Yahoo Finance Landstar's (LSTR) Q4 Earnings & Revenues Beat, Rise Y/Y
Landstar System’s LSTR fourth-quarter 2021 earnings of $2.99 per share surpassed the Zacks Consensus Estimate of $2.85. The bottom line surged 48.8% year over year on higher revenues. Revenues of $1,945 million also outperformed the Zacks Consensus Estimate of $1,852.8 million. The top line soared 50% year over year owing to strong performances of the truck transportation, rail intermodal, and ocean and air-cargo carriers segments.
Landstar System, Inc. Price, Consensus and EPS Surprise
Landstar System, Inc. price-consensus-eps-surprise-chart | Landstar System, Inc. Quote
Gross profit came in at $209.8 million in the reported quarter, up 48.1% year over year. Operating income soared 76.2% from the prior-year quarter’s figure to $148.7 million. Total costs and expenses (on a reported basis) increased 48.2% to $1.79 billion.
Total revenues in the truck transportation segment — contributing to 89.7% of the top line — amounted to $1.74 billion, up 45.2% from the year-ago quarter’s figure. Within the truck transportation segment, revenues hauled via van equipment rose 45% to $1.02 billion. Truckload transportation revenues hauled via unsided/platform equipment climbed 40% to $436.7 million.
Less-than-truckload revenues increased 20.3% to $31.9 million. Overall, fourth-quarter truck transportation revenue per load rose 19.1% year over year.
Rail intermodal revenues of $39.4 million increased 21.1% from the figure recorded in fourth-quarter 2020. Revenues in the ocean and air cargo carriers segment surged in excess of 100% year over year to $135.2 million. Other revenues increased 35.1% to $25.56 million.
Liquidity
At the end of the fourth quarter of 2021, Landstar, currently carrying a Zacks Rank #3 (Hold), had cash and cash equivalents of $215.52 million compared with $249.35 million recorded at the end of 2020. Additionally, long-term debt (excluding current maturities) totaled $75.24 million at the end of the December quarter of 2021 compared with $65.36 million at the end of 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q122 Outlook
Landstar anticipates first-quarter 2022 revenues in the range of $1.70-$1.75 billion. The Zacks Consensus Estimate for first-quarter revenues currently stands at $1.61 billion. Earnings per share are estimated in the band of $2.70-$2.80. The Zacks Consensus Estimate for the same is currently pegged at $2.43 per share.
Sectorial Snapshots
Within the broader Transportation sector, J.B. Hunt Transport Services JBHT, United Airlines UAL and Delta Air Lines DAL recently reported fourth-quarter 2021 results.
J.B. Hunt Transport Services reported fourth-quarter 2021 earnings of $2.28 per share, surpassing the Zacks Consensus Estimate of $1.99. The bottom line surged 58.3% year over year on the back of higher revenues across all segments.
JBHT’s operating revenues of $3,497 million also outperformed the Zacks Consensus Estimate of $3,287.8 million. The top line jumped 27.7% year over year. Total operating revenues, excluding fuel surcharges, rose 21.7% year over year.
United Airlines incurred a loss (excluding 39 cents from non-recurring items) of $1.60 per share in the fourth quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.23. The amount of loss narrowed 77.1% year over year.
UAL’s operating revenues of $8,192 million also outperformed the Zacks Consensus Estimate of $7,930.9 million. The top line surged more than 100% year over year, with passenger revenues, accounting for 84% of the top line, having soared 185.4% to $6,878 million.
Delta reported fourth-quarter 2021 earnings (excluding 86 cents from non-recurring items) of 22 cents per share, outpacing the Zacks Consensus Estimate of 15 cents. Earnings came against the year-ago quarter’s loss of $2.53 per share. Strong holiday travel demand and favorable pricing aided the December-quarter results.
DAL’s revenues came in at $9,470 million, beating the Zacks Consensus Estimate of $9,232.1 million and also skyrocketing more than 100% from the year-ago quarter’s figure as people resorted to air travel during the holidays.
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