Landstar System, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 24, 2022
October 19, 2022 at 04:15 pm EDT
Share
Landstar System, Inc. reported earnings results for the third quarter and nine months ended September 24, 2022. For the third quarter, the company reported sales was USD 1,816.13 million compared to USD 1,734.3 million a year ago. Net income was USD 100.22 million compared to USD 98.68 million a year ago. Diluted earnings per share was USD 2.76 compared to USD 2.58 a year ago.
For the nine months, sales was USD 5,761.8 million compared to USD 4,592.55 million a year ago. Net income was USD 337.61 million compared to USD 268.21 million a year ago. Diluted earnings per share was USD 9.15 compared to USD 7 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.