Landstar System, Inc. · NASDAQ:LSTR
Landstar System — Q3 2018 Earnings Presentation
14 slides from Landstar System's earnings presentation, Oct 24, 2018
Slide 1: Earnings Conference Call Third Quarter 2018
Exhibit 99.2 DESIGNED TO RESPOND BUILT TO DELIVER Landstar System, Inc. Earnings Conference Call Third Quarter 2018 October 24, 2018 Date Published: 10/24/2018Exhibit 99.2 DESIGNED TO RESPOND BUILT TO DELIVER Landstar System, Inc. Earnings Conference Call Third Quarter 2018 October 24, 2018 Date Pub
Slide 2: Safe harbor statement
The following is a“safeharbor” statement under the Private Securities Litigation Reform Act of 1995. Statements made during this presentation that are not based on historical facts are“forward looking statements.” During this presentation, I may make certain statements, containing forward-looking st
Slide 3: Model Definition
Model Definition Landstar is a worldwide, 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 Published: 10/24/201
Slide 4: The Network and 2017 Results
The Network 2017 Results Agents Approx. $3.6 billion in revenue 1,200 2.0 million loadings 542 million dollar agents 9,696 BCO trucks (2017 year-end) Landstar 49,934 Carriers (2017 year-end) Employees 15,000+ Trailers (2017 year-end) Approx. 1,300 Customers Capacity 25,000+ 59,000+ 4 Date Published:
Slide 5: Transportation Management Services Percentage of Revenue
Transportation Management Services Percentage of Revenue 3Q17 3Q18 Truck Transportation Truckload Van equipment 58% 60% Unsided/platform equipment 32% 31% Less-than-truckload 2% 2% Rail intermodal 3% 3% Ocean and air cargo 3% 3% 5 Date Published: 10/24/2018Transportation Management Services Percenta
Slide 6: Revenue
Revenue ($’s in thousands) Quarter Year-to-Date $3,600,000 $1,300,000 $3,432,793 $1,202,081 $3,300,000 $1,220,000 $1,140,000 $3,000,000 $1,060,000 $2,700,000 $943,430 $2,594,772 $980,000 $2,400,000 $900,000 3Q17 YTD 3Q18 YTD 3Q17 3Q18 (1) (2) (1) (2) Year over Prior Year Rate Volume Change Qtr over
Slide 7: Truckload Loadings and Revenue per Load
Truckload Loadings and Revenue per Load (Excludes LTL) Van Equipment Revenue per Load Number of Loads 380,000 $2,100 360,000 $2,000 340,000 $1,900 320,000 $1,800 300,000 $1,700 280,000 $1,600 260,000 $1,500 240,000 Unsided/Platform Revenue per Load Number of Loads Equipment $2,900 140,000 $2,800 130
Slide 8: Industries Served as a Percentage of Revenue
Industries Served As a Percentage of Revenue Quarter over Prior Year Quarter 3Q17 3Q18 Growth Consumer Durables 21.0 23.2 41% Machinery 14.3 14.3 28% Automotive 7.1 8.3 49% Building Products 10.2 8.7 8% Metals 6.6 6.7 30% AA&E, Hazmat 8.6 8.4 25% Foodstuffs 4.7 5.5 49% Energy 3.2 2.8 11% Other 24.3
Slide 9: Gross Profit and Gross Profit Margin
(1) (2) Gross Profit and Gross Profit Margin ($’s in thousands) Year-to-Date Quarter $180,000 $498,255 $500,000 $171,304 $170,000 $470,000 $160,000 $440,000 $150,000 $140,005 $394,156 $410,000 14.5% 14.3% $140,000 15.2% 14.8% $380,000 $130,000 3Q17 YTD 3Q18 YTD 3Q17 3Q18 (3) (3) 3rd Qtr 3rd Qtr YTD
Slide 10: Operating Income and Operating Margin
(1) Operating Income and Operating Margin ($’s in thousands) Year-to-Date Quarter $92,000 $87,068 $245,647 $250,000 $85,000 $235,000 $220,000 $78,000 $205,000 $71,000 50.8% $190,000 $173,919 49.3% $64,000 48.4% $175,000 $60,567 44.1% 4 43.3% $160,000 $57,000 3Q17 YTD 3Q18 YTD 3Q17 3Q18 3rd Qtr YTD 3
Slide 11: Truck Capacity Data
Truck Capacity Data (All information is provided as of the end of the period) Sep 30, Dec 30, Sep 29, (2) (2) 2017 2018 2017 BCO Independent Contractors 8,939 9,087 9,751 Truck Brokerage Carriers: (1) Approved and Active 32,925 3 4,243 40,151 Other Approved 15,138 1 5,691 16,803 4 8,063 4 9,934 56,9
Slide 12: Key Balance Sheet and Cash Flow Statistics
Key Balance Sheet and Cash Flow Statistics ($’s in thousands) YTD YTD Sep 30, Sep 29, 2017 2018 Balance sheet (period end amounts): Debt to Capital 15% 14% Net Cash (1) $ 1 78,026 $ 1 40,330 Cash flow: Cash flow from operations $ 1 32,264 $ 2 04,205 Capital expenditures $ 16,999 $ 7,325 Share repurc
Slide 13: Free Cash Flow / Share Purchases
(1) Free Cash Flow / Share Purchases (In Thousands) $250,000 50,000 $200,000 48,000 $150,000 46,000 $100,000 44,000 $50,000 42,000 $- 40,000 2013 2014 2015 2016 2017 Free Cash Flow Share Purchases Common Share Count Third quarter 2018 YTD (000's) Free cash flow (1) $ 1 96,880 Share purchases $ 1 05,
Slide 14: Designed to Respond, Built to Deliver
DESIGNED TO RESPOND BUILT TO DELIVER 14 Date Published: 10/24/2018DESIGNED TO RESPOND BUILT TO DELIVER 14 Date Published: 10/24/2018