LSTR FY 2019 Earnings Report — Landstar System, Inc. Revenue & Financial Results | Market Cap Arena

Landstar System, Inc.LSTR

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$4.1B	—	$4.6B	—	-11.5%
Op. Income	$299M	—	$332M	—	-9.9%
Gross Margin	21.6%	—	21.1%	—	0.5pp
Net Margin	5.6%	—	5.5%	—	0.0pp
EPS (Diluted)	$5.72	—	$6.18	—	-7.4%
Free Cash Flow	$288M	—	$288M	—	0.1%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.2B
GROSS PROFIT	$882M
R&D Expenses	$0
Selling & Marketing	$342M
General & Administrative	$159M
SG&A Expenses	$501M
Other Expenses	$82M
Operating Expenses	$583M
Cost & Expenses	$3.8B
OPERATING INCOME	$299M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$296M
Income Tax Expense	$68M
Net Income from Continuing Ops	$228M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$228M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$44M
EBIT	$298M
EBITDA	$342M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.2B
GROSS PROFIT	$882M
R&D Expenses	$0
Selling & Marketing	$342M
General & Administrative	$159M
SG&A Expenses	$501M
Other Expenses	$82M
Operating Expenses	$583M
Cost & Expenses	$3.8B
OPERATING INCOME	$299M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$296M
Income Tax Expense	$68M
Net Income from Continuing Ops	$228M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$228M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$44M
EBIT	$298M
EBITDA	$342M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$228M
Depreciation & Amortization	$44M
Stock-Based Compensation	$4M
Deferred Income Tax	$5M
Other Non-Cash Items	$9M
Change in Working Capital	$18M
OPERATING CASH FLOW	$308M
Capital Expenditure	-$19M
Acquisitions (Net)	$0
Purchases of Investments	-$66M
Sales/Maturities of Investments	$63M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$19M
Net Debt Issuance	-$46M
Common Stock Repurchased	-$89M
Common Dividends Paid	-$28M
Other Financing Activities	-$8M
NET CASH FROM FINANCING	-$171M
FREE CASH FLOW	$288M
Net Change in Cash	$120M

Balance Sheet

Item	Amount
Cash & Equivalents	$320M
Short-Term Investments	$33M
Net Receivables	$624M
Inventory	$0
Other Current Assets	$21M
TOTAL CURRENT ASSETS	$998M
PP&E (Net)	$289M
Goodwill	$39M
Intangible Assets	$0
Long-Term Investments	$85M
Tax Assets	$0
Other Non-Current Assets	$18M
TOTAL NON-CURRENT ASSETS	$430M
TOTAL ASSETS	$1.4B
Account Payables	$272M
Short-Term Debt	$97M
Deferred Revenue	$0
Other Current Liabilities	$174M
TOTAL CURRENT LIABILITIES	$553M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$81M
TOTAL NON-CURRENT LIABILITIES	$153M
TOTAL LIABILITIES	$706M
Common Stock	$681.0K
Additional Paid-In Capital	$226M
Retained Earnings	$2.0B
Treasury Stock	-$1.5B
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$721M
Minority Interest	$0
TOTAL EQUITY	$721M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$169M
Net Debt	-$150M