by 4.6% over the past year, contrasting with the industry's growth of 0.5% [9]. - The company anticipates a decline in truck loads for the second quarter of 2024 in the range of 5-9% year over year, with truck revenue per load expected to decrease between 0% and 4% year over year [9]. Comparisons with Peers - In the Zacks Transportation sector, GATX Corporation and Trinity Industries, Inc. are better-ranked stocks, both carrying a Zacks Rank 2 (Buy) [5]. - GATX's expected earnings growth rate for 2024 is 6.79%, with shares rising by 18.4% in the past year [6]. - Trinity Industries has raised its 2024 earnings per share guidance to a range of $1.35 to $1.55, up from a previous range of $1.30 to $1.50 [12].

Core Viewpoint - Landstar System's recent earnings report shows a decline in both earnings and revenues year over year, raising concerns about future performance as estimates trend downward [2][8]. Financial Performance - Q1 2024 earnings per share (EPS) were $1.32, exceeding the Zacks Consensus Estimate of $1.28 but down 39.2% from the previous year [2] - Revenues for Q1 2024 reached $1,171 million, surpassing the Zacks Consensus Estimate of $1,119.5 million but reflecting an 18.4% decline year over year [2] - Operating income fell 40.8% to $59.96 million compared to the prior-year quarter [2] - Total costs and expenses decreased 16.6% to $1,114.49 million [2] Segment Performance - Truck transportation segment revenues, which account for 91.2% of total revenues, were $1,068.93 million, down 19.2% from the same quarter last year [3] - Rail intermodal revenues decreased 11.5% to $22.69 million year over year [3] - Ocean and air-cargo carrier segment revenues declined 11.5% to $54.07 million [3] - Other revenues saw a slight increase of 0.4% to $25.34 million [3] Liquidity and Capital Management - As of the end of Q1 2024, Landstar had cash and cash equivalents of $467.67 million, down from $481.04 million at the end of the previous quarter [4] - Long-term debt (excluding current maturities) was $38.49 million, reduced from $43.26 million in the prior quarter [4] Dividends - The board of directors declared a quarterly dividend of 33 cents per share, payable on May 24, 2024, to stockholders of record as of May 8, 2024 [5] Estimate Trends - There has been a downward trend in estimates, with the consensus estimate shifting down by 9.64% [6] - The stock currently holds a Zacks Rank of 4 (Sell), indicating expectations of below-average returns in the coming months [8] VGM Scores - Landstar has a Growth Score of A but a low Momentum Score of F, and a Value Score of D, placing it in the bottom 40% for this investment strategy [7] - The overall aggregate VGM Score is C, which is relevant for investors not focused on a single strategy [7]

Landstar System, Inc. (LSTR) is being hurt by weak freight conditions. The top line has been suffering mainly due to the below-par performance of its key segment, namely, truck transportation. Revenues are likely to be weak going forward as well. LSTR expects second-quarter 2024 truckload to decline in the range of 5%-9% on a year-over-year basis and truck revenue per load to decline in the range of 0%-4% on a year-over-year basis. Weakness in overall volumes due to headwinds like weak freight conditions, s ...