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JACKSONVILLE, Fla. - Landstar System , Inc. (NASDAQ: NASDAQ:LSTR) reported fourth quarter earnings that missed analyst expectations, while revenue slightly exceeded estimates.
The transportation and logistics company posted earnings per share of $1.31, falling short of the $1.36 consensus estimate. Revenue came in at $1.21 billion, edging past analyst projections of $1.2 billion.
Landstar’s fourth quarter revenue increased marginally by 0.4% compared to the same period last year. The company saw year-over-year quarterly revenue growth for the first time since the third quarter of 2022.
"The Landstar team of independent business owners and employees continued to perform admirably, despite the continuation of a challenging freight backdrop," said Landstar President and CEO Frank Lonegro.
Truck transportation revenue, which accounted for 89% of total revenue, declined slightly to $1.08 billion from $1.09 billion a year ago. The number of loads hauled via truck decreased by 3.4% year-over-year, while revenue per load increased by 3.1%.
For the full year 2024, Landstar reported revenue of $4.82 billion, down from $5.30 billion in 2023. Net income for the year was $195.9 million, compared to $264.4 million in the previous year.
The company’s board declared a quarterly dividend of $0.36 per share, payable on March 11, 2025 to shareholders of record as of February 18, 2025.
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