Landstar System 10-Q: Revenue $1.17B, EPS $1.16
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Landstar System reported Q1 revenue of $1.17B, a 2% increase year-over-year, with net income rising to $39.44M from $29.81M. Earnings per share were $1.16, up from $0.85. Revenue growth was driven by a 4% increase in revenue per load despite a 3% decline in load volume. Operational efficiency improved, with a variable contribution margin of 14.7%. The company noted a decline in insurance and claims expenses, while focusing on growth through its network of agents and capacity providers.
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