{"id":515963,"date":"2021-07-21T16:18:37","date_gmt":"2021-07-21T20:18:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-40-in-the-2021-second-quarter\/"},"modified":"2021-07-21T16:18:37","modified_gmt":"2021-07-21T20:18:37","slug":"landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-40-in-the-2021-second-quarter","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-all-time-quarterly-record-diluted-earnings-per-share-of-2-40-in-the-2021-second-quarter\/","title":{"rendered":"Landstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.40 in the 2021 Second Quarter"},"content":{"rendered":"
\n

JACKSONVILLE, Fla., July 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) reported all-time quarterly record net income of $92.3 million, or $2.40 per diluted share, in the 2021 second quarter, on record quarterly revenue of $1.571 billion. Landstar reported net income of $24.3 million, or $0.63 per diluted share, on $824 million of revenue in the 2020 second quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) also reached an all-time quarterly record of $220.8 million in the 2021 second quarter compared to $113.1 million in the 2020 second quarter. Given the significant adverse impact of the COVID-19 pandemic on the U.S. economy and the Company\u2019s financial results during the 2020 second quarter, quarter-over-prior-year-quarter comparisons are not meaningful. Comparing the 2021 second quarter to the 2021 first quarter, however, puts into context the strength of our 2021 second quarter financial performance. 2021 first quarter revenue was the second highest quarterly revenue in Landstar history and 2021 first quarter gross profit established a new all-time quarterly record. In the 2021 second quarter compared to the 2021 first quarter, revenue increased $283 million and gross profit increased approximately $32 million. These amounts of growth in revenue and gross profit from the 2021 first quarter to the 2021 second quarter were each all-time first to second quarter records.<\/p>\n

Truck transportation revenue hauled by independent business capacity owners (\u201cBCOs\u201d) and truck brokerage carriers in the 2021 second quarter was $1.444 billion, or 92 percent of revenue, compared to $753 million, or 91 percent of revenue, in the 2020 second quarter. Truckload transportation revenue hauled via van equipment in the 2021 second quarter was $970.9 million compared to $483.0 million in the 2020 second quarter. Truckload transportation revenue hauled via unsided\/platform equipment in the 2021 second quarter was $444.3 million compared to $247.4 million in the 2020 second quarter. Revenue hauled by rail, air and ocean cargo carriers was $104.6 million, or 7 percent of revenue, in the 2021 second quarter compared to $53.8 million, or 7 percent of revenue, in the 2020 second quarter.<\/p>\n

Trailing twelve-month return on average shareholders\u2019 equity was 41 percent and return on invested capital, representing net income divided by the sum of average equity plus average debt, was 36 percent. During the 2021 second quarter, Landstar purchased 150,000 shares of its common stock at an aggregate cost of approximately $23.8 million. The Company is currently authorized to purchase up to 1,671,030 additional 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 $0.25 per share payable on August 27, 2021, to stockholders of record as of the close of business on August 9, 2021. This quarterly dividend includes a $0.04 per share increase, or 19 percent, over the amount of the Company\u2019s regular quarterly dividend declared following each of the prior four quarters. The $0.04 per share increase is the largest increase in the Company\u2019s regularly scheduled quarterly dividend in the Company\u2019s history. It is currently the intention of the Board to pay dividends on a quarterly basis going forward.<\/p>\n

\u201cFollowing a record-breaking 2021 first quarter, Landstar\u2019s 2021 second quarter set a new standard as the best quarterly financial performance in our history. 2021 second quarter revenue, gross profit, net income and diluted earnings per share each set all-time quarterly records. 2021 second quarter operating margin, representing operating income divided by gross profit, was 55.4 percent, also an all-time quarterly record,\u201d said Landstar President and CEO Jim Gattoni. \u201cOur truckload volume in the second quarter exceeded the 2021 first quarter by over 12 percent, the second largest first quarter to second quarter increase in over 10 years. This outperformance was particularly impressive considering we were following an already record-setting first quarter. We attribute this strong demand to an ongoing, broad-based economic recovery, with particular strength in consumer spending, that has been a big driver of freight activity.\u201d<\/p>\n

Gattoni continued, \u201cRevenue from truck loads hauled via van equipment exceeded the 2020 second quarter by 101 percent and was also 60 percent above the corresponding period from 2019. Revenue from truck loads hauled via unsided\/platform equipment exceeded the 2020 second quarter by 80 percent and was 31 percent above the same period in 2019. Consumer demand for durable goods, building products, and e-commerce, which were strong in the first quarter of 2021, continued to drive record quarterly van revenue, while revenue generated via unsided\/platform equipment benefitted from growth in the U.S. metals and machinery sectors. For revenue generated via van equipment in the 2021 second quarter compared to the 2020 second quarter, the number of loads (volume) and revenue per load (rate) increased 43 percent and 40 percent, respectively, while the growth in volume and rate compared to the same period in 2019 was 19 percent and 35 percent, respectively. Revenue from truck loads hauled via unsided\/platform equipment continued to improve in comparison to the softer conditions that existed throughout most of 2020. The number of loads (volume) and revenue per load (rate) on loads hauled via unsided\/platform equipment in the 2021 second quarter exceeded the 2020 second quarter by 35 percent and 33 percent, respectively, and were higher than the corresponding period in 2019 by 10 percent and 19 percent, respectively.\u201d\u00a0\u00a0<\/p>\n

Gattoni further stated, \u201cIn our 2021 first quarter earnings release on April 21, 2021, we provided second quarter revenue guidance of $1.40 billion to $1.45 billion and second quarter diluted earnings per share guidance of $2.20 to $2.30. On May 28, 2021, we revised our initial guidance based on trends in volume and rates through the first seven weeks of the second quarter. Our updated 2021 second quarter guidance issued on May 28th<\/sup> reflected our expectation that revenue per load on loads hauled via truck would exceed the 2021 first quarter in a high single-digit percentage range and the number of loads hauled via truck in the 2021 second quarter would exceed the 2021 first quarter in a low double-digit percentage range. Actual revenue per load on loads hauled via truck in the 2021 second quarter compared to the 2021 first quarter increased 7.5 percent and the number of loads hauled via truck in the 2021 second quarter compared to the 2021 first quarter increased 12.5 percent, each in-line with our May 28th<\/sup> revised guidance and as summarized in the following chart:<\/p>\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n % growth vs. first quarter 2021<\/strong>\n <\/td>\n<\/tr>\n
\n
\n Second Quarter 2021<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n Original Guidance<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Revised Guidance<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Actual<\/strong>\n <\/td>\n<\/tr>\n
Truck revenue per load<\/td>\n\u00a0<\/td>\n4%-6%<\/td>\n\u00a0<\/td>\nHigh single digit<\/td>\n\u00a0<\/td>\n7.5%<\/td>\n<\/tr>\n
Number of truck loads<\/td>\n\u00a0<\/td>\n4%-6%<\/td>\n\u00a0<\/td>\nLow double digit<\/td>\n\u00a0<\/td>\n12.5%<\/td>\n<\/tr>\n<\/table>\n

Based on our expectations as to truck load volume and pricing, our May 28th<\/sup> updated guidance anticipated that revenue and diluted earnings per share would each be slightly above the high end of our previously issued 2021 second quarter guidance. Actual 2021 second quarter revenue was $1.571 billion and diluted earnings per share was $2.40, both generally in-line with our May 28th<\/sup> updated guidance.\u201d<\/p>\n

Gattoni continued, \u201cAs we\u2019ve discussed, our second quarter year-over-prior-year revenue and diluted earnings per share comparisons were not meaningful due to the adverse impact the COVID-19 pandemic had on the Company\u2019s 2020 second quarter financial results. As we look to the 2021 third quarter, comparisons to prior year should begin to normalize as the adverse impact of the COVID-19 pandemic on the Company\u2019s financial results significantly receded during the 2020 third quarter. While our year-over-year comparisons will be more challenging, our outlook for the 2021 third quarter is for continued solid performance on the expectation that broad-based economic strength will support a strong freight environment for the near future. In addition, we will likely continue to be in a capacity-constrained environment, which should continue to support elevated revenue per truck load in the third quarter.\u201d\u00a0\u00a0<\/p>\n

\u201cHistorically, revenue in the Company\u2019s third fiscal quarter has been relatively consistent with revenue generated in the Company\u2019s second fiscal quarter. \u00a0We also typically see our revenue per load on loads hauled via truck in the third quarter to be slightly higher than the second quarter, and the number of loads hauled via truck in the third quarter to be slightly below the second quarter. Through the first few weeks of July, revenue per load on loads hauled via truck and the number of loads hauled via truck are trending fairly consistent with historical second quarter to third quarter sequential patterns. I expect these trends to continue and as such, I anticipate revenue for the 2021 third quarter to be in a range of $1.55 billion to $1.60 billion.\u201d\u00a0<\/p>\n

\u201cBased on the range of revenue estimated and assuming insurance and claims costs of 4.6 percent of BCO revenue, I would anticipate diluted earnings per share to be in a range of $2.20 to $2.30 in the 2021 third quarter. As it relates to our third quarter estimate of insurance and claims costs, these costs were 3.8 percent of BCO revenue over the first half of 2021. Our third quarter estimate reflects an increased estimate of insurance and claims costs due to the potential reversion of claim costs to be more in line with historical trends over a longer period of time, increased premiums relating to auto liability coverage that we are paying to third party insurance companies and increased severity we have already experienced during the first several weeks of July as compared to the 2021 first half, mostly due to a small number of specific incidents.\u201d<\/p>\n

Gattoni concluded, \u201cLandstar\u2019s first half performance has been outstanding. The Company\u2019s agent family is executing on all cylinders and we continue to add qualified truck capacity to the network. Given the exceptional performance by Landstar through the first half, 2021 is well on its way to be a record setting year.\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 Second 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\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\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTwenty Six Weeks Ended<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/td>\n<\/tr>\n
\u00a0<\/td>\nJune 26,<\/td>\n\u00a0<\/td>\nJune 27,<\/td>\n\u00a0<\/td>\nJune 26,<\/td>\n\u00a0<\/td>\nJune 27,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/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\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n2,858,252<\/td>\n\u00a0<\/td>\n$<\/td>\n1,751,080<\/td>\n\u00a0<\/td>\n$<\/td>\n1,570,718<\/td>\n\u00a0<\/td>\n$<\/td>\n823,514<\/td>\n<\/tr>\n
Investment income<\/td>\n\u00a0<\/td>\n1,432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,002<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n748<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n835<\/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\u00a0<\/td>\n<\/tr>\n
Costs and expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0Purchased transportation<\/td>\n\u00a0<\/td>\n2,226,526<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,344,390<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,228,241<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n635,133<\/td>\n<\/tr>\n
\u00a0Commissions to agents<\/td>\n\u00a0<\/td>\n221,702<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150,642<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,693<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,266<\/td>\n<\/tr>\n
\u00a0Other operating costs, net of gains on asset sales\/dispositions<\/td>\n\u00a0<\/td>\n16,545<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,674<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,903<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,368<\/td>\n<\/tr>\n
\u00a0Insurance and claims<\/td>\n\u00a0<\/td>\n45,629<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,708<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,124<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,751<\/td>\n<\/tr>\n
\u00a0Selling, general and administrative<\/td>\n\u00a0<\/td>\n99,522<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,601<\/td>\n<\/tr>\n
\u00a0Depreciation and amortization<\/td>\n\u00a0<\/td>\n24,244<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,972<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,143<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,467<\/td>\n<\/tr>\n
\u00a0Impairment of intangible and other assets<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,582<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,582<\/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\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0Total costs and expenses<\/td>\n\u00a0<\/td>\n2,634,168<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,666,896<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,449,218<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n792,168<\/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\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n225,516<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n86,186<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,248<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,181<\/td>\n<\/tr>\n
Interest and debt expense<\/td>\n\u00a0<\/td>\n2,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n967<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n976<\/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\u00a0<\/td>\n<\/tr>\n
Income before income taxes<\/td>\n\u00a0<\/td>\n223,507<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84,258<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,281<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,205<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n53,973<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,109<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,987<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,951<\/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\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n169,534<\/td>\n\u00a0<\/td>\n$<\/td>\n65,149<\/td>\n\u00a0<\/td>\n$<\/td>\n92,294<\/td>\n\u00a0<\/td>\n$<\/td>\n24,254<\/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\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n$<\/td>\n4.41<\/td>\n\u00a0<\/td>\n$<\/td>\n1.68<\/td>\n\u00a0<\/td>\n$<\/td>\n2.40<\/td>\n\u00a0<\/td>\n$<\/td>\n0.63<\/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\u00a0<\/td>\n<\/tr>\n
Average diluted shares outstanding<\/td>\n\u00a0<\/td>\n38,403,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,816,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,402,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,379,000<\/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\u00a0<\/td>\n<\/tr>\n
Dividends per common share<\/td>\n$<\/td>\n0.420<\/td>\n\u00a0<\/td>\n$<\/td>\n0.370<\/td>\n\u00a0<\/td>\n$<\/td>\n0.210<\/td>\n\u00a0<\/td>\n$<\/td>\n0.185<\/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\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 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>\nJune 26,<\/td>\n\u00a0<\/td>\nDecember 26,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/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$<\/td>\n186,404<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n249,354<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nShort-term investments<\/td>\n\u00a0<\/td>\n52,560<\/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 $6,199 and $8,670<\/td>\n\u00a0<\/td>\n902,950<\/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 $6,843 and $7,239<\/td>\n\u00a0<\/td>\n49,819<\/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>\n41,533<\/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>\n1,233,266<\/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 \u00a0 \u00a0 \u00a0and amortization of $321,181 and $299,407<\/td>\n\u00a0<\/td>\n281,016<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n296,996<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n40,973<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,949<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n147,958<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n107,679<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n1,703,213<\/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>\n70,554<\/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>\n481,711<\/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>\n30,450<\/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>\n41,854<\/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>\n95,646<\/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>\n720,215<\/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>\n51,181<\/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>\n43,053<\/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>\n58,591<\/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, $0.01 par value, authorized 160,000,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nshares, issued 68,229,880 and 68,183,702<\/td>\n\u00a0<\/td>\n682<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n682<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAdditional paid-in capital<\/td>\n\u00a0<\/td>\n238,422<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n228,875<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRetained earnings<\/td>\n\u00a0<\/td>\n2,199,637<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,046,238<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCost of 29,954,081 and 29,797,639 shares of common<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nstock in treasury<\/td>\n\u00a0<\/td>\n(1,606,716<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,581,961<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n(1,852<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,999<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal shareholders’ equity<\/td>\n\u00a0<\/td>\n830,173<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n691,835<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and shareholders’ equity<\/td>\n$<\/td>\n1,703,213<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,653,799<\/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
\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\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>\nTwenty Six Weeks Ended<\/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>\n\u00a0<\/td>\nJune 26,<\/td>\n\u00a0<\/td>\nJune 27,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nJune 26,<\/td>\n\u00a0<\/td>\nJune 27,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Revenue generated through (in thousands):<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\n\u00a0<\/td>\n\u00a0<\/td>\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\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>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nVan equipment<\/td>\n\u00a0<\/td>\n$<\/td>\n1,798,061<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,028,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n970,874<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n483,027<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n784,883<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n533,716<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n444,251<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n247,388<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,732<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n45,859<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,062<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,918<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,637,676<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,607,909<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,444,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n753,333<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,068<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,360<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,186<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n107,840<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57,250<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,240<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,663<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther (1)<\/sup>\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,668<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,606<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,931<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,332<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,858,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,751,080<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,570,718<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n823,514<\/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\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>\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nincluded in total truck transportation<\/td>\n\u00a0<\/td>\n$<\/td>\n1,209,056<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n809,779<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n648,942<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n378,500<\/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\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\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\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\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>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nVan equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n777,921<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n600,519<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n409,048<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n285,174<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275,754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231,122<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,489<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n110,533<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,095<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78,079<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,403<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,723<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,138,770<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n909,720<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n602,940<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n435,430<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,800<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,510<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,100<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,970<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,460<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,430<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,360<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,185,030<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n945,660<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n628,270<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n452,760<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nLoads hauled\u00a0via BCO Independent Contractors (2)<\/sup>\u00a0 \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nincluded in total truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n510,150<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n443,830<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n264,200<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n210,430<\/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\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\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\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\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>\nTruckload:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nVan equipment<\/td>\n\u00a0<\/td>\n$<\/td>\n2,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,712<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,373<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,694<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,846<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,309<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,972<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,238<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n643<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n655<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n577<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,767<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,395<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,730<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,838<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,386<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,938<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,326<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,542<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,967<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,889<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,166<\/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\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\u00a0via BCO Independent Contractors (2)<\/sup>\u00a0 \u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,370<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,456<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,799<\/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\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\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\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\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>\nBCO Independent Contractors (2)\u00a0\u00a0<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41<\/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>\n\u00a0<\/td>\n50<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/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>\n\u00a0<\/td>\n4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/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\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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nJune 26,<\/td>\n\u00a0<\/td>\nJune 27,<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Truck Capacity Providers<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\n\u00a0<\/td>\n\u00a0<\/td>\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)\u00a0\u00a0<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,778<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,632<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTruck Brokerage Carriers:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\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>\nApproved and active (3)\u00a0<\/sup>\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,891<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,600<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0 \u00a0 \u00a0<\/td>\nOther approved<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,098<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,365<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n77,989<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,965<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal available truck capacity providers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,767<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63,597<\/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\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>\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,557<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,299<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (1)<\/sup> 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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (2)<\/sup> BCO Independent Contractors are independent contractors who provide truck capacity to the Company under exclusive lease arrangements.<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (3)<\/sup> Active refers to Truck Brokerage Carriers who moved at least one load in the 180 days immediately preceding the fiscal quarter end.<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

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

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Contacts:\r\nJim Gattoni (CEO)\r\nFred Pensotti (CFO)\r\nLandstar System, Inc.\r\nwww.landstar.com\r\n904-398-9400<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
JACKSONVILLE, Fla., July 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) reported all-time quarterly record net income of $92.3 million, or $2.40 per diluted share, in the 2021 second quarter, on record quarterly revenue of $1.571 billion. Landstar reported net income of $24.3 million, or $0.63 per diluted share, on $824 million of revenue in the 2020 second quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) also reached an all-time quarterly record of $220.8 million in the 2021 second quarter compared to $113.1 million in the 2020 second quarter. Given the significant adverse impact of the COVID-19 pandemic on the U.S. economy and the Company\u2019s financial results during the 2020 … <\/p>\n
Continue reading “Landstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.40 in the 2021 Second 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-515963","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLandstar System Reports All-Time Quarterly Record Diluted Earnings Per Share of $2.40 in the 2021 Second 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-2-40-in-the-2021-second-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 $2.40 in the 2021 Second Quarter - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"JACKSONVILLE, Fla., July 21, 2021 (GLOBE NEWSWIRE) — Landstar System, Inc. 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