Slide 1: Landstar Reports All-Time Quarterly Record Earnings (Press Release)
For Immediate Release Contacts: Jim Gattoni (CEO) Fred Pensotti (CFO) Landstar System, Inc. www.landstar.com July 21, 2021 904-398-9400 LANDSTAR SYSTEM REPORTS ALL-TIME QUARTERLY RECORD DILUTED EARNINGS PER SHARE OF $2.40 IN THE 2021 SECOND QUARTER Jacksonville, FL - Landstar System, Inc. (NASDAQ: L
Slide 2: Press release: returns, buybacks and dividend increase
LANDSTAR SYSTEM/2 quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2021 second quarter was $444.3 million compared to $247.4 million in the 2020 second quarter. Revenue hauled by rail, air and ocean cargo carriers was $104.6 million, or 7 percent of revenue, in
Slide 3: CEO commentary on van and platform revenue
LANDSTAR SYSTEM/3 Gattoni continued, “Revenue from truck loads hauled via van equipment exceeded the 2020 second quarter by 101 percent and was also 60 percent above the corresponding period from 2019. Revenue from truck loads hauled via unsided/platform equipment exceeded the 2020 second quarter by
Slide 4: Guidance versus actual truck loads and revenue per load
LANDSTAR SYSTEM/4 % growth vs. first quarter 2021 Original Revised Second Quarter 2021 Guidance Guidance Actual Truck revenue per load 4% -6% High single digit 7.5% Number of truck loads 4% -6% Low double digit 12.5% Based on our expectations as to truck load volume and pricing, our May 28th updated
Slide 5: Third quarter 2021 earnings outlook
LANDSTAR SYSTEM/5 “Based on the range of revenue estimated and assuming insurance and claims costs of 4.6 percent of BCO revenue, I would anticipate diluted earnings per share to be in a range of $2.20 to $2.30 in the 2021 third quarter. As it relates to our third quarter estimate of insurance and c
Slide 6: Forward-looking statements and risk factors
LANDSTAR SYSTEM/6 demand for transportation services; substantial industry competition; disruptions or failures in the Company’s computer systems; cyber and other information security incidents; dependence on key vendors; changes in fuel taxes; status of independent contractors; regulatory and legis
Slide 7: Consolidated Statements of Income
LANDSTAR SYSTEM/7 Landstar System, Inc. and Subsidiary Consolidated Statements of Income (Dollars in thousands, except per share amounts) (Unaudited) Twenty Six Weeks Ended Thirteen Weeks Ended June 26, June 27, June 26, June 27, 2021 2020 2021 2020 Revenue $ 2,858,252 $ 1,751,080 $ 1,570,718 $ 823,
Slide 8: Consolidated Balance Sheets
LANDSTAR SYSTEM/8 Landstar System, Inc. and Subsidiary Consolidated Balance Sheets (Dollars in thousands, except per share amounts) (Unaudited) June 26, December 26, 2021 2020 ASSETS Current assets: Cash and cash equivalents $ 186,404 $ 249,354 Short-term investments 52,560 41,375 Trade accounts rec
Slide 9: Supplemental Information
LANDSTAR SYSTEM/9 Landstar System, Inc. and Subsidiary Supplemental Information (Unaudited) Twenty Six Weeks Ended Thirteen Weeks Ended June 26, June 27, June 26, June 27, 2021 2020 2021 2020 Revenue generated through (in thousands): Truck transportation Truckload: Van equipment $ 1,798,061 $ 1,028,
Slide 10: Landstar System, Inc. Earnings Conference Call Second Quarter 2021
DESIGNED TO RESPOND BUILT TO DELIVER Landstar System, Inc. Earnings Conference Call Second Quarter 2021 July 21, 2021 Date Published: 07/21/2021
Slide 11: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer: The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements made in this slide presentation that are not based on historical facts are “forward looking statements.” This presentation may make certain stateme
Slide 12: Who We Are
Who We Are Landstar 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. 3 Date Publi
Slide 13: Our Network
Our Network 2020 Results Agents $4.1 billion in revenue Approx. 2.0 million loadings 1,200 508 million dollar agents 10,991 BCO trucks (2020 year-end) 69,025 Carriers (2020 year-end) 17,000+ Trailers (2020 year-end) Landstar Employees Approx. 1,300 Capacity Customers 79,000+ 25,000+ 4 Date Published
Slide 14: Transportation Management Services
Transportation Management Services Percentage of Revenue 2Q20 2Q21 Truck Transportation Truckload Van equipment 59% 62% Unsided/platform equipment 30% 28% Less-than-truckload 3% 2% Rail intermodal 3% 3% Ocean and air cargo 4% 4% 5 Date Published: 07/21/2021
Slide 15: Revenue
Revenue ($’s in thousands) Year-to-Date Quarter $3,000,000 $2,858,252 $2,850,000 $1,800,000 $2,700,000 $1,570,718 $2,550,000 $1,625,000 $2,400,000 $1,450,000 $2,250,000 $2,100,000 $1,275,000 $1,950,000 $1,100,000 $1,751,080 $1,800,000 $823,514 $1,650,000 $925,000 $1,500,000 $750,000 2Q20 YTD 2Q21 YT
Slide 16: Truckload Loadings and Revenue per Load Trends
Truckload Loadings and Revenue per Load Trends (Excludes LTL) Van Equipment Number of Loads Revenue per Load 420,000 $2,600 400,000 $2,400 380,000 360,000 $2,200 340,000 $2,000 320,000 $1,800 300,000 280,000 $1,600 2Q20 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 3Q20 4Q20 1Q21 2Q21 2Q18 3Q18 4Q18 1Q19
Slide 17: Industries Served
Industries Served As a Percentage of Revenue Quarter over Prior Year Quarter 2Q20 2Q21 Change in Revenue Consumer Durables 24.3 29.5 133% Machinery 13.0 11.2 65% Building Products 9.7 8.7 73% AA&E, Hazmat 9.6 9.2 83% Automotive 4.3 6.7 198% Foodstuffs 5.8 3.7 20% Metals 5.3 5.2 87% Substitute Line H
Slide 18: Gross Profit and Gross Profit Margin
Gross Profit (1) and Gross Profit Margin (2) ($’s in thousands) Year-to-Date (4) Quarter (4) $440,000 $410,024 $220,784 $225,000 $410,000 $380,000 $200,000 $350,000 $175,000 $320,000 $150,000 $290,000 $256,048 $113,115 $260,000 $125,000 14.6% 14.3% 14.1% $230,000 13.7% $100,000 2Q20 YTD 2Q21 YTD 2Q2
Slide 19: Operating Income and Operating Margin
Operating Income and Operating Margin (1) ($’s in thousands) Year-to-Date (2) Quarter (2) $250,000 $125,000 $122,248 $225,516 $220,000 $105,000 $190,000 $85,000 $160,000 $65,000 $130,000 $100,000 $86,186 $45,000 $32,181 33.7% 55.0% 28.4% 55.4% $70,000 $25,000 2Q20 YTD 2Q21 YTD 2Q20 2Q21 2nd Qtr YTD
Slide 20: Truck Capacity Data
Truck Capacity Data (All information is provided as of the end of the period) Jun 27, Dec 26, Jun 26, 2020 (2) 2020 2021 (2) BCO Independent Contractors 9,632 10,242 10,778 Truck Brokerage Carriers: Approved and Active (1) 37,600 46,053 53,891 Other Approved 16,365 22,972 24,098 53,965 69,025 77,989
Slide 21: Key Balance Sheet and Cash Flow Statistics
Key Balance Sheet and Cash Flow Statistics ($’s in thousands) YTD YTD Jun 27, Jun 26, 2020 2021 Balance sheet (period end amounts): Debt to Capital 13% 9% Net Cash (1) $ 183,374 $ 157,333 Cash flow: Cash flow from operations $ 198,385 $ 137,176 Capital expenditures (2) $ 20,377 $ 9,000 Share repurch
Slide 22: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends (In Thousands) $350,000 42,500 42,000 $300,000 41,500 $250,000 41,000 $200,000 40,500 40,000 $150,000 39,500 $100,000 39,000 $50,000 38,500 $0 38,000 2016 2017 2018 2019 2020 Free Cash Flow Share Purchases Dividends Paid Common Share Count Second qu
Slide 23: Designed to Respond, Built to Deliver
DESIGNED TO RESPOND BUILT TO DELIVER 14 Date Published: 07/21/2021