Landstar System Inc ( (LSTR) ) has released its Q4 earnings. Here is a breakdown of the information Landstar System Inc presented to its investors.
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Landstar System, Inc., headquartered in Jacksonville, Florida, is a leading technology-enabled provider of integrated transportation management solutions, operating within the asset-light freight sector. The company utilizes a network of independent agents, third-party capacity providers, and employees to deliver specialized transportation services.
In its latest earnings report, Landstar System, Inc. announced a revenue of $1.209 billion for the fourth quarter of 2024, with earnings per share at $1.31. This marks the first instance of year-over-year quarterly revenue growth since the third quarter of 2022, driven by improved truck pricing and robust performance in its unsided/platform service offerings.
Key financial metrics highlighted in the report include a slight increase in overall revenue from $1.204 billion in the fourth quarter of 2023 to $1.209 billion in the same period of 2024. However, the company experienced a decline in gross profit, from $124 million in the previous year to $109 million in 2024, primarily due to increased insurance and claim costs. Despite the challenges, Landstar’s truck revenue per load saw a 3.1% increase, reflecting strategic pricing adjustments.
Landstar continues its commitment to returning capital to shareholders, having repurchased approximately 452,000 shares of its common stock at a cost of $82.1 million and paid $120.5 million in dividends during the 2024 fiscal year. The company remains authorized to purchase additional shares under its existing stock repurchase program.
Looking forward, Landstar’s management remains optimistic about an improved freight transportation environment in 2025. The company aims to build on its revenue momentum while focusing on enhancing safety performance and customer service delivery.
