Landstar System, Inc. · NASDAQ:LSTR
Landstar System — Q3 2019 Earnings Presentation
14 slides from Landstar System's earnings presentation, Oct 23, 2019
Slide 1: Landstar System, Inc. Earnings Conference Call Third Quarter 2019
October 23, 2019 Landstar System, Inc. Earnings Conference Call Third Quarter 2019 Date Published: 10/23/2019 Exhibit 99.2
Slide 2: Safe Harbor Statement
The following is a “safe harbor” 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
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. Date Published: 10/23/2019
Slide 4: The Network
The Network Landstar Employees Approx. 1,200 Agents Approx. 1,300 Customers 25,000+ Capacity 68,000+ 2018 Results $4.6 billion in revenue 2.1 million loadings 608 million dollar agents 10,599 BCO trucks (2018 year-end) 59,054 Carriers (2018 year-end) 16,000+ Trailers (2018 year-end) Date Published:
Slide 5: Percentage of Revenue by Transportation Mode
Percentage of Revenue 3Q18 3Q19 Truck Transportation Truckload Van equipment 60% 57% Unsided/platform equipment 31% 33% Less-than-truckload 2% 3% Rail intermodal 3% 3% Ocean and air cargo 3% 3% Transportation Management Services Date Published: 10/23/2019
Slide 6: Revenue
Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 10/23/2019 Quarter Year-to-Date
Slide 7: Truckload Loadings and Revenue per Load
Van Equipment Unsided/Platform Equipment Truckload Loadings and Revenue per Load (Excludes LTL) Date Published: 10/23/2019 The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2018 and 2017 fourth quarters included thirteen weeks of operations whereas
Slide 8: Industries Served
As a Percentage of Revenue 3Q18 3Q19 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 23.2 24.6 -11% Machinery 14.3 14.9 -13% Automotive 8.3 7.0 -29% Building Products 8.7 9.1 -11% Metals 6.7 5.8 -27% AA&E, Hazmat 8.4 8.9 -12% Foodstuffs 5.5 4.2 -36% Energy 2.8 3.9 16% Other 22.1
Slide 9: Gross Profit and Gross Profit Margin
14.3% 15.1% Gross profit equals revenue less the cost of purchased transportation and commissions to agents. Gross profit margin equals gross profit divided by revenue. Revenue on transactions with a fixed gross profit margin was 51% of revenue in both the 2018 and 2019 year-to-date periods, and 50%
Slide 10: Operating Income and Operating Margin
50.5% 48.4% 4 Operating margin equals operating income divided by gross profit. Operating Income and Operating Margin (1) ($’s in thousands) Date Published: 10/23/2019 Quarter Year-to-Date 50.8% 46.3% 49.3% 10 49.8%
Slide 11: Truck Capacity Data
Date Published: 10/23/2019 Truck Capacity Data (All information is provided as of the end of the period)
Slide 12: Key Balance Sheet and Cash Flow Statistics
(1) Net cash is defined as cash and cash equivalents plus short term investments less outstanding debt. Date Published: 10/23/2019 Key Balance Sheet and Cash Flow Statistics ($’s in thousands)
Slide 13: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 10/23/2019 (In Thousands) (1) Free cash flow is defined as cash flow from operations less capital expenditures, each set forth on the prior slide.
Slide 14: DESIGNED TO RESPOND
DESIGNED TO RESPOND SUIT TO DELIVER’ Pubtished: 10/23/2019