LSTR FY 2018 Earnings Report — Landstar System, Inc. Revenue & Financial Results | Market Cap Arena

Landstar System, Inc.LSTR

FY 2018 Earnings

Reported February 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$4.6B	—	$3.6B	—	26.6%
Op. Income	$332M	—	$244M	—	36.0%
Gross Margin	21.1%	—	21.4%	—	-0.3pp
Net Margin	5.5%	—	4.9%	—	0.7pp
EPS (Diluted)	$6.18	—	$4.21	—	46.8%
Free Cash Flow	$288M	—	$123M	—	133.6%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$3.6B
GROSS PROFIT	$973M
R&D Expenses	$0
Selling & Marketing	$378M
General & Administrative	$188M
SG&A Expenses	$566M
Other Expenses	$75M
Operating Expenses	$642M
Cost & Expenses	$4.3B
OPERATING INCOME	$332M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$328M
Income Tax Expense	$73M
Net Income from Continuing Ops	$255M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$44M
EBIT	$331M
EBITDA	$374M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$3.6B
GROSS PROFIT	$973M
R&D Expenses	$0
Selling & Marketing	$378M
General & Administrative	$188M
SG&A Expenses	$566M
Other Expenses	$75M
Operating Expenses	$642M
Cost & Expenses	$4.3B
OPERATING INCOME	$332M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$328M
Income Tax Expense	$73M
Net Income from Continuing Ops	$255M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$44M
EBIT	$331M
EBITDA	$374M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$255M
Depreciation & Amortization	$44M
Stock-Based Compensation	$18M
Deferred Income Tax	$2M
Other Non-Cash Items	$7M
Change in Working Capital	-$28M
OPERATING CASH FLOW	$298M
Capital Expenditure	-$10M
Acquisitions (Net)	$4M
Purchases of Investments	-$54M
Sales/Maturities of Investments	$52M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$8M
Net Debt Issuance	-$30M
Common Stock Repurchased	-$208M
Common Dividends Paid	-$89M
Other Financing Activities	-$5M
NET CASH FROM FINANCING	-$331M
FREE CASH FLOW	$288M
Net Change in Cash	-$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$200M
Short-Term Investments	$40M
Net Receivables	$715M
Inventory	$0
Other Current Assets	$16M
TOTAL CURRENT ASSETS	$971M
PP&E (Net)	$284M
Goodwill	$38M
Intangible Assets	$0
Long-Term Investments	-$40M
Tax Assets	$40M
Other Non-Current Assets	$87M
TOTAL NON-CURRENT ASSETS	$409M
TOTAL ASSETS	$1.4B
Account Payables	$314M
Short-Term Debt	$99M
Deferred Revenue	$29M
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$536M
Long-Term Debt	$0
Deferred Revenue NC	-$40M
Deferred Tax Liabilities	$40M
Other Non-Current Liabilities	$156M
TOTAL NON-CURRENT LIABILITIES	$156M
TOTAL LIABILITIES	$691M
Common Stock	$679.0K
Additional Paid-In Capital	$227M
Retained Earnings	$1.8B
Treasury Stock	-$1.4B
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$687M
Minority Interest	$2M
TOTAL EQUITY	$689M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$184M
Net Debt	-$16M