https://assets.capyfin.com/instruments/678fdc13234e27009c5d5c1d.png avatar
Landstar
🇺🇸 NASDAQ:LSTR
View Company
OverviewEarningsDividends
•
Mar 28, 2020

Landstar Q1 2020 Earnings Report

Landstar's Q1 2020 results were released, showing a decrease in revenue and earnings per share compared to Q1 2019, influenced by the COVID-19 pandemic in the final week of the quarter.

Key Takeaways

Landstar System reported a decrease in revenue to $927.6 million and diluted earnings per share to $1.04 for Q1 2020, compared to $1.033 billion in revenue and $1.58 earnings per share in Q1 2019. The results were impacted by the COVID-19 pandemic in the final week of the quarter, which significantly reduced dispatched truck load volume.

Q1 2020 diluted earnings per share were $1.04, down from $1.58 in Q1 2019.

Q1 2020 revenue was $927.6 million, a decrease from $1.033 billion in Q1 2019.

Gross profit for Q1 2020 was $142.9 million, compared to $155.6 million in Q1 2019.

The COVID-19 pandemic significantly impacted truck load volume in the final week of Q1 2020.

Total Revenue
$928M
Previous year: $1.03B
-10.2%
EPS
$1.04
Previous year: $1.58
-34.2%
BCO Contractors
9.44K
Previous year: 9.91K
-4.7%
Truck Brokerage Carriers
38.88K
Previous year: 40.4K
-3.8%
Gross Profit
$143M
Previous year: $144M
-0.9%
Cash and Equivalents
$177M
Previous year: $265M
-33.0%
Free Cash Flow
$93.4M
Previous year: $117M
-20.0%
Total Assets
$1.24B
Previous year: $1.35B
-8.5%

Landstar

Landstar

Landstar Revenue by Segment

Forward Guidance

Due to the unpredictable economic environment, Landstar will not be providing revenue and earnings guidance for the 2020 second quarter; however, they expect near-term revenue and earnings to be significantly adversely impacted by the current economic environment.

Positive Outlook

  • Landstar expects to generate sufficient operating cash flow to pay all members of its network in a timely manner.
  • Landstar expects to be able to pay the regular quarterly dividend.
  • Landstar expects to be able to fund its technology initiatives.
  • Landstar expects to be able to pay finance lease obligations.
  • Landstar's financial position is expected to remain strong throughout this unprecedented time.

Challenges Ahead

  • Near-term revenue is expected to be significantly adversely impacted by the current economic environment.
  • Near-term earnings are expected to be significantly adversely impacted by the current economic environment.
  • The COVID-19 pandemic is expected to have a significant adverse impact on results of operations in the 2020 second quarter.
  • The company will be prudent in its approach to share purchases over the next few months as the depth and duration of the crisis becomes clearer.
  • The company is not providing revenue and earnings guidance for the 2020 second quarter due to the unpredictable economic environment.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Landstar