Loading...
•
Sep 30, 2023
Landstar Q3 2023 Earnings Report
Landstar's Q3 2023 performance was impacted by soft freight market fundamentals, resulting in a decrease in revenue and earnings per share compared to the record Q3 2022.
Key Takeaways
Landstar System reported a decrease in revenue to $1.289 billion and earnings per share to $1.71 for Q3 2023, compared to $1.816 billion in revenue and $2.76 EPS in Q3 2022. The results reflect a challenging freight market with lackluster demand and a loose truck capacity market.
Q3 2023 EPS was $1.71, down from $2.76 in Q3 2022.
Q3 2023 revenue was $1.289 billion, compared to $1.816 billion in Q3 2022.
Truck transportation revenue accounted for 91% of the total revenue.
Cash and short-term investments were approximately $497 million as of September 30, 2023.
Revenue by Segment
Forward Guidance
Landstar anticipates Q4 2023 revenue to be in the range of $1.225 billion to $1.275 billion and EPS to be in the range of $1.60 to $1.70.
Positive Outlook
- Revenue per load on loads hauled via truck expected to be 6% to 8% below Q4 2022.
- Strong balance sheet with approximately $497 million in cash and short term investments as of September 30, 2023.
Challenges Ahead
- Number of loads hauled via truck expected to be 20% to 22% below Q4 2022.
- Expectation of a muted peak season.
- The 2023 fourth quarter will include 13 weeks of operations while the 2022 fourth quarter included 14 weeks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...