Landstar Posts Higher Quarterly Profit
The trucking operation Landstar System Inc. reported record quarterly revenue on Thursday as part of its fourth quarter earnings release.

Photo: Evan Lockridge

Photo: Evan Lockridge
The trucking operation Landstar System Inc. reported record quarterly revenue on Thursday as part of its fourth quarter earnings release.
Revenue totaled $863 million for its fiscal quarter ending Dec. 27 2014 compared to $692 million for same time period in 2013.
Net income for the Florida-based carrier fell to $38.5 million from $59.6 million a year earlier when its business still included Landstar Supply Chain Solutions before it was sold to XPO Logistics. However, net income from continuing operations was up compared to a year earlier when it totaled $25.2 million.
Diluted earnings per share in the most recent quarter were 86 cents, the highest from continuing operations in the company’s history, compared to 55 cents a year earlier. It fell when compared to discontinued operations in the final quarter of 2013, when it totaled $1.30 per share.
Truck transportation revenue hauled by independent contractors and truck brokerage carriers in the 2014 fourth quarter was $811.2 million, or 94% of revenue, compared to $643.6 million, or 93% of revenue, in the 2013 fourth quarter. Revenue hauled by rail, air and ocean cargo carriers was $41 million, or 5% of revenue, in the 2014 fourth quarter compared to $39 million, or 6% of revenue, the same time a year earlier.
Landstar also announced that effective Jan. 29. company President and CEO Jim Gattoni joined the board of directors of Landstar System.
“Demand for Landstar's truck transportation services in the 2014 fourth quarter continued to be extremely strong, as the number of loads hauled via truck increased 11% over the 2013 fourth quarter. Revenue per load hauled via truck also remained very strong and increased 14% over the 2013 fourth quarter,” said Gattoni. “In fact, Landstar's average revenue per load hauled via truck in the 2014 fourth quarter set a new record and was up 4% over the record set in the company's 2014 third quarter.”
He said Landstar also experienced very strong revenue growth over the 2013 fourth quarter with respect to both loads hauled with van equipment and with unsided/platform equipment, with revenue increasing 28% and 24%, respectively.
“2014 was truly an exceptional year for Landstar as the company surpassed $3 billion in revenue for the first time in its history. In addition to revenue, annual records were set for many other financial metrics including gross profit, operating income, net income and diluted earnings per share from continuing operations."
For its 2014 fiscal year, Landstar revenue was nearly $3.2 billion compared to almost $2.7 billion for 2013, while net income from continuing operations totaled $139 million compared to $109 million during the same time periods.
So far this year, Gattoni said the strength in both the number of loads hauled by truck and truck revenue per load experienced in the 2014 fourth quarter has continued.
“Assuming continued strength in both load volume and revenue per load from truck transportation services throughout the remainder of the 2015 first quarter, I anticipate revenue for the 2015 first quarter to be in a range of $750 million to $800 million. And, assuming that range of estimated revenue, I would anticipate 2015 first quarter diluted earnings per share to be in a range of 71 cents to 76 cents per share compared to 61 cents per diluted share in the 2014 first quarter,” he said.
More Fleet Management

Kodiak Lines Up Fleets for Driverless Trucking
An agreement for 75 trucks, a new Texas freight lane, and progress on safety validation move Kodiak closer to its planned driverless highway launch.
Read More →
ITS Logistics Settles Religious Harassment Case
The Nevada-based logistics firm agreed to pay more than $396,000 to settle a religious harassment charge involving an employee's Jewish identity.
Read More →
Your Trucks Are Busy. That Doesn’t Mean They’re Winning.
High utilization doesn’t always mean strong margins. Looking beyond the current load can help fleets make better dispatch decisions and get more value from each truck’s time.
Read More →
Why This Trucking Recovery Is Different
Freight demand remains sluggish, but rising costs and tougher enforcement have taken enough capacity out of the market to change the outlook for motor carriers.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
PrePass Intelligence Mines Fleet Bypass, Toll and Safety Data
PrePass Intelligence helps fleets measure bypass savings, flag potential toll overcharges, and spot suspicious transactions by combining data from separate systems.
Read More →
Motive Adds AI Agents for Fleet Operations
New tools automate follow-up on fleet data, from maintenance work orders to driver alerts, with two-way voice conversations planned for later this year.
Read More →Can You Beat Our Trucking Trivia Challenge?
Test your truck knowledge with 19 trivia questions from Heavy Duty Trucking Exchange. Can you keep up with the fleet pros?
Read More →
BeyondTrucks Adds Rules Checks to Dispatch
New Compatibility Engine checks driver qualifications, equipment requirements and fleet policies before loads are dispatched.
Read More →
Diesel Prices Hijack Trucking’s Worry List
ATRI’s annual survey finds cautious optimism about freight, but diesel costs, litigation, and insurance continue to squeeze fleets. Drivers have different priorities on several issues.
Read More →
