Landstar Sys Inc Stock Price, News & Analysis

Landstar System, Inc. (NASDAQ: LSTR) reported diluted earnings per share (DEPS) of $2.17 for Q1 2023, down from $3.34 in Q1 2022, amidst challenging freight conditions. Revenue totaled $1.436 billion, compared to $1.971 billion in the same period last year. Gross profit decreased to $152.9 million from $214.6 million. Notably, truckload transportation revenue dropped significantly, reflecting a 14% decrease in revenue per load. Landstar purchased approximately 90,000 shares for $15.4 million and declared a quarterly dividend of $0.30 per share. The company expects Q2 revenue between $1.40 billion and $1.45 billion with projected DEPS of $1.90 to $2.00.

Lodestar Battery Metals Corp. (TSX-V: LSTR, OTCQB: SVTNF) announced the acquisition of an additional 7,859 hectares of mineral claims adjacent to its Peny Property in Manitoba's Snow Lake District. This strategic move aims to enhance the company's presence in the promising lithium pegmatite region. CEO Lowell Kamin emphasized the importance of this expansion for shareholder interests and future exploration initiatives. The new claims, totaling 47 for 11,191 hectares, were staked in February 2023 based on favorable geological assessments. Past exploration results, although not significant for lithium, indicate a correlation with other elements. Lodestar plans to leverage advanced remote sensing techniques to explore mineral targets effectively.

Landstar System, Inc. (NASDAQ:LSTR) announced it will release its 2023 first quarter results on April 26, 2023, after market close. Following this, a conference call for analysts and investors is scheduled for April 27, 2023, at 8:00 a.m. ET to discuss the results and current outlook. Participants can access the call via webcast at www.investor.landstar.com. For those unable to join live, a telephone replay will be available for 48 hours post-call, with U.S. and Canada access at (800) 879-5510.

Landstar is recognized as a Fortune 500 company and offers technology-enabled, asset-light transportation management solutions. The company is headquartered in Jacksonville, Florida, and focuses on delivering safe, specialized services to a diverse customer base.

Landstar System, Inc. (NASDAQ: LSTR) reported diluted earnings per share (DEPS) of $2.60 on revenue of $1.675 billion in Q4 2022, down from $2.99 on $1.945 billion in Q4 2021, which included a significant revenue contribution from an additional operational week. Despite these declines, Landstar achieved record annual revenue of approximately $7.4 billion for fiscal year 2022, reflecting a $900 million increase year-over-year. The company faced a softer freight environment entering 2023, with expectations for Q1 revenue ranging between $1.40 billion to $1.45 billion and DEPS projected at $2.05 to $2.15.