Landstar estimates up to $100M Q1 revenue hit from Ukraine disruption; still expects to top prior guidance

LANDSTAR SYSTEM INC

Two largest independent agencies, generating 13% of 2021 revenue ($860M), have operations disrupted by Russian invasion of Ukraine.
Complete disruption of Ukrainian ops could reduce truckload revenue by $20-25M per week; up to $0.18 EPS impact in Q1.
Despite disruption, Q1 revenue expected to exceed prior guidance high end ($1.75B) by mid-single-digit percentage; EPS by low double-digit.
Through Feb 25, 2022, repurchased 641,000 shares for ~$101.2M.
Agency with US headquarters but significant operations in eastern Ukraine is the largest by revenue in 2021 ($740M, 11% of revenue).

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