Landstar reports Q3 record revenue $1.816B and DEPS $2.76; Q4 guidance cautious

LANDSTAR SYSTEM INC

2022-Q3 EPS reported $9.15 revenue$5,761,795,000

Revenue $1.816B (+5% YoY) and DEPS $2.76 (+7% YoY), both all-time Q3 records.
Gross profit $185.7M (-2% YoY); variable contribution $245.7M (+1% YoY).
Q4 2022 guidance: revenue $1.775B-1.825B, DEPS $2.60-2.70; truck loads expected down 2-4% YoY including extra week.
Truck transportation revenue $1,598.8M (88% of revenue); rail/air/ocean $191.9M (+49% YoY).
Declared quarterly dividend $0.30/share payable Dec 2; repurchased 504k shares for $73.3M in Q3.

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