Welcome to our dedicated page for Landstar System news (Ticker: LSTR), a resource for investors and traders seeking the latest updates and insights on Landstar System stock.
Landstar System Inc. (LSTR) is a leading asset-light third-party logistics provider, specializing in safe, secure, and reliable transportation services. The company operates through a unique network of small business owners, independent agents, and capacity providers, all united under the Landstar umbrella. With over 1,100 agents, more than 9,000 leased owner-operators, 14,000 trailers, and 44,000 other approved capacity providers, Landstar offers a comprehensive solution to any transportation challenge.
Landstar's core business is domestic truck brokerage, accounting for 90% of its revenue. The company facilitates truck transportation freight, with half of the loads hauled by leased owner-operators and the other half by third-party broker-carriers. Additionally, Landstar provides intermodal, global air and ocean forwarding, and warehousing services. The company also operates a small business offering insurance programs to captive owner-operators.
One of Landstar's key strengths is its agent-based business model. This model allows for personalized local service, backed by the resources of a multi-billion dollar company. This structure enables flexibility and responsiveness to customer needs while maintaining industry-leading execution and profitability.
Recent achievements and ongoing projects demonstrate Landstar's commitment to innovation and continuous improvement. The company invests in internally developed software and other support systems to enhance the efficiency and effectiveness of its operations. Landstar also maintains a robust insurance segment, providing comprehensive coverage options for its network of independent contractors.
As a highly stable and successful organization, Landstar continues to attract new partnerships and expand its service offerings. The company's strategic initiatives and strong financial condition ensure its ability to meet the evolving needs of its customers and maintain a competitive edge in the logistics industry.
For more information on Landstar's services or corporate opportunities, visit http://www.landstar.com or call 877-696-4507. Potential agents and owner-operators can find pre-qualification details on the website as well.
Landstar System (NASDAQ:LSTR) has declared a special one-time cash dividend of $2.00 per share, payable on January 21, 2025, to stockholders of record as of January 7, 2025. The company demonstrated strong shareholder returns in 2024, purchasing 452,019 shares for approximately $82.1 million and distributing $120.5 million in cash dividends. As of September 28, 2024, Landstar reported $531 million in cash and short-term investments. The company plans to continue opportunistic stock purchases under its stock purchase program.
Landstar System announces key leadership changes effective December 1, 2024. Joe Beacom has been appointed President of Landstar System Holdings and its agent-based transportation services companies, planning to serve until end of 2025 before transitioning to Special Advisor to CEO and retiring in Q1 2026. Matt Miller has been promoted to Vice President and Chief Safety and Operations Officer, taking over Beacom's previous role. Miller, with 15 years at Landstar, will oversee operational matters relating to the company's capacity network of truck owner-operators and third-party truck brokerage carriers.
Landstar System (NASDAQ: LSTR) reported third quarter 2024 revenue of $1.214 billion and earnings per share of $1.41, down from $1.71 in Q3 2023. The company faced challenging freight conditions, though achieved a 3.2% sequential increase in truck revenue per load compared to Q2 2024. Truck transportation revenue was $1.091 billion, representing 90% of total revenue. The company maintained strong financials with cash and short-term investments of $531 million, delivering a 21% return on equity. During Q3, Landstar purchased 121,000 shares for $22.4 million and declared a quarterly dividend of $0.36 per share.
Landstar System, Inc. (NASDAQ:LSTR) has announced that it will release its 2024 third quarter results after the market closes on Tuesday, October 29, 2024. The company will hold its quarterly conference call with analysts and investors at 4:30 p.m. ET on the same day to discuss the results and current outlook.
Interested parties can access the webcast by visiting investor.landstar.com, clicking on 'Webcasts', and then 'Landstar's Third Quarter 2024 Earnings Release Conference Call'. For those unable to participate in the live call or without Internet access, a telephone replay will be available for 48 hours. The replay numbers are (800) 819-5743 for the U.S. and Canada, and (203) 369-3828 for international calls.
Landstar System (NASDAQ: LSTR) reported Q2 2024 earnings with revenue of $1.225 billion and EPS of $1.48. The company saw a 5% sequential revenue growth, breaking a streak of seven quarters of declines. Landstar's board declared a quarterly dividend of $0.36 per share, a 9% increase from previous quarters. The company continued its stock repurchase program, buying back 316,000 shares for $57.0 million. Truck transportation accounted for 90% of revenue at $1.106 billion. Despite challenging market conditions, Landstar maintained a strong balance sheet with $504 million in cash and short-term investments. The company's trailing twelve-month return on average shareholders' equity was 22%, and return on invested capital was 20%.
Landstar System, Inc. (NASDAQ:LSTR), a transportation and logistics services provider, has announced the release date for its 2024 second quarter results. The company will disclose its financial performance after the market closes on Tuesday, July 30, 2024. Following the release, Landstar will host a quarterly conference call with analysts and investors at 5:00 p.m. ET to discuss the results and provide insights into the current outlook.
Interested parties can access the webcast through the investor relations section of Landstar's website. For those unable to participate in the live call or without internet access, a telephone replay will be available for 48 hours. The replay numbers are (800) 819-5743 for U.S. and Canada, and (203) 369-3828 for international calls.
Landstar System, Inc. (NASDAQ:LSTR) will participate in the Bank of America 2024 Annual Investment Conference with a 'fireside chat' discussion at 10:20 a.m. ET on Tuesday, May 14. The webcast will be accessible on Landstar's website until May 22.
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