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 ...

Let's delve deeper. Weak Zacks Rank and Style Score: Landstar currently carries a Zacks Rank #4 (Sell). The company's current Value Score of C shows its unattractiveness. Earnings Expectations: Downbeat earnings expectations cast a shadow over a company's prospects. For second-quarter 2024, LSTR's earnings are expected to decline 20.54% year over year. For 2024, LSTR's earnings are expected to decline 14.27% year over year. Weakness in overall volumes due to headwinds like weak freight conditions, supply-ch ...

A month has gone by since the last earnings report for Landstar System (LSTR) . Shares have added about 1% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Landstar due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Landstar Q1 Earnings Top Landstar first-quarter 202 ...

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 ...

Landstar System, Inc. (NASDAQ:LSTR) Q1 2024 Earnings Call Transcript April 25, 2024 8:00 AM ET Conference Call Participants Good morning, and welcome to Landstar System's First Quarter Earnings Release Conference Call. All lines will be in a listen-only mode until the formal question-and-answer session. Today's call is being recorded. If you have any objections, you may disconnect at this time. James Todd With me this morning are Frank Lonegro, Landstar's President and Chief Executive Officer; and Joe Beaco ...

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 ...