Landstar System Inc (NAS:LSTR)
$ 188.56 -3.05 (-1.59%) Market Cap: 6.66 Bil Enterprise Value: 6.36 Bil PE Ratio: 32.34 PB Ratio: 6.56 GF Score: 85/100
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Q2 2024 Landstar System Inc Earnings Call Transcript

Jul 30, 2024 / 09:00 PM GMT
Release Date Price: $193.87 (+1.43%)

Key Points

Positve
  • Landstar System Inc (LSTR) reported a strong balance sheet with $504 million in cash and short-term investments.
  • The company repurchased approximately 316,000 shares of common stock during the second quarter, deploying over $56 million.
  • Landstar System Inc (LSTR) announced a 9% increase in its quarterly dividend.
  • Heavy haul loadings grew 3% year over year, showing incremental improvement.
  • The company continues to invest in leading technology solutions and has allocated significant capital towards refreshing its fleet.
Negative
  • Truckload volumes declined 9% compared to the previous year, hitting the low end of the company's guidance.
  • Revenue per truckload decreased by 2.6% year over year, slightly below the midpoint of guidance.
  • Non-truck transportation service revenue decreased by 7% due to a significant drop in air revenue per shipment.
  • BCO truck count decreased by approximately 13% year over year, influenced by increased repair costs and extended repair times.
  • The freight environment remains challenging with soft demand and readily available truck capacity, impacting overall performance.


Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

LSTR.OQ - Landstar System Inc
Q2 2024 Landstar System Inc Earnings Call
Jul 30, 2024 / 09:00PM GMT

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Conference Call Participants
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* >>James Todd - Vice President and Chief Financial Officer
* >>Joseph Beacom - Vice President and Chief Safety & Operations Officer
* >>Frank Lonegro - President and Chief Executive Officer
* >>Scott Group - Analyst
* >>Jordan Alliger - Analyst
* >>Daniel Imbro - Analyst
* >>Elliot Alper - Analyst
* >>Stephanie Moore - Analyst

=====================
Presentation
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Operator [1]
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Please stand by for streaming text. Thanks. Okay. Okay. Good afternoon, and welcome to Landstar System Inc. Second Quarter Earnings Release Conference Call. All lines have been on a listen only mode
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