Landstar makes gains

    April 19, 2002
    Trucking conglomerate Landstar System said its net income increased slightly in the first quarter of 2002, despite having higher expenses and a larger fleet when compared to the same period last year. Jacksonville, FL-based Landstar said net income topped $8.5 million in this quarter, up from net income of $8.4 million in the first quarter of 2001. Revenue topped $336 million, compared to $331 million
    Trucking conglomerate Landstar System said its net income increased slightly in the first quarter of 2002, despite having higher expenses and a larger fleet when compared to the same period last year.

    Jacksonville, FL-based Landstar said net income topped $8.5 million in this quarter, up from net income of $8.4 million in the first quarter of 2001. Revenue topped $336 million, compared to $331 million for the same quarter last year. Landstar's truckload carrier group generated $270 million in revenues this quarter, compared to $263 million last year, with its multimodal services group making $59 million compared to revenues of $62 million in the first quarter of 2001.

    Chairman & CEO Jeff Crowe said freight demand was relatively soft in the first two months of the first quarter, but business levels strengthened in March. He said the company ended the first quarter of 2002 with 8,814 trucks – 35 more than at the end of 2001 and 234 more compared to the first quarter of 2001. Crowe added that he expects Landstar to have 200 to 300 trucks by the end of this year.

    About the Author

    Sean Kilcarr | Editor in Chief

    Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

     

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Continue Reading

    Sponsored Recommendations

    Downtime is expensive. This guide shows you how to keep your eet running, reduce repair surprises, and protect your margins—because when your trucks aren’t moving, you’re not...
    Learn how fast oil changes can optimize vehicle downtime for fleet owners. Improve revenue and employee productivity while ensuring customer satisfaction with efficient maintenance...
    Unlock proven strategies to streamline operations, lead your team, and keep your eet moving forward – all in one guide.
    Commercial fleets bear a heavy burden from economic uncertainty, operational costs, and litigation risks. In-cabin video technology offers opportunities to reduce fleet expenses...