Financial Performance - Landstar reported Q4 2024 revenue of $1.209 billion, a slight increase from $1.204 billion in Q4 2023, marking year-over-year growth for the first time since Q3 2022[2][4]. - Basic and diluted earnings per share (EPS) for Q4 2024 were $1.31, down from $1.62 in Q4 2023[3][4]. - Total revenue for the fiscal year ended December 28, 2024, was $4,819,245, a decrease of 9.1% from $5,303,322 in the previous year[22]. - Gross profit margin decreased to 9.5% for the fiscal year ended December 28, 2024, compared to 10.3% in the previous year[22]. - Revenue from truck transportation totaled $4,346,554, down 9.9% from $4,829,530 in the previous year[22]. - Total costs of revenue for the fiscal year were $4,363,231, a decrease of 8.3% from $4,757,995 in the previous year[22]. Truck Transportation - Truck transportation revenue accounted for 89% of total revenue in Q4 2024, totaling $1.081 billion, compared to 90% in Q4 2023[4]. - The number of loads hauled via truck decreased by 3.4% year-over-year in Q4 2024, while truck revenue per load increased by 3.1%[5]. - The number of loads for truck transportation decreased to 1,960,960, a decline of 8.4% from 2,141,400 in the previous year[22]. - Revenue per load for van equipment was $2,091, a decrease of 4.0% from $2,177 in the previous year[22]. - The number of approved and active truck brokerage carriers decreased to 43,718 from 49,111 in the previous year[20]. - The number of trucks provided by BCO Independent Contractors decreased to 8,843 from 9,809 in the previous year[20]. Profitability and Costs - Gross profit for Q4 2024 was $109 million, down from $125 million in Q4 2023, and variable contribution was $167 million compared to $178 million in the prior year[6]. - Insurance and claims costs were 6.7% of BCO revenue in Q4 2024, significantly higher than the historical average of 4.7% from 2019 to 2023[5]. - Variable contribution margin for the fiscal year was 14.1%, slightly down from 14.6% in the previous year[22]. Shareholder Returns - Landstar returned $120.5 million to stockholders through dividends in the 2024 fiscal year and repurchased approximately 452,000 shares at a cost of $82.1 million[2]. - The company declared a quarterly dividend of $0.36 per share, payable on March 11, 2025[2]. Assets and Equity - As of December 28, 2024, Landstar had cash and short-term investments totaling approximately $567 million, with a trailing twelve-month return on average shareholders' equity of 20%[7]. - Total assets as of December 28, 2024, were $1.813 billion, with total liabilities of $840 million and shareholders' equity of $972 million[16].

Core Insights - Landstar System, Inc. reported a basic and diluted earnings per share (EPS) of $1.31 for the fourth quarter of 2024, with total revenue of $1.209 billion, marking a year-over-year revenue growth for the first time since Q3 2022 [1][4] - The company experienced a sequential increase in truck pricing and strong performance in its unsided/platform service offering, contributing to the revenue growth [1][4] - Landstar continues to return capital to shareholders through stock buybacks and dividends, purchasing approximately 452,000 shares for $82.1 million and paying $120.5 million in dividends during the fiscal year [1][4] Financial Performance - Total revenue for Q4 2024 was $1,209 million, slightly up from $1,204 million in Q4 2023 [2][4] - Gross profit decreased to $109 million in Q4 2024 from $125 million in Q4 2023, while variable contribution fell from $178 million to $167 million [2][6] - Operating income also declined from $74.6 million in Q4 2023 to $57.8 million in Q4 2024 [2][6] Revenue Breakdown - Truck transportation revenue accounted for 89% of total revenue in Q4 2024, totaling $1,081 million, compared to $1,085 million (90%) in Q4 2023 [4][15] - Truckload transportation revenue via van equipment decreased from $619 million in Q4 2023 to $597 million in Q4 2024, while revenue from unsided/platform equipment increased from $340 million to $362 million [4][15] - Revenue from rail, air, and ocean cargo carriers rose to $107 million (9% of revenue) in Q4 2024, up from $89 million (7%) in Q4 2023 [4][15] Operational Metrics - The number of loads hauled via truck declined by 3.4% year-over-year in Q4 2024, although truck revenue per load increased by 3.1% [5][6] - Insurance and claims costs represented 6.7% of BCO revenue in Q4 2024, significantly higher than the historical average of 4.7% from 2019 to 2023, driven by increased cargo claim costs related to fraud and theft [5][6] Shareholder Returns - Landstar's Board of Directors declared a quarterly dividend of $0.36 per share, payable on March 11, 2025, to shareholders of record as of February 18, 2025 [1][4] - The company has authorization to repurchase an additional 2,547,981 shares under its share purchase program [1][4] Balance Sheet Strength - As of December 28, 2024, Landstar had cash and short-term investments totaling approximately $567 million, with a trailing twelve-month return on average shareholders' equity of 20% [7][14]

Core Viewpoint - Landstar System, Inc. (LSTR) is expected to report a decline in earnings and revenues for the fourth quarter of 2024, influenced by a downturn in the freight market and reduced demand for freight services [2][4]. Financial Performance Expectations - The Zacks Consensus Estimate for LSTR's fourth-quarter 2024 earnings per share (EPS) is $1.36, reflecting a 16.1% decline from the previous year [2]. - The expected revenue for the same quarter is $1.20 billion, indicating a 0.5% decrease year over year [2]. - The company anticipates fourth-quarter 2024 EPS to be in the range of $1.25 to $1.45 per share [5]. Earnings Surprise History - Landstar has a mixed earnings surprise history, outperforming the Zacks Consensus Estimate in two of the last four quarters, with an average beat of 0.12% [3]. - In the third quarter of 2024, LSTR reported an EPS of $1.41, which missed the Zacks Consensus Estimate of $1.46 and represented a 17.5% year-over-year decline [7]. Influencing Factors - The company's top-line performance in Q4 is expected to be negatively impacted by a downturn in the freight market, characterized by reduced demand for freight services and increased truck capacity [4]. - LSTR expects fourth-quarter 2024 truckloads to be either 4% below or up to 1.0% above the actuals from the fourth quarter of 2023 [4]. Earnings Prediction Model - The current model does not predict a conclusive earnings beat for Landstar, as it has an Earnings ESP of +1.58% and a Zacks Rank of 5 (Strong Sell) [6].

Company Overview - Landstar System, Inc. is a technology-enabled, asset-light provider of integrated transportation management solutions, delivering safe and specialized transportation services to a broad range of customers [2] - The company utilizes a network of agents, third-party capacity providers, and employees to operate its services [2] - Landstar is certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety, and security management system standards [2] - The company is headquartered in Jacksonville, Florida, and its common stock trades on The NASDAQ Stock Market under the symbol LSTR [2] Upcoming Financial Results - Landstar System, Inc. will release its 2024 fourth quarter results after the market closes on January 29, 2025 [1] - A quarterly conference call with analysts and investors will be held at 4:30 p.m. ET on the same day to discuss the fourth quarter results and current outlook [1] - The conference call will be accessible via webcast and will also be available for telephone replay for 48 hours for those unable to participate live [1]

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Landstar System, Inc. (LSTR) ) is currently mired in multiple headwinds, which, we believe, have made it an unimpressive investment option.Let’s delve deeper.Southward Earnings Estimate Revision:The Zacks Consensus Estimate for third-quarter 2024 earnings has been revised 15.6% downward over the past 90 days. For 2024, the consensus mark for earnings has moved 4.4% south in the same time frame. The bearish alterations in estimate revisions underscore a notable decline in brokers' confidence in the stock.Wea ...

Landstar System (LSTR) came out with quarterly earnings of $1.41 per share, missing the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.71 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.43%. A quarter ago, it was expected that this freight shipper and warehouser would post earnings of $1.46 per share when it actually produced earnings of $1.48, delivering a surprise of 1.37%. Over the last fou ...

JACKSONVILLE, Fla., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ: LSTR) ("Landstar" or the "Company") today reported basic and diluted earnings per share ("EPS") of $1.41 in the 2024 third quarter on revenue of $1.214 billion. "Consistent with the first half of 2024, the freight environment during the third quarter remained challenging. The Landstar team of independent business owners and employees continued to perform admirably given this backdrop," said Landstar President and Chief Exec ...

JACKSONVILLE, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR), announced today it will release its 2024 third quarter results after the market closes on Tuesday, October 29, 2024, and will then hold its quarterly conference call with analysts and investors at 4:30 p.m. ET that evening to discuss the third quarter results and current outlook. To access the webcast, visit investor.landstar.com; click on "Webcasts"; and then "Landstar's Third Quarter 2024 Earnings Release Conference ...

Landstar System (LSTR) is benefiting from its robust financial stability and strong liquidity. The shareholderfriendly approach also bodes well for the company. However, the company is grappling with the freight market downturn. Factors Favoring LSTR Landstar's commitment to shareholder value is commendable, as the company consistently returns significant capital to its investors through stock repurchase programs and dividends. In the first half of 2024, Landstar repurchased shares of its common stock for a ...