Landstar System
{{Short description|Transportation services company specializing in logistics}}
{{one source|date=January 2010}}
{{Infobox company
| name = Landstar System, Inc.
| logo = Landstar System logo.svg
| logo_size = 150px
| type = Public
| traded_as = {{ubl|class=nowrap|{{NASDAQ|LSTR}}|DJTA Component|S&P 400 Component}}
| foundation = {{Start date and age|1968}}
| location = Jacksonville, Florida, United States
| area_served = Worldwide
| key_people = {{ubl|class=nowrap
| Diana M. Murphy (chairman of the board)
| Frank Lonegro (president & CEO)
| Jim Todd (vice president & CFO)}}
| industry = Transportation
| products = {{ubl|class=nowrap|Delivery|Freight|Third-party logistics}}
| revenue = {{increase}} US$3.65 billion (2017)
| operating_income = {{increase}} US$ 243.97 million (2017)
| net_income = {{increase}} US$177.00 million (2017)
| assets = {{increase}} US$1.35 billion (2017)
| equity = {{increase}} US$653.88 million (2017)
| num_employees = 1,273{{Cite web|url=http://fortune.com/fortune500/landstar-system/|title=Landstar System|website=Fortune|access-date=2019-02-05}}
| num_employees_year = 2017
| homepage = {{URL|http://www.landstar.com/|landstar.com}}
| footnotes = {{cite web|url=https://www.sec.gov/Archives/edgar/data/853816/000119312518055528/d492493d10k.htm|title=US SEC: Form 10-K Landstar System, Inc.|publisher=U.S. Securities and Exchange Commission|access-date=August 1, 2018}}
}}
Landstar System, Inc. is a transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, and other countries around the world.
History
The company is based in Jacksonville, Florida.{{Cite news|url=https://corporateofficehq.com/landstar-system-corporate-office/|title=Landstar System Corporate Office – Corporate Offices & Headquarters|date=2015-03-11|work=Corporate Offices & Headquarters|access-date=2017-02-27|language=en-US}} Landstar has been in business since 1968{{cite web |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=30675 |title=Company Overview of Landstar System, Inc. |publisher=Bloomberg |access-date=July 29, 2018}} and was incorporated in 1991.
In January 2014, Landstar sold its National Logistics Management (NLM) subsidiary to XPO, Inc. for $87m.{{cite web|url=http://www.marketwatch.com/story/xpo-logistics-completes-acquisition-of-nlm-2013-12-30|title=XPO Logistics Completes Acquisition of NLM|publisher=marketwatch.com|date= Dec 30, 2013}} Using proprietary web-based software to provide management services for customers and carriers, NLM became the largest web-based expediter in North America.{{cite news | url= https://online.wsj.com/article/HUG1749076.html |title=XPO Logistics Agrees to Acquire NLM |publisher=The Wall Street Journal |date=December 11, 2013 }} In January 2017, Landstar opened its Landstar U.S./Mexico Logistics Service Center in Laredo, Texas.{{Cite web|url=https://www.logisticsmgmt.com/article/landstar_opens_up_new_u.s._mexico_cross_border_facility|title=Landstar opens up new U.S.-Mexico cross-border facility|website=www.logisticsmgmt.com|access-date=2018-07-11}}
Business model
Landstar includes over 8,800 owner-operators in the United States, Canada and Mexico. The business capacity operators (BCOs) are not forced to dispatch like traditional trucking companies. Rather, they can choose their own loads. Landstar has agents in the United States and Canada.[https://web.archive.org/web/20070128082620/http://www.forbes.com/business/2006/12/21/best-managed-transportation-biz-cz_07platinum_cs_1221landstarsystem.html Landstar System: Success Without Employees - Forbes.com].
Landstar currently offers scholarships and has a nonprofit "benevolence fund" to assist Landstar operators.
References
{{Reflist}}
External links
- {{Official website|http://www.landstar.com}}
{{Finance links|name = Landstar System|symbol = LSTR|sec_cik = LSTR|yahoo = LSTR|google = LSTR}}
{{Dow Jones Transportation Average}}
{{Trucking industry in the United States}}
{{Jacksonville Corporations}}
{{US logistics}}
{{S&P 400 companies}}
Category:Logistics companies of the United States
Category:Companies in the Dow Jones Transportation Average
Category:Transport companies established in 1968
Category:Companies based in Jacksonville, Florida
Category:Trucking companies of the United States
Category:Companies listed on the Nasdaq
Category:Transportation companies based in Florida
Category:Publicly traded companies based in Jacksonville, Florida
Category:Multinational companies based in Jacksonville
Category:Companies in the S&P 400
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