Landstar System Inc (LSTR) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 29, 2019

Home SEC Filings Landstar System Inc (LSTR) 10-Q Quarterly Report Fri Aug 02 2019

Exhibit 99.1

 

LOGO

 

For Immediate Release

    Contact: Kevin Stout
   Landstar System, Inc.
   www.landstar.com

July 24, 2019

    904-398-9400

LANDSTAR SYSTEM REPORTS SECOND QUARTER

REVENUE OF $1.045 BILLION AND RECORD SECOND QUARTER DILUTED EARNINGS PER SHARE OF $1.53

Jacksonville, FL – Landstar System, Inc. (NASDAQ: LSTR) reported record second quarter diluted earnings per share of $1.53 in the 2019 second quarter on revenue of $1.045 billion. Landstar reported diluted earnings per share of $1.51 on revenue of $1.183 billion in the 2018 second quarter. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was $158.0 million in the 2019 second quarter compared to $171.4 million in the 2018 second quarter. Operating margin, representing operating income divided by gross profit, was 51.2 percent in the 2019 second quarter.

Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2019 second quarter was $968.2 million, or 93 percent of revenue, compared to $1.105 billion, or 93 percent of revenue, in the 2018 second quarter. Truckload transportation revenue hauled via van equipment in the 2019 second quarter was $605.4 million compared to $713.3 million in the 2018 second quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2019 second quarter was $338.1 million compared to $364.7 million in the 2018 second quarter. Revenue hauled by rail, air and ocean cargo carriers was $56.8 million, or 5 percent of revenue, in the 2019 second quarter compared to $60.3 million, or 5 percent of revenue, in the 2018 second quarter.

The following information was filed by Landstar System Inc (LSTR) on Wednesday, July 24, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: LSTR
CIK: 853816
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-19-211641
Submitted to the SEC: Fri Aug 02 2019 5:59:20 AM EST
Accepted by the SEC: Fri Aug 02 2019
Period: Saturday, June 29, 2019
Industry: Trucking No Local

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