Landstar System, Inc. operates as an asset-light provider of integrated transportation management solutions worldwide. The company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise-wide solutions to manage all of a customer’s transportation needs. The company provides services principally throughout the United States and to a lesser extent in Canada, and between the United States and Canada, Mexico and other countries worldwide. The company’s services are delivered through a network of independent commission sales agents and third party capacity providers linked together by a series of technological applications, which are provided and coordinated by the company. The company markets its integrated transportation management solutions primarily through independent commission sales agents and utilizes third party capacity providers to transport customers’ freight. The company’s independent commission sales agents enter into contractual arrangements with the company and are responsible for locating freight, making that freight available to its capacity providers and coordinating the transportation of the freight with customers and capacity providers. The company’s third party capacity providers consist of independent contractors who provide truck capacity to the company under exclusive lease arrangements (the ‘BCO Independent Contractors’), unrelated trucking companies who provide truck capacity to the company under non-exclusive contractual arrangements (the ‘Truck Brokerage Carriers’), air cargo carriers, ocean cargo carriers, and railroads. Segments The company has two segments, Transportation Logistics and Insurance. Transportation Logistics segment This segment provides a range of integrated transportation management solutions. Transportation services offered by the company include truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, the U.S.-Canada and the U.S.-Mexico cross-border, project cargo and customs brokerage. Industries serviced by the Transportation Logistics segment include automotive products, building products, metals, chemicals, foodstuffs, heavy machinery, retail, electronics, ammunition and explosives and military equipment. In addition, the Transportation Logistics segment provides transportation services to other transportation companies, including third party logistics and less-than-truckload service providers. Each of the independent commission sales agents has the opportunity to market all of the services provided by the Transportation Logistics segment. Truck Services The Transportation Logistics segment’s truck transportation services include a range of truckload transportation for a range of commodities, and to a lesser degree, less-than-truckload transportation services. The company utilizes an assortment of equipment, including dry and specialty vans of various sizes, unsided/platform trailers (including flatbeds, drop decks and light specialty trailers), temperature-controlled vans and containers. Available truck transportation services also include short-to-long haul movement of containers by truck and expedited ground and dedicated power-only truck capacity. Rail Intermodal Services The Transportation Logistics segment has contracts with Class 1 domestic and Canadian railroads, certain short-line railroads and most major asset-based intermodal equipment providers, including agreements with stacktrain operators and container and trailing equipment companies. In addition, the Transportation Logistics segment has contracts with a network of local trucking companies that handle pick-up and delivery of rail freight. These contracts provide the Transportation Logistics segment the ability to transport freight through rail throughout the United States, Canada, and Mexico. The Transportation Logistics segment’s rail intermodal service capabilities include trailer on flat car, container on flat car, box car and railcar. Air and Ocean Services
landstar system inc (LSTR:NASDAQ GS)
13410 Sutton Park Drive South
Jacksonville, FL 32224
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