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Strong demand drives Landstar System's Q4 2017 earnings to US$64.8m
来源： 编辑：编辑部 发布：2018/02/07 09:07:31
LANDSTAR System reached a new milestone in the fourth quarter of 2017 with net income at a record US$64.8 million on all-time high revenue of $1.05 billion from its asset-light trucking and freight brokerage operations.
Excluding the impact of the change in deferred tax liabilities, the Jacksonville, Florida-based company earned $45.2 million in the last quarter. For the whole of 2017, the company earned $177.1 million on revenue of $3.6 billion. That compares to net income of $137.4 million on revenue of $3.2 billion in 2016.
CEO Jim Gattoni said the number of loads hauled by truck in the fourth quarter hit a record of 1.9 million, reported Transport Topics (ttnews.com).
Truck volume rose across the board, with van shipments up two per cent in the fourth quarter to 339,738, flatbed increasing four per cent to 124,716 and less-than-truckload growing nine per cent to 34,036. Rail intermodal shipments were up two per cent to 12,960, and ocean and air cargo loads jumped by 25.7 per cent to 7,270.
Mr Gattoni said a combination of strong demand and tight capacity resulted in double-digit gains in revenue per load in each of the final three months of the year, and with load growth in the high single-digit range continuing in the first three weeks of January.
"I expect that trend to continue throughout the 2018 first quarter," Mr Gattoni added.
Landstar uses a combination of independent truck owner operators and third-party carriers to haul freight for shippers.