Landstar System Reports Q1 2024 Results
Ticker: LSTR · Form: 8-K · Filed: 2024-04-25T00:00:00.000Z
Sentiment: bearish
Topics: earnings, financial-results
Related Tickers: LSG
TL;DR
LSG Q1 earnings down YoY, $1.15/share vs $2.07/share.
AI Summary
Landstar System, Inc. reported its first quarter 2024 results on April 24, 2024. The company announced a net income of $36.6 million, or $1.15 per diluted share, for the quarter. This compares to a net income of $67.4 million, or $2.07 per diluted share, in the first quarter of 2023.
Why It Matters
This filing provides investors with the company's financial performance for the first quarter of 2024, indicating a decrease in net income compared to the previous year.
Risk Assessment
Risk Level: medium — The decrease in net income compared to the prior year suggests potential headwinds or a slowdown in the company's business operations.
Key Numbers
- $36.6M — Q1 2024 Net Income (Lower than Q1 2023)
- $1.15 — Q1 2024 Diluted EPS (Lower than Q1 2023)
Key Players & Entities
- Landstar System, Inc. (company) — Registrant
- April 24, 2024 (date) — Date of earliest event reported
- $36.6 million (dollar_amount) — Q1 2024 net income
- $1.15 (dollar_amount) — Q1 2024 diluted earnings per share
- $67.4 million (dollar_amount) — Q1 2023 net income
- $2.07 (dollar_amount) — Q1 2023 diluted earnings per share
FAQ
What was Landstar System's net income for the first quarter of 2024?
Landstar System reported a net income of $36.6 million for the first quarter of 2024.
What were the diluted earnings per share for Landstar System in Q1 2024?
The diluted earnings per share for Landstar System in Q1 2024 were $1.15.
How does the Q1 2024 net income compare to Q1 2023?
The Q1 2024 net income of $36.6 million is lower than the Q1 2023 net income of $67.4 million.
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is April 24, 2024.
What is Landstar System's principal executive office address?
Landstar System's principal executive office is located at 13410 Sutton Park Drive South, Jacksonville, Florida 32224.
Filing Stats: 624 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-04-25 07:18:36
Filing Documents
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Financial Statements and Exhibits
Financial Statements and Exhibits Exhibits 99.1 Press Release, dated April 24, 2024, of Landstar System, Inc. 99.2 Slide Presentation, dated April 25, 2024, of Landstar System, Inc. 104 Inline XBRL for the cover page of this Current Report on Form 8-K
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LANDSTAR SYSTEM, INC. Date: April 25, 2024 By: /s/ James P. Todd Name: James P. Todd Title: Vice President, Chief Financial Officer and Assistant Secretary