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Dec 25, 2021
Landstar Q4 2021 Earnings Report
Landstar's Q4 2021 performance was record-breaking, with revenue, net income, and EPS reaching all-time quarterly highs.
Key Takeaways
Landstar System, Inc. reported record quarterly revenue of $1.945 billion, a 50 percent increase over Q4 2020. Net income was $113.3 million, with diluted earnings per share of $2.99, compared to $65.1 million and $1.70 respectively in Q4 2020. Operating income also reached a record of $148.7 million.
Q4 2021 revenue increased by 50% compared to Q4 2020, reaching a record $1.945 billion.
Diluted earnings per share (DEPS) for Q4 2021 was $2.99, a 76% increase over Q4 2020.
Operating income for Q4 2021 reached a record $148.7 million, a 76% increase over Q4 2020.
Truck load volume grew 22% compared to Q4 2020.
Landstar
Landstar
Landstar Revenue by Segment
Revenue by Segment
Van equipment Revenue
CapyFin.comUnsided/platform equip. Revenue
CapyFin.comLess-than-truckload Revenue
CapyFin.comOther truck transport Revenue
CapyFin.comRail intermodal Revenue
CapyFin.comOcean & air cargo Revenue
CapyFin.com Forward Guidance
Landstar anticipates continued solid performance in Q1 2022, expecting revenue to be in the range of $1.70 billion to $1.75 billion and diluted earnings per share to be in the range of $2.70 to $2.80.
Positive Outlook
- Expects revenue per load on loads hauled via truck to increase 14 to 17 percent in Q1 2022 over Q1 2021.
- Anticipates loads hauled via truck to increase by 12 to 14 percent in Q1 2022 over Q1 2021.
- Expects ongoing capacity constraints to support a strong freight environment in the near term.
- Strength in revenue per load on loads hauled via truck has continued into the first few weeks of January.
- Strong trends in loads hauled via truck are expected to continue through the remainder of Q1 2022.
Challenges Ahead
- Typically, revenue in the first quarter is expected to be lower than the revenue of the immediately preceding fourth quarter.
- Assumes insurance and claims costs of 4.2 percent of BCO revenue.
- Assumes an effective income tax rate of 22.4 percent.
- Guidance is based on expectations for volume and pricing on loads hauled by truck.
- Future results are subject to uncertainties and risks including the impact of the coronavirus (COVID-19) pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income