NASDAQ$LSTR
Landstar System Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Landstar reported record quarterly performance in Q1 2022, with significant growth in revenue, net income, and diluted earnings per share.
Landstar System, Inc. reported record quarterly revenue of $1.971 billion, a 53% increase year-over-year, with net income of $124.8 million, up 62% year-over-year, and diluted earnings per share of $3.34, a 66% increase year-over-year. The company's revenue, net income, and DEPS were the highest amounts achieved in any quarter in Landstar history.
- Landstar's Q1 2022 revenue reached a record $1.971 billion, a 53% increase compared to Q1 2021.
- Net income for Q1 2022 was $124.8 million, a 62% increase compared to Q1 2021.
- Diluted earnings per share (DEPS) for Q1 2022 reached $3.34, a 66% increase compared to Q1 2021.
- Truck transportation revenue accounted for 89% of the total revenue, while rail, air, and ocean cargo contributed 10%.
Headline financials
Revenue & EPS history
Landstar · Revenue · Quarterly
$1.97B
Revenue by segment
Landstar · $662M total across 7 segments · Q1 2022
- Truckload: Unsided/platform equipment$409M+20.0%61.7%
- Ocean and air cargo carriers$152M+219.4%23.0%
- Rail intermodal$42.7M+34.6%6.4%
- Less-than-truckload$33.7M+31.4%5.1%
- Other$24.6M+66.7%3.7%
- Truckload: Van equipment$376K-100.0%0.1%
- Other truck transportation$85.9K—0.0%
Forward guidance
Landstar anticipates revenue for Q2 2022 to be in the range of $2.0 billion to $2.05 billion, with DEPS expected to be between $3.22 and $3.32. This guidance assumes continued strong demand and a relatively stable revenue per load environment.
Tailwinds
- Overall truck revenue per load is trending at levels similar to March.
- A relatively stable revenue per load environment is expected to continue throughout the 2022 second quarter.
- Revenue per load on loads hauled via truck in the 2022 second quarter is expected to be in a mid-teen percentage range above the 2021 second quarter.
- Continued strong demand for Landstar's services is expected to persist through the 2022 second quarter.
- The number of loads hauled via truck is expected to increase over the 2021 second quarter in a range of 11 percent to 13 percent.
Headwinds
- Prior year comparisons will become more challenging as we move further into 2022.
- Headwinds relating to inflation and a potential shift in consumer spending pose a risk.
- Potential impacts relating to the war in Ukraine could affect the freight transportation environment.
- It is difficult to predict the future direction of the U.S. freight transportation environment.
- The range of DEPS includes insurance and claims expense estimated at 4.2 percent of BCO revenue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.5%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.3%
Avg return
30 days after
43%
29 / 68 earnings
Positive
+6.3%
Q3 2016
Best reaction
-8.8%
Q2 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | +0.8% | +12.9% | |
| Q4 2025 | -2.3% | -3.4% | -2.5% | |
| Q3 2025 | -3.7% | -2.8% | +1.1% | |
| Q1 2025 | -2.5% | +0.9% | -2.4% | |
| Q4 2024 | -3.5% | -5.9% | -8.2% | |
| Q3 2024 | -2.5% | -2.4% | +2.6% | |
| Q2 2024 | -0.5% | -3.4% | -5.5% | |
| Q1 2024 | +3.1% | +3.0% | +4.6% | |
| Q4 2023 | -2.0% | -1.2% | -4.2% | |
| Q3 2023 | -2.3% | -1.6% | +4.8% | |
| Q2 2023 | -1.6% | +0.3% | -7.9% | |
| Q1 2023 | -1.4% | +0.8% | -0.6% | |
| Q4 2022 | +6.2% | +5.9% | +5.5% | |
| Q3 2022 | -1.0% | +0.3% | +11.5% | |
| Q2 2022 | -0.8% | -3.7% | +1.6% | |
| Q1 2022 | +4.8% | +5.9% | -1.5% | |
| Q4 2021 | -7.1% | -1.7% | -3.3% | |
| Q3 2021 | +3.0% | +4.8% | +3.5% | |
| Q2 2021 | -3.1% | -0.4% | +2.3% | |
| Q1 2021 | -3.4% | -3.2% | -4.4% | |
| Q4 2020 | -5.0% | -6.1% | +6.9% | |
| Q3 2020 | +2.4% | +2.5% | +1.2% | |
| Q2 2020 | +0.1% | +0.6% | +9.0% | |
| Q1 2020 | +3.7% | +10.1% | +14.8% | |
| Q4 2019 | +0.4% | -1.0% | -9.9% | |
| Q3 2019 | -0.6% | +2.0% | -3.9% | |
| Q2 2019 | +0.8% | +1.0% | -5.2% | |
| Q1 2019 | +2.5% | -2.3% | -7.9% | |
| Q4 2018 | -1.6% | +1.3% | +5.9% | |
| Q3 2018 | -1.5% | -1.7% | +3.0% | |
| Q2 2018 | +1.6% | +2.0% | +8.3% | |
| Q1 2018 | -5.0% | -3.8% | +7.0% | |
| Q4 2017 | +4.0% | -1.5% | -0.9% | |
| Q3 2017 | +0.2% | -1.3% | -1.7% | |
| Q2 2017 | -8.8% | -7.0% | -6.4% | |
| Q1 2017 | +0.1% | -1.3% | -3.8% | |
| Q4 2016 | -1.0% | -0.3% | +3.1% | |
| Q3 2016 | +6.3% | +8.8% | +23.7% | |
| Q2 2016 | -1.6% | -0.3% | -1.9% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | -4.1% | — | — | |
| Q2 2015 | +1.9% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | -0.1% | — | — | |
| Q2 2014 | +5.2% | — | — | |
| Q1 2014 | +3.2% | — | — | |
| Q4 2013 | +2.0% | — | — | |
| Q3 2013 | -6.9% | — | — | |
| Q2 2013 | +2.9% | — | — | |
| Q1 2013 | -1.7% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | +1.6% | — | — | |
| Q2 2012 | +4.1% | — | — | |
| Q1 2012 | -5.6% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -2.4% | — | — | |
| Q2 2011 | -2.8% | — | — | |
| Q1 2010 | -1.4% | — | — | |
| Q1 2011 | -1.4% | — | — | |
| Q4 2008 | -1.1% | — | — | |
| Q4 2010 | -1.1% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q3 2009 | +0.3% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q2 2009 | +1.2% | — | — | |
| Q4 2009 | +1.2% | — | — |
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