Landstar System, Inc. · NASDAQ:LSTR
Landstar System — Q3 2021 Earnings Presentation
18 slides from Landstar System's earnings presentation, Oct 20, 2021
Slide 1: Landstar System, Inc. Earnings Conference Call Third Quarter 2021
October 20, 2021 Landstar System, Inc. Earnings Conference Call Third Quarter 2021 Date Published: 10/20/2021 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 operating income as 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 94,000+ Date Published: 10/20/2021 September 25, 2021 $4.6 billion in YTD revenue 1.8 million YTD loadings 508 million dollar agents (based on 2020 fiscal year) 11,746 BCO trucks 83,278 Carriers 17,900+ Trai
Slide 6: Percentage of Revenue by Transportation Mode
Percentage of Revenue 3Q20 3Q21 Truck Transportation (1) Truckload Van equipment 53% 53% Unsided/platform equipment 27% 24% Less-than-truckload 2% 2% Other truck transportation 10% 12% Rail intermodal 3% 3% Ocean and air cargo 3% 5% Transportation Management Services Date Published: 10/20/2021 In co
Slide 7: Revenue by Mode: Quarter and Year-to-Date
Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 10/20/2021 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: 10/20/2021
Slide 9: Industries Served
As a Percentage of Revenue 3Q20 3Q21 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 25.5 30.3 90% Machinery 12.1 11.1 46% AA&E, Hazmat 9.0 8.7 55% Building Products 9.8 8.2 34% Automotive 7.7 6.8 43% Substitute Line Haul 5.2 5.4 66% Metals 4.8 5.1 72% Foodstuffs 4.9 3.9 28% Othe
Slide 10: Gross Profit and Gross Profit Margin
11.0% 10.9% 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. 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
14.8% 14.0% 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 $12.6 million of pandemic relief incentive payments from the 2020 year-to-date period, operating income as a percentage of gross profit was 59.5%. Operating Income as a % of Gross Profit ($’s in thousands) Date Published: 10/20/2021 Quarter Year-to-Date (1) 68.7% 69.4% 57
Slide 13: Operating Income as a % of Variable Contribution
Excluding the impact of the $12.6 million of pandemic relief incentive payments from the 2020 year-to-date period, operating income as a percentage of variable contribution was 42.2%. Operating Income as a % of Variable Contribution ($’s in thousands) Date Published: 10/20/2021 Quarter Year-to-Date
Slide 14: Truck Capacity Data
Date Published: 10/20/2021 Truck Capacity Data (All information is provided as of the end of the applicable period) KEY INCOME STATEMENT DATA ($ in Millions) % of 2013 % of 2013 % of 2012 Rev/GP Plan Rev/GP Proj Rev/GP Sep 26, Dec 26, Sep 25, External Revenue $10,242 #REF! #REF! 2020 (2) 2020 2021 (
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 $25.4 million and approximately $2.8 million for the acquisition of a business during the 2020 year-to-date period. Date Published: 10/20/202
Slide 16: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 10/20/2021 (In Thousands) (1) Free cash flow is defined as cash flow from operations less capital expenditures, each set forth on the prior slide.
Slide 17: Appendix A Reconciliation of Gross Profit to Variable Contribution
Appendix A Reconciliation of Gross Profit to Variable Contribution ($’s in thousands) Date Published: 10/20/2021 17
Slide 18: DESIGNED TO RESPOND
DESIGNED TO RESPOND SUIT TO DELIVER’ Dubtished: 10/20/2021