Landstar System
Transportation services company specializing in logistics
- Nasdaq: LSTR
- DJTA Component
- S&P 400 Component
Area served
Key people
- Diana M. Murphy
- (Chairman of the Board)
- Frank Lonegro
- (President & CEO)
- Jim Todd
- (Vice President & CFO)
- Delivery
- Freight
- Third-party logistics
US$3.65 billion (2017) US$ 243.97 million (2017)Net income
US$177.00 million (2017) US$1.35 billion (2017) US$653.88 million (2017)Number of employees
[2]
Landstar System, Inc. is a transportation services company specializing in logistics and more specifically third-party logistics. Landstar also utilizes an extensive network of more than 11,000 independent owner operators, referred to internally as BCO's (business capacity owners). 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 headquarters are in Jacksonville, Florida.[3] Landstar has been in business since 1968[4] and was incorporated in 1991.[2]
In January 2014, Landstar sold its National Logistics Management (NLM) subsidiary to XPO Logistics for $87m.[5] Using proprietary web-based software to provide management services for customers and carriers, NLM became the largest web-based expediter in North America.[6] In January 2017, Landstar opened its Landstar U.S./Mexico Logistics Service Center in Laredo, Texas.[7]
Business model
Landstar includes over 10,000 owner-operators in the United States, Canada and Mexico. The BCO's (Business Capacity Operators) 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.[8]
Landstar currently offers scholarships and has a nonprofit "benevolence fund" to assist Landstar operators.
References
- ^ "Landstar System". Fortune. Retrieved 2019-02-05.
- ^ a b "US SEC: Form 10-K Landstar System, Inc". U.S. Securities and Exchange Commission. Retrieved August 1, 2018.
- ^ "Landstar System Corporate Office – Corporate Offices & Headquarters". Corporate Offices & Headquarters. 2015-03-11. Retrieved 2017-02-27.
- ^ "Company Overview of Landstar System, Inc". Bloomberg. Retrieved July 29, 2018.
- ^ "XPO Logistics Completes Acquisition of NLM". marketwatch.com. Dec 30, 2013.
- ^ "XPO Logistics Agrees to Acquire NLM". The Wall Street Journal. December 11, 2013.
- ^ "Landstar opens up new U.S.-Mexico cross-border facility". www.logisticsmgmt.com. Retrieved 2018-07-11.
- ^ Landstar System: Success Without Employees - Forbes.com.
External links
- Official website
- Business data for Landstar System:
- SEC filings
- Yahoo!
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