{"id":751699,"date":"2023-04-26T18:03:41","date_gmt":"2023-04-26T22:03:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/"},"modified":"2023-04-26T18:03:41","modified_gmt":"2023-04-26T22:03:41","slug":"landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/","title":{"rendered":"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17"},"content":{"rendered":"
\n

JACKSONVILLE, Fla., April 26, 2023 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) (\u201cLandstar\u201d or the \u201cCompany\u201d) reported diluted earnings per share (\u201cDEPS\u201d) of $2.17 in the 2023 first quarter on revenue of $1.436 billion. Landstar reported DEPS of $3.34 on revenue of $1.971 billion in the 2022 first quarter.<\/p>\n

Gross profit in the 2023 first quarter was $152.9 million and variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2023 first quarter was $208.7 million. Gross profit in the 2022 first quarter was $214.6 million and variable contribution in the 2022 first quarter was $270.5 million. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin for the 2023 and 2022 first quarters are provided in the Company\u2019s accompanying financial disclosures.<\/p>\n

Trailing twelve month return on average shareholders\u2019 equity was 44 percent and return on invested capital, representing net income divided by the sum of average equity plus average debt, was 38 percent. During the 2023 first quarter, Landstar purchased approximately 90,000 shares of its common stock at an aggregate cost of $15.4 million. The Company is currently authorized to purchase up to 2,910,339 shares of the Company\u2019s common stock under its previously announced share purchase programs. Landstar announced today that its Board of Directors has declared a quarterly dividend of $0.30 per share payable on May 26, 2023, to stockholders of record as of the close of business on May 4, 2023. It is currently the intention of the Board to pay dividends on a quarterly basis going forward.\u00a0\u00a0<\/p>\n

Truck transportation revenue hauled by independent business capacity owners (\u201cBCOs\u201d) and truck brokerage carriers in the 2023 first quarter was $1,323.7 million, or 92 percent of revenue, compared to $1,751.3 million, or 89 percent of revenue, in the 2022 first quarter. Truckload transportation revenue hauled via van equipment in the 2023 first quarter was $755.1 million, compared to $1,081.2 million in the 2022 first quarter. Truckload transportation revenue hauled via unsided\/platform equipment in the 2023 first quarter was $377.6 million, compared to $408.8 million in the 2022 first quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2023 first quarter was\u00a0$159.5 million, compared to\u00a0$227.6 million\u00a0in the 2022 first quarter. Revenue hauled by rail, air and ocean cargo carriers was $86.8 million, or 6 percent of revenue, in the 2023 first quarter, compared to $194.7 million, or 10 percent of revenue, in the 2022 first quarter.<\/p>\n

\u201cGiven a challenging freight environment to begin our 2023 fiscal year, I am pleased with Landstar\u2019s first quarter financial performance,\u201d said Landstar President and Chief Executive Officer Jim Gattoni. \u201cAs we expected, our record 2022 first quarter also made for difficult comparisons during our 2023 first quarter. As compared to the 2022 first quarter, revenue generated via unsided\/platform equipment held up considerably better than revenue generated via van equipment and other truck transportation services, which tend to be more correlated to U.S. consumer demand. Our truck services, which primarily operate in the U.S. spot market, experienced pricing pressure throughout the 2023 first quarter as industry-wide truck capacity was significantly more readily available as compared to the 2022 first quarter, during which pandemic-related supply chain disruption was at a high point. As a result, revenue per load on loads hauled via truck decreased 14% in the 2023 first quarter compared to the 2022 first quarter. However, it should be noted that revenue per load on loads hauled via truck only decreased 3.5% in the 2023 first quarter compared to the 2022 fourth quarter. This performance was reasonably in-line with sequential historical patterns experienced during pre-pandemic periods (with 2018 being an exception due to the impact of the December 2017 federal mandate requiring use of electronic logging devices). Truck load volumes also decreased quarter-over-prior-year-quarter, with the number of loads hauled via truck in the 2023 first quarter below the 2022 first quarter by 12%.\u201d<\/p>\n

Gattoni further commented, \u201cThrough the first several weeks of April, truck revenue per load has thus far sequentially trended slightly below first quarter to the beginning of second quarter pre-pandemic, historical patterns, while the number of loads hauled via truck through the first several weeks of the 2023 second quarter has sequentially trended a bit further below these historical patterns. After several years where past trends were less applicable in light of the impact of the pandemic, I anticipate that as we move into May, we will begin to experience truck revenue per load and truck load volume sequential trends closer to pre-pandemic, historical patterns. Assuming that truck revenue per load and truck load volume sequential trends are in fact closer to pre-pandemic, historical patterns, I expect revenue per load on loads hauled via truck to be in a range of 12% to 14% below the 2022 second quarter and the number of loads hauled via truck to be in a range of 14% to 16% below the 2022 second quarter. As such, I anticipate revenue for the 2023 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 2023 second quarter, I would anticipate DEPS to be in a range of $1.90 to $2.00. During the 2023 first quarter, DEPS was favorably impacted by a lower effective income tax rate and increased net interest income, partially offset by insurance and claims expense at 5.3% of BCO revenue. The anticipated range of DEPS for the 2023 second quarter includes insurance and claims expense estimated to be similar to the insurance and claims expense reported in the 2023 first quarter and an effective income tax rate of 24.4%.\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 2023 Earnings Release Conference Call.\u201d<\/p>\n

\n
\n About Landstar:<\/em>
\n <\/strong>
\n
Landstar System, Inc., a Fortune 500 company, is a worldwide, technology-enabled, 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 Non-GAAP Financial Measures<\/em>
\n <\/strong>
\n :<\/em>
\n
In this earnings release and accompanying financial disclosures, the Company provides the following information that may be deemed a non-GAAP financial measure: variable contribution and variable contribution margin. The Company believes variable contribution and variable contribution margin are useful measures of the variable costs that we incur at a shipment-by-shipment level attributable to our transportation network of third-party capacity providers and independent agents in order to provide services to our customers. The Company also believes that it is appropriate to present each of the financial measures that may be deemed a non-GAAP financial measure, as referred to above, for the following reasons: (1) disclosure of these matters will allow investors to better understand the underlying trends in the Company\u2019s financial condition and results of operations; (2) this information will facilitate comparisons by investors of the Company\u2019s results as compared to the results of peer companies; and (3) management considers this financial information in its decision making.<\/p>\n

\n
\n Forward Looking Statements Disclaimer:<\/em>
\n <\/strong>
\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 Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company\u2019s largest such agent by revenue in the 2022 fiscal year; 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; U.S. trade relationships; substantial industry competition; disruptions or failures in the Company\u2019s computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; intellectual property; and other operational, financial or legal risks or uncertainties detailed in Landstar\u2019s Form 10-K for the 2022 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 \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
\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 Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Consolidated Statements of Income<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Dollars in thousands, except per share amounts)<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited)<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 1,<\/td>\n\u00a0<\/td>\nMarch 26,<\/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>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/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<\/tr>\n
Revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,435,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,970,599<\/td>\n\u00a0<\/td>\n<\/tr>\n
Investment income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n721<\/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<\/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<\/tr>\n
\u00a0<\/td>\nPurchased transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,101,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,550,330<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCommissions to agents<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,778<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther operating costs, net of gains on asset sales\/dispositions<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,378<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,141<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInsurance and claims<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,647<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,768<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSelling, general and administrative<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,567<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,713<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nDepreciation and amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,198<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,757<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal costs and expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,335,759<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,808,487<\/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<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101,284<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n162,833<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest and debt (income) expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(726<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,123<\/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<\/tr>\n
Income before income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102,010<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n161,710<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,815<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,871<\/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<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n78,195<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n124,839<\/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<\/tr>\n
Diluted earnings per share<\/td>\n\u00a0<\/td>\n$<\/td>\n2.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3.34<\/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<\/tr>\n
Average diluted shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,982,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,418,000<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dividends per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.25<\/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<\/tr>\n<\/table>\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\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\u00a0<\/td>\n<\/tr>\n
\n Consolidated Balance Sheets<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Dollars in thousands, except per share amounts)<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited)<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 1,<\/td>\n\u00a0<\/td>\nDecember 31,<\/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>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ASSETS<\/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
Current assets:<\/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>\nCash and cash equivalents<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n340,987<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n339,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nShort-term investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,168<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,955<\/td>\n\u00a0<\/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\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nof $12,577 and $12,121<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n899,811<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n967,793<\/td>\n\u00a0<\/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\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\ncontractors, less allowance of $11,758 and $10,579<\/td>\n\u00a0<\/td>\n53,242<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,826<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,353,892<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,439,390<\/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<\/tr>\n
Operating property, less accumulated depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nand amortization of $406,648 and $393,274<\/td>\n\u00a0<\/td>\n306,224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n314,990<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,726<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,220<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136,018<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136,279<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,837,860<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,931,879<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCash overdraft<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n66,195<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n92,953<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccounts payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n490,304<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n527,372<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCurrent maturities of long-term debt<\/td>\n\u00a0<\/td>\n33,801<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInsurance claims<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50,064<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50,836<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nDividends payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n71,854<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100,980<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n98,945<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n741,344<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n878,135<\/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<\/tr>\n
Long-term debt, excluding current maturities<\/td>\n\u00a0<\/td>\n60,191<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67,225<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Insurance claims<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57,974<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes and other non-current liabilities<\/td>\n\u00a0<\/td>\n42,699<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,030<\/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<\/tr>\n
Shareholders’ equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCommon stock, $0.01 par value, authorized 160,000,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nshares, issued 68,483,963 and 68,382,310<\/td>\n\u00a0<\/td>\n685<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAdditional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253,138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n258,487<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRetained earnings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,703,349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,635,960<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCost of 32,550,852 and 32,455,300 shares of common<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nstock in treasury<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,009,327<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,992,886<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n(12,193<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(15,024<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal shareholders’ equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n935,652<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n887,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and shareholders’ equity<\/td>\n$<\/td>\n1,837,860<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,931,879<\/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<\/tr>\n<\/table>\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\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Supplemental Information<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n(Unaudited)<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/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>\nApril 1,<\/td>\n\u00a0<\/td>\nMarch 26,<\/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>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/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<\/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<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n\u00a0<\/td>\n$<\/td>\n755,083<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,081,206<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n377,564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n408,757<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,558<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,720<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther truck transportation (1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n159,503<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n227,601<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,323,708<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,751,284<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,657<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,688<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61,093<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n152,057<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther (2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,217<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,570<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,435,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,970,599<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue on loads hauled via BCO Independent Contractors (3)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nincluded in total truck transportation<\/td>\n\u00a0<\/td>\n$<\/td>\n519,526<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n727,574<\/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<\/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<\/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<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n331,954<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n376,268<\/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>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n127,572<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n131,829<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46,192<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,843<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther truck transportation (1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58,062<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,930<\/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>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n563,780<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n641,870<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,760<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,440<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,560<\/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>\n579,980<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n666,060<\/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<\/tr>\n
\u00a0<\/td>\nLoads hauled via BCO Independent Contractors (3)<\/sup><\/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>\n232,550<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n262,240<\/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<\/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<\/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<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nVan equipment<\/td>\n\u00a0<\/td>\n$<\/td>\n2,275<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,873<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nUnsided\/platform equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,960<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nLess-than-truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n683<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n705<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther truck transportation (1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,649<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal truck transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,348<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,728<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,306<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,380<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOcean and air cargo carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,239<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRevenue per load on loads hauled via BCO Independent Contractors (3)<\/sup><\/td>\n\u00a0<\/td>\n$<\/td>\n2,234<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,774<\/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<\/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<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nBCO Independent Contractors (3)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTruck Brokerage Carriers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRail intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/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>\n8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n%<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 1,<\/td>\n\u00a0<\/td>\nMarch 26,<\/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>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/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<\/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<\/tr>\n
\u00a0<\/td>\nBCO Independent Contractors (3)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,996<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/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<\/tr>\n
\u00a0<\/td>\nApproved and active (4)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61,771<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n68,859<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0Other approved<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,893<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,094<\/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>\n92,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96,953<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal available truck capacity providers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102,660<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108,042<\/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<\/tr>\n
\u00a0<\/td>\nTrucks provided by BCO Independent Contractors (3)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,809<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,935<\/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<\/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<\/tr>\n
(1) Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment. Power-only refers to shipments\u00a0where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper or consignee.<\/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<\/tr>\n
(2) Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by\u00a0Landstar Metro.<\/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<\/tr>\n
(3) 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\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<\/tr>\n
(4) 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\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<\/tr>\n<\/table>\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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Landstar System, Inc. and Subsidiary<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Reconciliation of Gross Profit to Variable Contribution<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
(Dollars in thousands)<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Unaudited)<\/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<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThirteen Weeks Ended<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 1,<\/td>\n\u00a0<\/td>\nMarch 26,<\/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>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/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<\/tr>\n
Revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,435,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,970,599<\/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<\/tr>\n
Costs of revenue:<\/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>\nPurchased transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,101,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,550,330<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nCommissions to agents<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 125,675<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 149,778<\/u>\n <\/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<\/tr>\n
\u00a0<\/td>\nVariable costs of revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,226,969<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,700,108<\/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<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTrailing equipment depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,369<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,083<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nInformation technology costs (1)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,751<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,046<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nInsurance-related costs (2)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,260<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,655<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther operating costs<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,378<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,141<\/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<\/tr>\n
\u00a0<\/td>\nOther costs of revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,758<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,925<\/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<\/tr>\n
\u00a0<\/td>\nTotal costs of revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,282,727<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,756,033<\/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<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n152,948<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n214,566<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.9<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nPlus: other costs of revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,758<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,925<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Variable contribution<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n208,706<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n270,491<\/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<\/tr>\n
Variable contribution margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.7<\/td>\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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(1) Includes costs of revenue incurred related to internally developed software including ASC 350-40 amortization, implementation costs, hosting costs and other support costs utilized to support the Company\u2019s independent commission sales agents, third party\u00a0capacity providers, and customers, included as a portion of depreciation and amortization and of selling, general and administrative in the Company’s Consolidated Statements of Income.<\/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<\/tr>\n
(2) Primarily includes (i) insurance premiums paid for commercial auto liability, general liability, cargo and other lines of coverage related to the transportation of freight; (ii) the related cost of claims incurred under those programs; and (iii) broke\u00a0 brokerage commissions and other fees incurred relating to the administration of insurance programs available to BCO Independent Contractors that are reinsured by the Company, which are included in selling, general and administrative in the Company\u2019s Consolidated Statements of Income.<\/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<\/tr>\n<\/table>\n

\n \n <\/p>\n


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

\n
Contact: \r\nJim Todd (CFO)\r\nLandstar System, Inc.\r\nwww.landstar.com\r\n904-398-9400<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
JACKSONVILLE, Fla., April 26, 2023 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) (\u201cLandstar\u201d or the \u201cCompany\u201d) reported diluted earnings per share (\u201cDEPS\u201d) of $2.17 in the 2023 first quarter on revenue of $1.436 billion. Landstar reported DEPS of $3.34 on revenue of $1.971 billion in the 2022 first quarter. Gross profit in the 2023 first quarter was $152.9 million and variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2023 first quarter was $208.7 million. Gross profit in the 2022 first quarter was $214.6 million and variable contribution in the 2022 first quarter was $270.5 million. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin … <\/p>\n
Continue reading “Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17”<\/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-751699","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLandstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17 - 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-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"JACKSONVILLE, Fla., April 26, 2023 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) (\u201cLandstar\u201d or the \u201cCompany\u201d) reported diluted earnings per share (\u201cDEPS\u201d) of $2.17 in the 2023 first quarter on revenue of $1.436 billion. Landstar reported DEPS of $3.34 on revenue of $1.971 billion in the 2022 first quarter. Gross profit in the 2023 first quarter was $152.9 million and variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2023 first quarter was $208.7 million. Gross profit in the 2022 first quarter was $214.6 million and variable contribution in the 2022 first quarter was $270.5 million. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/","og_locale":"en_US","og_type":"article","og_title":"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17 - Market Newsdesk","og_description":"JACKSONVILLE, Fla., April 26, 2023 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) (\u201cLandstar\u201d or the \u201cCompany\u201d) reported diluted earnings per share (\u201cDEPS\u201d) of $2.17 in the 2023 first quarter on revenue of $1.436 billion. Landstar reported DEPS of $3.34 on revenue of $1.971 billion in the 2022 first quarter. Gross profit in the 2023 first quarter was $152.9 million and variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2023 first quarter was $208.7 million. Gross profit in the 2022 first quarter was $214.6 million and variable contribution in the 2022 first quarter was $270.5 million. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin … Continue reading \"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-26T22:03:41+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNjQzNyM1NTU5MTM4IzIwMDU4NjE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17","datePublished":"2023-04-26T22:03:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/"},"wordCount":2186,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNjQzNyM1NTU5MTM4IzIwMDU4NjE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/landstar-system-reports-first-quarter-revenue-of-1-436b-and-first-quarter-diluted-earnings-per-share-of-2-17\/","name":"Landstar System Reports First Quarter Revenue Of $1.436B And First Quarter Diluted Earnings Per Share Of $2.17 - 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