Landstar System, Inc. Reports Earnings Results for the Fourth Quarter Ended December 30, 2023
January 31, 2024 at 04:15 pm EST
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Landstar System, Inc. reported earnings results for the fourth quarter ended December 30, 2023. For the fourth quarter, the company reported sales was USD 1,204.45 million compared to USD 1,674.77 million a year ago. Net income was USD 57.99 million compared to USD 93.3 million a year ago.
Basic earnings per share from continuing operations was USD 1.62 compared to USD 2.6 a year ago. Diluted earnings per share from continuing operations was USD 1.62 compared to USD 2.6 a year ago.
Landstar System, Inc. is a technology-enabled, asset-light provider of integrated transportation management solutions delivering specialized transportation services to a range of customers utilizing a network of agents, third-party capacity providers and employees. The Company operates through two segments. Transportation logistics segment provides a range of integrated transportation management solutions. Transportation services offered by the Company include truckload, less-than-truckload and other truck transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, United States-Canada and United States-Mexico cross-border, intra-Mexico, intra-Canada, project cargo and customs brokerage. Insurance segment consists of Signature Insurance Company and Risk Management Claim Services, Inc. The insurance segment provides risk and claims management services to certain of Landstars Operating Subsidiaries.