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 ...

JACKSONVILLE, Fla., May 07, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR) announced today its participation in the Bank of America 2024 Annual Investment Conference. Landstar's "fireside chat" discussion begins at 10:20 a.m. ET on Tuesday, May 14. It will be broadcast live via the Internet at www.investor.landstar.com; click on "Webcasts." The Bank of America 2024 Annual Investment Conference webcast will be available on Landstar's website through May 22. For more information about the webcas ...

Landstar System, Inc. (LSTR) first-quarter 2024 earnings per share (EPS) of $1.32 beat the Zacks Consensus Estimate of $1.28 but fell 39.2% year over year. Revenues of $1,171 million outpaced the Zacks Consensus Estimate of $1,119.5 million but declined 18.4% year over year.Operating income fell 40.8% from the prior-year quarter’s figure to $59.96 million. Total costs and expenses (on a reported basis) decreased 16.6% to $1,114.49 million.Total revenues in the truck transportation segment — contributing to ...

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 ...