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Dec 26, 2020
Landstar Q4 2020 Earnings Report
Landstar reported all-time quarterly records with revenue of $1.296 billion and diluted earnings per share of $1.70.
Key Takeaways
Landstar System reported record-breaking Q4 2020 results, with revenue reaching $1.296 billion and diluted earnings per share at $1.70. Gross profit also reached an all-time quarterly high. The company experienced strong demand, especially in truckload van equipment, and successfully navigated challenges posed by the COVID-19 pandemic.
Landstar's Q4 2020 revenue reached a record $1.296 billion.
Diluted earnings per share were reported at a record $1.70, including a one-time cost of $0.31 related to agent buyouts.
Gross profit for the quarter hit a record $182.4 million, a 23% increase from Q4 2019.
Truckload van equipment revenue increased significantly, driven by consumer demand and e-commerce.
Revenue by Segment
Forward Guidance
Landstar anticipates that the macroeconomic environment experienced in the latter half of 2020 will continue, with strong consumer demand and tight truck capacity. As a result, the company expects Q1 2021 revenue to be in the range of $1.10 billion to $1.15 billion and diluted earnings per share to be in the range of $1.55 to $1.65.
Positive Outlook
- Demand for substitute line haul services expected to remain strong.
- Revenue and diluted earnings per share in Q1 2021 expected to be well above that of Q1 2020.
- Number of loads hauled via truck in Q1 2021 expected to exceed Q1 2020 in a high single-digit percentage range.
- Revenue per load on loads hauled via truck in Q1 2021 expected to exceed Q1 2020 in a mid-teen percentage range.
- The estimated range of diluted earnings per share includes insurance and claims expense estimated at 4.6 percent of BCO revenue.
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
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