NASDAQ$LSTR
Landstar System Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Landstar's first quarter performance reflected a challenging freight environment, with revenue and EPS declining compared to the record first quarter of 2022, while maintaining sequential stability in revenue per load.
Landstar System reported a decrease in revenue and diluted earnings per share for the first quarter of 2023 compared to the same period in 2022. Revenue decreased to $1.436 billion from $1.971 billion, and diluted earnings per share decreased to $2.17 from $3.34. The company noted that revenue generated via unsided/platform equipment held up better than van equipment and other truck transportation services.
- First quarter revenue was $1.436 billion, a decrease from $1.971 billion in the first quarter of 2022.
- Diluted earnings per share were $2.17, compared to $3.34 in the first quarter of 2022.
- Truck transportation revenue accounted for 92% of total revenue.
- The company anticipates second quarter revenue to be in the range of $1.40 billion to $1.45 billion and DEPS to be in the range of $1.90 to $2.00.
Headline financials
Revenue & EPS history
Landstar · Revenue · Quarterly
$1.44B
Revenue by segment
Landstar · $1.44B total across 7 segments · Q1 2023
- Truckload: Van equipment$755M+200576.9%52.6%
- Truckload: Unsided/platform equipment$378M-7.6%26.3%
- Other truck transportation$160M+185519.7%11.1%
- Ocean and air cargo carriers$61.1M-59.8%4.3%
- Less-than-truckload$31.6M-6.4%2.2%
- Rail intermodal$25.7M-39.9%1.8%
- Other$25.2M+2.6%1.8%
Forward guidance
Landstar anticipates revenue for the second quarter of 2023 to be in the range of $1.40 billion to $1.45 billion and DEPS to be in the range of $1.90 to $2.00.
Tailwinds
- Anticipates revenue for the 2023 second quarter to be in a range of $1.40 billion to $1.45 billion.
- Expects DEPS to be in a range of $1.90 to $2.00 for the second quarter of 2023.
- Expects truck revenue per load and truck load volume sequential trends closer to pre-pandemic, historical patterns.
- Insurance and claims expense estimated to be similar to the insurance and claims expense reported in the 2023 first quarter.
- Effective income tax rate of 24.4%.
Headwinds
- Truck revenue per load has thus far sequentially trended slightly below first quarter to the beginning of second quarter pre-pandemic, historical patterns.
- The number of loads hauled via truck through the first several weeks of the 2023 second quarter has sequentially trended a bit further below these historical patterns.
- Expects revenue per load on loads hauled via truck to be in a range of 12% to 14% below the 2022 second quarter.
- Expects the number of loads hauled via truck to be in a range of 14% to 16% below the 2022 second quarter.
- Challenging freight environment to begin the 2023 fiscal year.
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 2023
-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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