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 reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

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