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Last $63.93 USD
Change Today -0.56 / -0.87%
Volume 539.0K
LSTR On Other Exchanges
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Frankfurt
As of 8:10 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

landstar system inc (LSTR) Key Developments

Landstar System Inc. Declares Quarterly Dividend, Payable on May 29, 2015; Reports Unaudited Consolidated Earnings and Operating Results for the Thirteen Weeks Ended March 28, 2015; Provides Earnings Guidance for the Second Quarter of 2015

Landstar System Inc. announced that its Board of Directors has declared a quarterly dividend of $0.07 per share payable on May 29, 2015, to stockholders of record as of the close of business on May 7, 2015. It is currently the intention of the Board to pay dividends on a quarterly basis going forward. The company reported unaudited consolidated earnings and operating results for the thirteen weeks ended March 28, 2015. For the period, the company reported revenue of $762,380,000 against $688,197,000 a year ago. Operating income was $49,045,000 against $45,014,000 a year ago. Income before income taxes was $48,264,000 against $44,246,000 a year ago. Net income was $30,015,000 or $0.67 per basic and diluted share against $27,638,000 or $0.61 per basic and diluted share a year ago. Cash flow from operations for the first quarter of 2015 was $49 million and cash capital expenditures were $2 million. For the period, the company reported the number of loads hauled via truck exceeded the 2014 first quarter by 6% and the number of loads hauled via railroads, ocean cargo carriers and air cargo carriers increased 32% over the 2014 first quarter. The growth in the number of loads hauled via truck was driven by a 32% increase in less-than-truckload volume and a 7% increase in the number of loads hauled via van equipment. The number of loads hauled via unsided/platform equipment was relatively flat to the 2014 first quarter, impacted by an 11% decrease in the number of heavy/specialized loads, which comprised approximately 28% of Landstar's unsided/platform revenue in the 2015 first quarter. Revenue per load on loads hauled via truck was at all-time seasonal highs in the 2015 first quarter. After a 7% increase in revenue per load on loads hauled via truck in the first eight weeks of 2015 compared to the first eight weeks of 2014, though, period-over-prior-year period truck revenue per load slowed into March, as expected. Truck revenue per load in the final five weeks of the 2015 first quarter was 1% lower as compared to the final five weeks of the 2014 first quarter mostly due to the exceptionally strong truck revenue per load experienced in March 2014 and the impact of lower diesel fuel costs on loads hauled via truck brokerage carriers. Despite higher insurance and claims expense caused mostly by an unfavorable jury verdict in the 2015 first quarter related to an accident from a prior year, operating margin was 42.5%. For the second quarter of 2015, the company expects the number of loads hauled via truck in the 2015 second quarter to increase in a mid-single digit range over the 2014 second quarter.  The company anticipates truck revenue per load in the 2015 second quarter to be relatively flat to the 2014 second quarter. The company’s expectation is that pricing conditions for truck services in the 2015 second quarter will remain similar to those experienced in March, with a stable, yet relatively tight truck capacity market and a low per gallon cost of diesel fuel. Assuming the current environment continues throughout the 2015 second quarter, the company anticipates revenue for the 2015 second quarter to be in a range of $830 million to $880 million and, assuming that range of estimated revenue would anticipate 2015 second quarter diluted earnings per share to be in a range of $0.87 to $0.92 per share compared to $0.80 per diluted share in the 2014 second quarter.

Landstar System Inc. Reports Revenue Results for the First Eight Weeks of 2015; Reaffirms Earnings Guidance for the First Quarter of 2015

Landstar System Inc. reported revenue results for the first eight weeks of 2015. The company announced that overall, revenue through the first 8 weeks of 2015 increased approximately 15% over the first 8 weeks of 2014. The increase in revenue was mostly attributable to a 7% increase in revenue per load and a 7% increase in the number of loads hauled via truck. Revenue per load on loads hauled through truck during the first 8 weeks were at seasonal all-time highs. Additionally, the number of loads hauled via truck in the first 8 weeks of 2015 were the highest number of loads hauled via truck during the first 8 weeks of any year in Landstar history. Based on the results so far and the estimate for the fiscal March period, the company announced that it continue to be comfortable with its previously issued guidance of first quarter revenue to be in the range of $750 million to $800 million. Based on that forecasted range of revenue, anticipates first quarter diluted earnings per share to be in the range of $0.71 to $0.76.

Landstar System Inc. - Special Call

Landstar System Inc. - Special Call

Landstar System Inc. to Report Q1, 2015 Results on Apr 23, 2015

Landstar System Inc. announced that they will report Q1, 2015 results at 4:00 PM, US Eastern Standard Time on Apr 23, 2015

Landstar System Inc., Q1 2015 Earnings Call, Apr 23, 2015

Landstar System Inc., Q1 2015 Earnings Call, Apr 23, 2015

 

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