Landstar System Reports Third Quarter Fiscal 2024 Results

Landstar System Inc. recently released its financial results for the third quarter of fiscal 2024 in a current report filed with the Securities and Exchange Commission. The company’s press release detailed its performance for the period ending October 29, 2024.

In the results, Landstar System Inc. noted a sequential increase in truck revenue per load for the third quarter of 2024, which exceeded typical seasonality trends. This period also marked the first year-over-year increase in truck revenue per load since the third quarter of 2022.

The company reported total revenue of $1.2139 billion for the third quarter of 2024, showing a decrease from $1.2893 billion in the same period a year earlier. Operating income amounted to $63.1 million, down 21.4% from $80.3 million in the third quarter of 2023. Earnings per share for the third quarter of fiscal 2024 were noted at $1.41, a 17.5% decrease from the previous year’s $1.71.

Landstar also detailed its guidance for the fourth quarter of 2024, projecting consolidated revenue in the range of $1.150 to $1.250 billion. The company expects truck loads to be approximately 4% below to 1% above the previous year and anticipates earnings per share in the range of $1.25 to $1.45.

The company shared its commitment to investing in leading-edge technology and new equipment, supporting its network of entrepreneurs during this period. Landstar System Inc.’s focus on maintaining a strong balance sheet and returning capital to stockholders remained evident in its recent financial disclosures.

Landstar System Inc. continues to operate within a network of over 1,100 agents, serving more than 25,000 customers with a capacity of over 78,000 employees. The company’s diligent approach to financial management and operational efficiency remains a key focus area as it navigates the evolving market conditions in the transportation industry.

The financial results and strategic outlook of Landstar System Inc. provide key insights into the company’s performance and direction as it progresses through the fiscal year 2024. Investors and stakeholders will be closely monitoring the company’s progress as it executes its strategies and adapts to changing market dynamics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Landstar System’s 8K filing here.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.