Slide 1: Landstar System, Inc. Earnings Conference Call Fourth Quarter 2021
January 26, 2022 Landstar System, Inc. Earnings Conference Call Fourth Quarter 2021 Date Published: 01/26/2022 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 as well as (1) operating income a
Slide 4: 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. Date Publishe
Slide 5: Our Network
Our Network Landstar Employees Approx. 1,400 Agents Approx. 1,200 Customers 25,000+ Capacity 101,000+ Date Published: 01/26/2022 2021 Results $6.5 billion in revenue 2.5 million loadings 593 million dollar agents 11,864 BCO trucks (2021 year-end) 90,346 Carriers (2021 year-end) 18,000+ Trailers (202
Slide 6: Percentage of Revenue by Transportation Mode
Percentage of Revenue 4Q20 4Q21 Truck Transportation (1) Truckload Van equipment 55% 53% Unsided/platform equipment 24% 22% Less-than-truckload 2% 2% Other truck transportation 12% 13% Rail intermodal 3% 2% Ocean and air cargo 3% 7% Transportation Management Services Date Published: 01/26/2022 In co
Slide 7: Revenue
Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 01/26/2022 Quarter Fiscal Year
Slide 8: Truckload Loadings and Revenue per Truckload Trends
Van Equipment Unsided/Platform Equipment Truckload Loadings and Revenue per Truckload Trends Date Published: 01/26/2022
Slide 9: Industries Served
As a Percentage of Revenue 4Q20 4Q21 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 28.0 32.3 74% Machinery 10.8 10.3 43% Building Products 8.9 7.8 32% AA&E, Hazmat 8.0 7.6 44% Automotive 8.0 7.2 35% Substitute Line Haul 7.4 5.4 11% Metals 4.4 4.7 57% Foodstuffs 4.3 3.7 29% Othe
Slide 10: Gross Profit and Gross Profit Margin
10.9% 10.8% 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. Includes the impact of approximately $12.6 million related to BCO and agent pandemic relief incentive payme
Slide 11: Variable Contribution and Variable Contribution Margin
14.1% 13.5% 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 pr
Slide 12: Operating Income as a % of Gross Profit
Excluding the impact of the $15.5 million one-time cost related to buyouts of certain agent incentive commission arrangements and the $12.6 million of pandemic relief incentive payments from the 2020 fiscal year period, operating income as a percentage of gross profit was 63.0% in the 2020 fiscal ye
Slide 13: Operating Income as a % of Variable Contribution
Excluding the impact of the $15.5 million one-time cost related to buyouts of certain agent incentive commission arrangements and the $12.6 million of pandemic relief incentive payments from the 2020 fiscal year period, operating income as a percentage of variable contribution was 45.9% in the 2020
Slide 14: Truck Capacity Data
Date Published: 01/26/2022 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. Capital expenditures includes cash capital expenditures of $30.6 million and approximately $2.8 million for the acquisition of a business during the 2020 fiscal year period. Date Published: 01/26/2022
Slide 16: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 01/26/2022 (In Thousands) (1) Free cash flow is defined as cash flow from operations less capital expenditures, each set forth on the prior slide.
Slide 17: Appendix A Reconciliation of Gross Profit to Variable Contribution
Appendix A Reconciliation of Gross Profit to Variable Contribution ($’s in thousands) Date Published: 01/26/2022 17
Slide 18: Designed to Respond
DESIGNED TO RESPOND SUIT TO DELIVER’ pubtished: 01/26/2022