Landstar Q1 revenue $1.44B, EPS $2.17 vs $3.34 YoY; guides Q2 EPS $1.90-$2.00

LANDSTAR SYSTEM INC

2023-Q1 EPS reported $2.17 revenue$1,435,675,000

Revenue $1.436B, down 27% YoY; DEPS $2.17, down 35% YoY.
Truck rev/load -14% YoY; loads -12% YoY; variable contribution $208.7M vs $270.5M.
Q2 2023 guidance: revenue $1.40B-$1.45B, DEPS $1.90-$2.00.
Dividend held at $0.30/share payable May 26; repurchased 90k shares for $15.4M.
Insurance/claims expense 5.3% of BCO revenue; effective tax rate 24.4% expected in Q2.

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 the first quarter of fiscal 2023 results: revenue $1.436 billion, EPS $2.17.

Period: the first quarter of fiscal 2023
Revenue: $1.436 billion
EPS: $2.17
Result: reported results

Exact text from the filing

Landstar System, Inc. (NASDAQ: LSTR) (“Landstar” or the “Company”) reported diluted earnings per share (“DEPS”) of $2.17 in the 2023 first quarter on revenue of $1.436 billion.

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Source: SEC EDGAR

accession 0001193125-23-118611

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