Landstar System, Inc. · NASDAQ:LSTR
Landstar System — Q3 2020 Earnings Presentation
14 slides from Landstar System's earnings presentation, Oct 21, 2020
Slide 1: Landstar System, Inc. Earnings Conference Call Third Quarter 2020
October 21, 2020 Landstar System, Inc. Earnings Conference Call Third Quarter 2020 Date Published: 10/21/2020 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: 10/21/2020
Slide 4: The Network
The Network Landstar Employees Approx. 1,300 Agents Approx. 1,200 Customers 25,000+ Capacity 65,000+ 2019 Results $4.1 billion in revenue 2.1 million loadings 555 million dollar agents 10,243 BCO trucks (2019 year-end) 56,317 Carriers (2019 year-end) 17,000+ Trailers (2019 year-end) Date Published:
Slide 5: Percentage of Revenue 3Q19 3Q20
Percentage of Revenue 3Q19 3Q20 Truck Transportation Truckload Van equipment 57% 61% Unsided/platform equipment 33% 29% Less-than-truckload 3% 2% Rail intermodal 3% 3% Ocean and air cargo 3% 3% Transportation Management Services Date Published: 10/21/2020
Slide 6: Revenue by Quarter and Year-to-Date
Percentage change in rate is calculated on a revenue per load basis. Percentage change in volume is calculated on the number of loads hauled. Revenue ($’s in thousands) Date Published: 10/21/2020 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: 10/21/2020
Slide 8: Industries Served
As a Percentage of Transportation Revenue 3Q19 3Q20 Quarter over Prior Year Quarter Growth Consumer Durables 24.6 25.5 11% Machinery 14.9 12.1 -12% Building Products 9.1 9.8 15% AA&E, Hazmat 8.9 9.0 9% Automotive 7.0 7.7 17% Foodstuffs 4.2 4.9 26% Metals 5.8 4.8 -12% Energy 3.9 2.7 -26% Other 21.6 2
Slide 9: Gross Profit and Gross Profit Margin
15.1% 14.8% 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% and 52% of revenue in the 2019 and 2020 year-to-date periods, resp
Slide 10: Operating Income and Operating Margin
Operating margin equals operating income divided by gross profit. Excluding the impact of the $12.6 million of pandemic relief incentive payments from the 2020 year-to-date period, operating margin was 42.2% in the 2020 year-to-date period. Operating Income and Operating Margin (1) ($’s in thousands
Slide 11: Truck Capacity Data
Date Published: 10/21/2020 Truck Capacity Data (All information is provided as of the end of the period) Sep 28, Dec 28, Sep 26, 2019 (2) 2019 2020 (2) BCO Independent Contractors 9,738 9,554 9,866 Truck Brokerage Carriers: Approved and Active (1) 39,963 39,497 41,246 Other Approved 16,984 16,820 22
Slide 12: 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: 10/21/202
Slide 13: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 10/21/2020 (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: BUILT)
BUILT) Dubtished: 10/21/2020