LANDSTAR SYSTEM INC

(NASDAQ: LSTR)
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60.17 Up +0.33 +0.55%
COMPANY ADDRESS
LANDSTAR SYSTEM INC
13410 Sutton Park Drive South
Jacksonville, FL 32224
USA - Map
Phone: +1 904 398-9400
Website
COMPANY INFORMATION
Exchange: NASDAQ national market
Stock: Landstar System, Inc.
Industry: Integrated Shipping & Logistics
Employees: 1,217
DESCRIPTION
Landstar System, Inc. was incorporated in January 1991 under the laws of the State of Delaware. The Company is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise-wide solutions to manage all of a customer’s transportation and logistics needs. It provides services principally throughout the United States and to a lesser extent in Canada and between the United States and Canada, Mexico and other countries around the world. The Company markets its integrated transportation management solutions primarily through independent commission sales agents and exclusively utilizes third party capacity providers to transport and store customers’ freight. Its segments include the transportation logistics segment and the insurance segment. The transportation logistics segment provides integrated transportation management solutions. Transportation services offered by the Company include truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, project cargo and customs brokerage. Transportation management solutions offered by the Company may include integrated multimodal solutions and warehousing. Industries serviced by the transportation logistics segment include automotive products, lumber and building products, metals, chemicals, foodstuffs, heavy machinery, retail, electronics, ammunition and explosives and military equipment. In addition, the transportation logistics segment provides transportation services to other transportation companies, including logistics and less-than-truckload service providers. The transportation logistics segment’s truck transportation services include a full array of truckload transportation for a wide range of commodities, much of which are transported over irregular or non-repetitive routes, and, to a lesser degree, less-than-truckload transportation services. The transportation logistics segment has contracts with Class 1 domestic and Canadian railroads, certain short-line railroads and most major asset-based intermodal equipment providers, including agreements with stacktrain operators and container and trailing equipment companies. The transportation logistics segment provides domestic and international air services and international ocean services to its customers. The transportation logistics segment also offers warehousing solutions that provide customers with nationwide access to available warehouse capacity utilizing a network of independently owned and operated regional warehouse facilities. The insurance segment is comprised of Signature, a wholly owned offshore insurance subsidiary, and RMCS. This segment provides risk and claims management services to certain of the Company’s Operating Subsidiaries. In addition, it reinsures certain risks of the Company’s BCO Independent Contractors and provides certain property and casualty insurance directly to certain of its Operating Subsidiaries. The Company’s customer base is highly diversified and dispersed across many industries, commodities and geographic regions. The Company competes primarily in the transportation and logistics services industry with truckload carriers, third party logistics companies, intermodal transportation and logistics service providers, railroads, less-than-truckload carriers and other asset-light transportation and logistics service providers.
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Financial data in US dollars | Page generated 12:23 AM ET
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