Landstar System Inc. Reports Earnings Results for the Fourth Quarter Ended December 29, 2018
January 30, 2019 at 04:15 pm
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Landstar System Inc. announced earnings results for the fourth quarter ended December 29, 2018. For the fourth quarter, the company announced sales was USD 1,182.351 million compared to USD 1,051.592 million a year ago. Operating income was USD 86.088 million compared to USD 70.049 million a year ago. Net income was USD 68.256 million compared to USD 64.752 million a year ago. Basic earnings per share was USD 1.69 compared to USD 1.54 a year ago. Diluted earnings per share was USD 1.68 compared to USD 1.54 a year ago. For the full year, sales was USD 4,615.144 million compared to USD 3,646.364 million a year ago. Operating income was USD 331.735 million compared to USD 243.968 million a year ago. Net income was USD 255.281 million compared to USD 177.088 million a year ago. Basic earnings per share was USD 6.19 compared to USD 4.22 a year ago. Diluted earnings per share was USD 6.18 compared to USD 4.21 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.