Landstar Q4 revenue $1.675B, DEPS $2.60; full-year records but Q4 down YoY; Q1 2023 guidance weak

LANDSTAR SYSTEM INC

2022-FY EPS reported $11.76 revenue$7,436,562,000

Q4 2022 DEPS $2.60 vs $2.99 in 2021; revenue $1.675B vs $1.945B; extra week contributed ~$65M revenue.
FY2022 revenue ~$7.4B (record), DEPS $11.76 (up 18% YoY); operating income $571M record.
Q1 2023 guidance: revenue $1.40B-$1.45B, DEPS $2.05-$2.15; truck loads down 10-12% YoY in January.
Board declared $0.30 quarterly dividend, payable March 10, 2023 to holders of record Feb 13, 2023.
Truck revenue per load down 7% YoY; loads down 5.5%; soft peak season and weaker demand cited.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LANDSTAR SYSTEM INC reported fiscal year 2022 results: revenue approximately $7.4 billion, EPS $11.76.

Period: fiscal year 2022
Revenue: approximately $7.4 billion
EPS: $11.76
Result: reported results

Exact text from the filing

Gattoni further stated, “As expected, even with a challenging 2022 fourth quarter, Landstar’s fiscal year financial performance in 2022 was the best in the Company’s history. Revenue in fiscal year 2022 was approximately $7.4 billion, an annual record, and was approximately $900 million higher than the previous record set in 2021. Gross profit and variable contribution in fiscal year 2022 were $788 million and $1.018 billion, respectively, both also representing new annual records. Operating income in fiscal year 2022 was an annual record of $571 million and represented year-over-year growth of 13%. Diluted earnings per share in fiscal year 2022 was an annual record of $11.76, an increase of $1.78, or 18 percent, from our prior fiscal year record of $9.98 in 2021.”

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LANDSTAR SYSTEM INC reported the 2022 fourteen-week fourth quarter results: revenue $1.675 billion, EPS $2.60.

Period: the 2022 fourteen-week fourth quarter
Revenue: $1.675 billion
EPS: $2.60
Result: reported results

Exact text from the filing

Landstar System, Inc. (NASDAQ: LSTR) (“Landstar” or the “Company”) reported diluted earnings per share (“DEPS”) of $2.60 in the 2022 fourteen-week fourth quarter on revenue of $1.675 billion.

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Source: SEC EDGAR

accession 0001193125-23-021621

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