{"id":479878,"date":"2021-04-21T16:18:19","date_gmt":"2021-04-21T20:18:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-01-in-the-2021-first-quarter\/"},"modified":"2021-04-21T16:18:19","modified_gmt":"2021-04-21T20:18:19","slug":"landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-01-in-the-2021-first-quarter","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-01-in-the-2021-first-quarter\/","title":{"rendered":"Landstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.01 in the 2021 First Quarter"},"content":{"rendered":"
\n

JACKSONVILLE, Fla., April 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) reported all-time quarterly record net income of $77.2 million, or $2.01 per diluted share, in the 2021 first quarter, on record first quarter revenue of $1.288 billion. In the 2020 first quarter, net income was $40.9 million, or $1.04 per diluted share, on $927.6 million of revenue. 2021 first quarter revenue, net income and diluted earnings per share increased 39 percent, 89 percent and 93 percent, respectively, over the 2020 first quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was an all-time quarterly record $189.2 million in the 2021 first quarter, 32 percent above 2020 first quarter gross profit of $142.9 million. Note that the adverse impact of the COVID-19 pandemic on the U.S. economy in early 2020 did not have a significant impact on Landstar\u2019s first quarter 2020 results, but did have a significant impact on the Company\u2019s 2020 second quarter results.<\/p>\n

Truck transportation revenue hauled by independent business capacity owners (\u201cBCOs\u201d) and truck brokerage carriers in the 2021 first quarter was $1,193.5 million, or 93 percent of revenue, compared to $854.6 million, or 92 percent of revenue, in the 2020 first quarter. Truckload transportation revenue hauled via van equipment in the 2021 first quarter was $827.2 million compared to $545.3 million in the 2020 first quarter. Truckload transportation revenue hauled via unsided\/platform equipment in the 2021 first quarter was $340.6 million compared to $286.3 million in the 2020 first quarter. Revenue hauled by rail, air and ocean cargo carriers was $79.3 million, or 6 percent of revenue, in the 2021 first quarter compared to $54.7 million, or 6 percent of revenue, in the 2020 first quarter.<\/p>\n

Trailing twelve month return on average shareholders\u2019 equity was 33 percent and return on invested capital, representing net income divided by the sum of average equity plus average debt, was 29 percent. The Company is currently authorized to purchase up to 1,821,030 shares of the Company\u2019s common stock under its previously announced share purchase program. Landstar announced today that its Board of Directors has declared a quarterly dividend of $0.21 per share payable on May 28, 2021, to stockholders of record as of the close of business on May 6, 2021. It is currently the intention of the Board to pay dividends on a quarterly basis going forward.<\/p>\n

\u201cLandstar\u2019s 2021 first quarter set a new standard as the best first quarter financial performance in our history. Revenue was the second highest quarterly revenue in Landstar\u2019s history, second only to the 2020 fourth quarter. And, 2021 first quarter gross profit, net income and diluted earnings per share were each all-time quarterly records. First quarter 2021 operating margin, representing operating income divided by gross profit, was 54.6 percent, also an all-time quarterly record,\u201d said Landstar President and CEO Jim Gattoni. \u201cTypically, truckload volumes in the first quarter of any year are softer than in the second, third and fourth quarters due to seasonality. Given the exceptional performance by Landstar in the 2021 first quarter, I believe the stage has now been set for what should be a record-setting year.\u201d<\/p>\n

\u201cRevenue from truck loads hauled via van equipment exceeded the 2020 first quarter by 52 percent, and revenue from truck loads hauled via unsided\/platform equipment exceeded the 2020 first quarter by 19 percent. Consumer demand for durables, building products and e-commerce drove record quarterly van revenue, while growth in the U.S. metals and machinery sectors continued to drive improvement in unsided\/platform equipment performance. For revenue generated via van equipment in the 2021 first quarter compared to the 2020 first quarter, the number of loads increased 17 percent and revenue per load increased 30 percent. Revenue from truck loads hauled via unsided\/platform equipment continued to improve from the softer conditions that existed throughout most of 2020. The number of loads and revenue per load on loads hauled via unsided\/platform equipment in the 2021 first quarter exceeded the 2020 first quarter by 5 percent and 14 percent, respectively.\u201d\u00a0\u00a0<\/p>\n

Gattoni continued, \u201cIn our 2020 year-end earnings release on January 27, 2021, we provided first quarter revenue guidance of $1.10 billion to $1.15 billion and first quarter diluted earnings per share guidance of $1.55 to $1.65. Actual 2021 first quarter revenue was $1.288 billion and diluted earnings per share was $2.01, both significantly above the high end of our previously issued guidance. Our 2021 first quarter guidance reflected our expectation that revenue per load on loads hauled via truck would exceed the 2020 first quarter in a mid-teen percentage range and the number of loads hauled via truck in the 2021 first quarter would exceed the 2020 first quarter in a high single digit percentage range. Actual performance in the 2021 first quarter significantly exceeded our expectations, as summarized in the following chart:<\/p>\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n % growth over prior year<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Actual<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n Guidance<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n Actual<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Q4 2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n Q1 2021<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n Q1 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Truck revenue per load<\/strong>\n <\/td>\n17%<\/td>\n\u00a0<\/td>\n14% – 16%<\/td>\n\u00a0<\/td>\n24%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Number of truck loads<\/strong>\n <\/td>\n13%<\/td>\n\u00a0<\/td>\n7% – 9%<\/td>\n\u00a0<\/td>\n13%<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

As noted above, revenue per load and the number of loads hauled via truck in the 2021 first quarter exceeded the 2020 first quarter by 24 percent and 13 percent, respectively, as our assumption of decelerating year-over-year volume growth in February and March on softening consumer demand did not transpire. The winter storms that impacted much of the central portion of the country during the last week of Landstar\u2019s fiscal February had a significant impact on freight volumes during that week. We believe these storms temporarily delayed many loads that otherwise would have been hauled in February to instead be hauled in March. After taking this short-term impact into consideration, load volume and revenue per load on loads hauled via truck remained strong through the entirety of the 2021 first quarter and were generally in-line with historical seasonal month-to-month trends, with the exception of truck revenue per load in fiscal March. Revenue per load on loads hauled via truck in March 2021 exceeded March 2020 by an impressive 31 percent, far above the 18 percent and 19 percent month-over-prior-year-month growth experienced in January and February 2021, respectively. Revenue per load on loads hauled via van and unsided\/platform equipment both experienced unusually large percentage increases from February to March.\u201d<\/p>\n

Gattoni continued, \u201cSecond quarter year-over-prior-year revenue and diluted earnings per share comparisons are not meaningful due to the adverse impact the COVID-19 pandemic had on the Company\u2019s 2020 second quarter financial results. On a sequential basis, I expect the strong finish to the 2021 first quarter to continue through the 2021 second quarter. As a result, I expect both revenue per load and the number of loads hauled via truck to be in a mid-single digit percentage range above the 2021 first quarter. As such, I anticipate revenue for the 2021 second quarter to be in a range of $1.40 billion to $1.45 billion.\u201d<\/p>\n

Gattoni concluded, \u201cBased on the range of revenue estimated for the 2021 second quarter, I would anticipate diluted earnings per share to be in a range of $2.20 to $2.30. This range of diluted earnings per share includes insurance and claims expense estimated at 4.3 percent of BCO revenue.\u201d<\/p>\n

Landstar will provide a live webcast of its quarterly earnings conference call tomorrow morning at 8:00 a.m. ET. To access the webcast, visit the Company\u2019s website at www.landstar.com<\/a>; click on \u201cInvestor Relations\u201d and \u201cWebcasts,\u201d then click on \u201cLandstar\u2019s First Quarter 2021 Earnings Release Conference Call.\u201d<\/p>\n

The following is a \u201csafe harbor\u201d statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are \u201cforward-looking statements\u201d. This press release contains forward-looking statements, such as statements which relate to Landstar\u2019s business objectives, plans, strategies and expectations. Terms such as \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cintention,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201cpredicts,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cwill,\u201d the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: the impact of the coronavirus (COVID-19) pandemic; an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; decreased demand for transportation services; substantial industry competition; disruptions or failures in the Company\u2019s computer systems; cyber and other information security incidents; dependence on key vendors; changes in fuel taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; catastrophic loss of a Company facility; intellectual property; unclaimed property; and other operational, financial or legal risks or uncertainties detailed in Landstar\u2019s Form 10K for the 2020 fiscal year, described in Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.<\/p>\n

\n About Landstar:<\/strong>
\n
Landstar System, Inc. is a worldwide, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market\u00ae under the symbol LSTR.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n<\/tr>\n
\n Consolidated Statements of Income<\/strong>\n <\/td>\n<\/tr>\n
(Dollars in thousands, except per share amounts)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 27,<\/td>\n\u00a0<\/td>\nMarch 28,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n1,287,534<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n927,566<\/td>\n\u00a0<\/td>\n<\/tr>\n
Investment income<\/td>\n\u00a0<\/td>\n684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,167<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Costs and expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nPurchased transportation<\/td>\n\u00a0<\/td>\n998,285<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n709,257<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCommissions to agents<\/td>\n\u00a0<\/td>\n100,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,376<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther operating costs, net of gains on asset sales\/dispositions<\/td>\n\u00a0<\/td>\n7,642<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,306<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInsurance and claims<\/td>\n\u00a0<\/td>\n21,505<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,957<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSelling, general and administrative<\/td>\n\u00a0<\/td>\n45,408<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n45,327<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nDepreciation and amortization<\/td>\n\u00a0<\/td>\n12,101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,505<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal costs and expenses<\/td>\n\u00a0<\/td>\n1,184,950<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n874,728<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n103,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,005<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest and debt expense<\/td>\n\u00a0<\/td>\n1,042<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n952<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before income taxes<\/td>\n\u00a0<\/td>\n102,226<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,053<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n24,986<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,158<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n77,240<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n40,895<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n$<\/td>\n2.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.04<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average diluted shares outstanding<\/td>\n\u00a0<\/td>\n38,404,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,254,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dividends per common share<\/td>\n$<\/td>\n0.210<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.185<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n<\/tr>\n
\n Consolidated Balance Sheets<\/strong>\n <\/td>\n<\/tr>\n
(Dollars in thousands, except per share amounts)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 27,<\/td>\n\u00a0<\/td>\nDecember 26,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCash and cash equivalents<\/td>\n$<\/td>\n219,389<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n249,354<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nShort-term investments<\/td>\n\u00a0<\/td>\n41,407<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,375<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTrade accounts receivable, less allowance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nof $7,095 and $8,670<\/td>\n\u00a0<\/td>\n824,872<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n764,169<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther receivables, including advances to independent<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\ncontractors, less allowance of $6,711 and $7,239<\/td>\n\u00a0<\/td>\n40,067<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134,757<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther current assets<\/td>\n\u00a0<\/td>\n11,584<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,520<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal current assets<\/td>\n\u00a0<\/td>\n1,137,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,208,175<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating property, less accumulated depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nand amortization of $309,464 and $299,407<\/td>\n\u00a0<\/td>\n288,041<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n296,996<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n40,732<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,949<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n108,373<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n107,679<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n1,574,465<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,653,799<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCash overdraft<\/td>\n$<\/td>\n74,754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n74,748<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccounts payable<\/td>\n\u00a0<\/td>\n414,440<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n380,505<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCurrent maturities of long-term debt<\/td>\n\u00a0<\/td>\n32,800<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,415<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInsurance claims<\/td>\n\u00a0<\/td>\n39,229<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,774<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nDividends payable<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,770<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther current liabilities<\/td>\n\u00a0<\/td>\n101,442<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,925<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal current liabilities<\/td>\n\u00a0<\/td>\n662,665<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n806,137<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term debt, excluding current maturities<\/td>\n\u00a0<\/td>\n58,196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65,359<\/td>\n\u00a0<\/td>\n<\/tr>\n
Insurance claims<\/td>\n\u00a0<\/td>\n39,850<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,867<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes and other non-current liabilities<\/td>\n\u00a0<\/td>\n50,835<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,601<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholders’ equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCommon stock, $0.01 par value, authorized 160,000,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nshares, issued 68,212,296 and 68,183,702<\/td>\n\u00a0<\/td>\n682<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n682<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAdditional paid-in capital<\/td>\n\u00a0<\/td>\n232,597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n228,875<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRetained earnings<\/td>\n\u00a0<\/td>\n2,115,411<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,046,238<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCost of 29,803,726 and 29,797,639 shares of common<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nstock in treasury<\/td>\n\u00a0<\/td>\n(1,582,818<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,581,961<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n(2,953<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,999<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal shareholders’ equity<\/td>\n\u00a0<\/td>\n762,919<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n691,835<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and shareholders’ equity<\/td>\n$<\/td>\n1,574,465<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,653,799<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Supplemental Information<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 27,<\/td>\n\u00a0<\/td>\nMarch 28,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
\n Revenue generated through (in thousands):<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n$<\/td>\n827,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n545,307<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n340,632<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n286,328<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n25,670<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,941<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n1,193,489<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n854,576<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n31,708<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,129<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n47,600<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,587<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther (1)<\/sup><\/td>\n\u00a0<\/td>\n14,737<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,274<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,287,534<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n927,566<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue on loads hauled via BCO Independent Contractors (2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nincluded in total truck transportation<\/td>\n$<\/td>\n560,114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n431,279<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Number of loads:<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n\u00a0<\/td>\n368,873<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n315,345<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n126,265<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n120,589<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n40,692<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,356<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n535,830<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n474,290<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n11,700<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,540<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n9,230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,070<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n556,760<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n492,900<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nLoads hauled via BCO Independent Contractors (2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nincluded in total truck transportation<\/td>\n\u00a0<\/td>\n245,950<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n233,400<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Revenue per load:<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n$<\/td>\n2,242<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,729<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n2,698<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,374<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n631<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n2,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,802<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n2,710<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,438<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n5,157<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,761<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue per load on loads hauled via BCO Independent Contractors (2)<\/sup><\/td>\n$<\/td>\n2,277<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,848<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Revenue by capacity type (as a % of total revenue);<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck capacity providers:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nBCO Independent Contractors (2)<\/sup><\/td>\n\u00a0<\/td>\n44<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTruck Brokerage Carriers<\/td>\n\u00a0<\/td>\n49<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther<\/td>\n\u00a0<\/td>\n1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 27,<\/td>\n\u00a0<\/td>\nMarch 28,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
\n Truck Capacity Providers<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nBCO Independent Contractors (2)<\/sup><\/td>\n\u00a0<\/td>\n10,498<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,444<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck Brokerage Carriers:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nApproved and active (3)<\/sup><\/td>\n\u00a0<\/td>\n49,538<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,879<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther approved<\/td>\n\u00a0<\/td>\n23,246<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,657<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,784<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,536<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal available truck capacity providers<\/td>\n\u00a0<\/td>\n83,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n64,980<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTrucks provided by BCO Independent Contractors (2)<\/sup><\/td>\n\u00a0<\/td>\n11,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,112<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(1) Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by\u00a0Landstar Metro.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(2) BCO Independent Contractors are independent contractors who provide truck capacity to the Company under exclusive lease arrangements.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(3) Active refers to Truck Brokerage Carriers who moved at least one load in the 180 days immediately preceding the fiscal quarter end.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

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Contact: Jim Gattoni\r\nLandstar System, Inc.\r\nwww.landstar.com\r\n904-398-9400<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
JACKSONVILLE, Fla., April 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) reported all-time quarterly record net income of $77.2 million, or $2.01 per diluted share, in the 2021 first quarter, on record first quarter revenue of $1.288 billion. In the 2020 first quarter, net income was $40.9 million, or $1.04 per diluted share, on $927.6 million of revenue. 2021 first quarter revenue, net income and diluted earnings per share increased 39 percent, 89 percent and 93 percent, respectively, over the 2020 first quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was an all-time quarterly record $189.2 million in the 2021 first quarter, 32 percent above 2020 first quarter gross profit … <\/p>\n
Continue reading “Landstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.01 in the 2021 First Quarter”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-479878","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLandstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.01 in the 2021 First Quarter - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-01-in-the-2021-first-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.01 in the 2021 First Quarter - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"JACKSONVILLE, Fla., April 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. 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