Landstar System, Inc. · NASDAQ:LSTR
Landstar System — Q3 2023 Earnings Presentation
18 slides from Landstar System's earnings presentation, Oct 25, 2023
Slide 1: Landstar System, Inc. Earnings Conference Call Third Quarter 2023
October 25, 2023 Landstar System, Inc. Earnings Conference Call Third Quarter 2023 Date Published: 10/25/2023 Exhibit 99.2
Slide 2: Forward Looking Statements
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 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures: In this slide presentation, the Company provides the following information that may be deemed a non-GAAP financial measure: variable contribution, variable contribution margin and operating income as a percentage of variable contribution. Management believes variable con
Slide 4: Who We Are
Who We Are Landstar, a Fortune 500 company, 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
Slide 5: Our Network
Our Network Landstar Employees Approx. 1,400 Agents Approx. 1,100 Customers 25,000+ Capacity 89,000+ Date Published: 10/25/2023 September 30, 2023 YTD Results $4.10 billion in revenue 1.70 million loadings 625 million dollar agents (based on 2022 fiscal year) 10,253 BCO trucks 79,642 Carriers 18,000
Slide 6: Percentage of Revenue by Transportation Mode
Percentage of Revenue 3Q22 3Q23 Truck Transportation Truckload Van equipment 50% 52% Unsided/platform equipment 25% 29% Less-than-truckload 2% 2% Other truck transportation 11% 8% Rail intermodal 2% 2% Ocean and air cargo 9% 5% Transportation Management Services Date Published: 10/25/2023
Slide 7: Revenue, Rate and Volume Change
Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 10/25/2023 Quarter Year-to-Date
Slide 8: Truckload Loadings and Revenue per Truckload Trends
Van Equipment Unsided/Platform Equipment Truckload Loadings and Revenue per Truckload Trends Date Published: 10/25/2023
Slide 9: Industries Served
As a Percentage of Revenue 3Q22 3Q23 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 28.6 27.7 -32% Machinery 12.1 14.1 -18% Automotive 8.7 11.5 -6% Building Products 8.5 8.3 -31% AA&E, Hazmat 8.4 7.8 -34% Metals 4.9 4.8 -31% Foodstuffs 3.4 2.5 -48% Substitute Line Haul 3.3 1.8 -
Slide 10: Gross Profit and Gross Profit Margin
10.2% 9.9% Gross profit equals revenue less the cost of purchased transportation, commissions to agents and other costs of revenue. Gross profit margin equals gross profit divided by revenue. Gross Profit (1) and Gross Profit Margin (2) ($’s in thousands) Date Published: 10/25/2023 Quarter Year-to-D
Slide 11: Variable Contribution and Variable Contribution Margin
Variable contribution equals revenue less the cost of purchased transportation and commissions to agents. Variable contribution margin equals variable contribution divided by revenue. Revenue on transactions where the Company’s variable contribution margin was based on a contractually pre-determined
Slide 12: Operating Income as a % of Gross Profit
Operating Income as a % of Gross Profit ($’s in thousands) Date Published: 10/25/2023 Year-to-Date 12 Quarter 73.4% 64.1% 71.9% 62.7%
Slide 13: Operating Income as a % of Variable Contribution
Operating Income as a % of Variable Contribution ($’s in thousands) Date Published: 10/25/2023 Year-to-Date 57.0% 45.4% 13 54.3% 42.9% Quarter
Slide 14: Truck Capacity Data
Date Published: 10/25/2023 Truck Capacity Data (All information is provided as of the end of the applicable period)
Slide 15: Key Balance Sheet and Cash Flow Statistics
Net cash is defined as cash and cash equivalents plus short term investments less outstanding debt. Date Published: 10/25/2023 Key Balance Sheet and Cash Flow Statistics ($’s in thousands)
Slide 16: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 10/25/2023 (In Thousands) (1) Free cash flow is defined as cash flow from operations less capital expenditures, each set forth on the prior slide.
Slide 17: Appendix A Reconciliation of Gross Profit to Variable Contribution
Appendix A Reconciliation of Gross Profit to Variable Contribution ($’s in thousands) Date Published: 10/25/2023 17
Slide 18: Date Published: 10/25/2023
Date Published: 10/25/2023