Slide 1: Landstar System, Inc. Earnings Conference Call Fourth Quarter 2022
December 31, 2022 Landstar System, Inc. Earnings Conference Call Fourth Quarter 2022 Date Published: 02/01/2023 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. Management believes variable con
Slide 4: Who We Are
Who We Are Landstar, a Fortune 500 company, 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
Slide 5: Our Network
Our Network Landstar Employees Approx. 1,400 Agents Approx. 1,200 Customers 25,000+ Capacity 108,000+ Date Published: 02/01/2023 2022 Results $7.44 billion in revenue Over 2.6 million loadings 625 million dollar agents 11,281 BCO trucks (2022 year-end) 97,744 Carriers (2022 year-end) 18,500+ Trailer
Slide 6: Percentage of Revenue
Percentage of Revenue 4Q21 4Q22 Truck Transportation Truckload Van equipment 53% 52% Unsided/platform equipment 22% 25% Less-than-truckload 2% 2% Other truck transportation 13% 12% Rail intermodal 2% 2% Ocean and air cargo 7% 5% Transportation Management Services Date Published: 02/01/2023
Slide 7: Revenue by Quarter and Fiscal Year
The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022 fourth quarter included fourteen weeks of operations whereas the 2021 fourth quarter included thirteen weeks. Fiscal year 2022 included fifty-three weeks of operations whereas fiscal year 2021
Slide 8: Truckload Loadings and Revenue per Truckload Trends
Van Equipment Unsided/Platform Equipment Truckload Loadings and Revenue per Truckload Trends Date Published: 02/01/2023 The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022 fourth quarter included fourteen weeks of operations whereas the 2021 fou
Slide 9: Industries Served
As a Percentage of Revenue 4Q21 4Q22 Quarter over Prior Year Quarter Change in Revenue Consumer Durables 32.3 28.9 -23% Machinery 10.3 12.5 5% Automotive 7.2 10.9 30% AA&E, Hazmat 7.6 7.8 -12% Building Products 7.8 7.7 -15% Metals 4.7 4.6 -15% Substitute Line Haul 5.4 3.6 -43% Foodstuffs 3.7 3.3 -25
Slide 10: Gross Profit and Gross Profit Margin
10.8% 10.7% 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. The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022
Slide 11: Variable Contribution and Variable Contribution Margin
Variable contribution equals revenue less the cost of purchased transportation and commissions to agents. Variable contribution margin equals variable contribution divided by revenue. The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022 fourth qu
Slide 12: Operating Income as a % of Gross Profit
Operating Income as a % of Gross Profit ($’s in thousands) Date Published: 02/01/2023 Fiscal Year 12 Quarter 70.1% 72.4% 70.9% 69.1% The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022 fourth quarter included fourteen weeks of operations whereas
Slide 13: Operating Income as a % of Variable Contribution
Operating Income as a % of Variable Contribution ($’s in thousands) Date Published: 02/01/2023 Fiscal Year 55.2% 56.1% 13 56.5% 53.1% Quarter The Company’s fiscal year ends each year on the last Saturday in December and, as such, the Company’s 2022 fourth quarter included fourteen weeks of operation
Slide 14: Truck Capacity Data
Date Published: 02/01/2023 Truck Capacity Data (All information is provided as of the end of the applicable period)
Slide 15: Key Balance Sheet and Cash Flow Statistics
Net cash is defined as cash and cash equivalents plus short term investments less outstanding debt. Date Published: 02/01/2023 Key Balance Sheet and Cash Flow Statistics ($’s in thousands)
Slide 16: Free Cash Flow, Stock Purchases and Dividends
Free Cash Flow (1) , Stock Purchases and Dividends Date Published: 02/01/2023 (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: 02/01/2023 17
Slide 18: DESIGNED TO RESPOND
DESIGNED TO RESPOND SUIT TO DELIVER: pubtished: 02/01/2023