Landstar System Inc - LSTR STOCK NEWS

Landstar System reported record quarterly results for Q4 2020, with revenues of $1.296 billion and diluted earnings per share of $1.70. Excluding a one-time cost of $15.5 million, operating income would have also reached all-time highs. Truck transportation revenue grew significantly, with van and platform equipment revenues increasing 44% and 12% year-over-year, respectively. The company ended 2020 with $291 million in cash and declared a special dividend of $2.00 per share. Future guidance predicts Q1 2021 revenue between $1.10 billion and $1.15 billion.

Landstar System, Inc. (NASDAQ:LSTR) has announced it will release its fourth quarter 2020 financial results on January 27, 2021, after market close. A conference call with analysts and investors is scheduled for January 28, 2021, at 8:00 a.m. ET to discuss the quarterly results and future outlook. Participants can access the call through the company’s investor website. A replay will be available for 48 hours for those unable to join live. Landstar is an asset-light provider of integrated transportation management solutions, certified to ISO 9001:2015 standards.

Landstar System, Inc. (NASDAQ-LSTR) announced a special one-time cash dividend of $2.00 per share on December 8, 2020, payable on January 22, 2021, to shareholders of record as of January 8, 2021. As of September 26, 2020, the company held $258 million in cash and short-term investments, alongside $216 million available for borrowings. Landstar's President highlighted the strong balance sheet and free cash flow generation which enables continued shareholder returns, amounting to $2.3 billion in dividends and stock purchases since 1997.

Landstar System, Inc. (NASDAQ:LSTR) announced its participation in the Stephens Annual Investment Conference 2020. The presentation will take place on November 18 at 10:00 a.m. EST, led by President and CEO Jim Gattoni. Attendees can access the live broadcast via Landstar's investor website. Additionally, the presentation will remain available online until November 25. Landstar is an asset-light provider of transportation management solutions, prioritizing safety and specialization in its services.

Landstar System reported revenue of $1.086 billion for Q3 2020, up 7% year-over-year from $1.012 billion in Q3 2019. Diluted earnings per share (EPS) rose by 19% to $1.61, marking the second-highest EPS for a third quarter in company history. Gross profit increased to $160.9 million, a 5% rise. Truck transportation revenue was 93% of total revenue, achieving notable growth in truckload transportation up 3%. However, the company anticipates a one-time charge of $15 million in Q4 due to reorganization efforts, affecting EPS by approximately $0.29.

Landstar System, Inc. (NASDAQ:LSTR) is set to release its third quarter results for 2020 on October 21, after market close. Analysts and investors can join a conference call the next day, October 22, at 8:00 a.m. ET for a discussion on the results and future outlook. A replay will be offered for those unable to attend live. Landstar, headquartered in Jacksonville, Florida, operates as an asset-light provider of integrated transportation management solutions, ensuring safety and compliance with ISO quality standards.

Landstar System, Inc. (NASDAQ: LSTR), a provider of integrated transportation management solutions, announced its participation in the Cowen 2020 Global Transportation & Sustainable Mobility Conference. President and CEO Jim Gattoni will present a company overview and current business activity updates. The presentation is scheduled for 10:20 a.m. EDT on September 10 and will be available live online at www.investor.landstar.com. The recorded presentation will remain accessible until September 17. For further information, contact Landstar’s Investor Relations department.

Landstar System, Inc. (NASDAQ: LSTR) reported 2020 Q2 diluted earnings per share of $0.63 on revenue of $824 million, a significant decline from $1.53 per share and $1.045 billion in Q2 2019. The results included $12.6 million in pandemic relief payments ($0.25 per diluted share) and a $2.6 million asset impairment charge. Gross profit fell 28% year-over-year to $113.1 million. Truck transportation revenue dropped 22% year-over-year, while the company anticipates Q3 revenue between $885 million and $935 million with EPS between $1.11 and $1.17, reflecting ongoing market challenges.

Landstar System, Inc. (NASDAQ:LSTR) announced that it will release its 2020 second quarter results on July 22, 2020, after market close. A quarterly conference call will follow the next day, July 23, 2020, at 8:00 a.m. ET, where analysts and investors can discuss the results and outlook. The call can be accessed via a webcast on the investor website, and a telephone replay will be available for those unable to join live. Landstar, headquartered in Jacksonville, Florida, specializes in transportation management solutions while adhering to strict quality and environmental standards.