Landstar posts lower 2Q profit

Cybergal

Well-Known Member
#1
Landstar posts lower 2Q profit

Landstar System Inc. on Wednesday, July 15, reported 2009 second-quarter net income of $17.9 million from revenue of $491.2 million. Included in the 2009 second quarter was $2.0 million of costs related to two acquisitions that were completed in the first week of the 2009 third quarter. Net income for the 2008 second quarter was $29.8 million from revenue of $697.7 million.

Revenue in the 26-week period ended June 27 was $960 million compared to $1.306 billion for the 2008 26-week period. Net income was $31.8 million compared to $53.5 million.

Landstar posts lower 2Q profit - CCJ Magazine
 

Sinister

Smartass Emeritus
Supporter
#4
That's true. 2 years ago everyone was hurting. That's how I ended up at ATS. had to go where the freight was, and the big companies had it all, even if it was cheap. Still managed to pay all my bills and tread water for the next year until I could leave.
 

boone315

SPACE TRUCKING
#5
That was then, now look at how Landstar is doing.
Hey Landstar agent, why do you're drivers make hundreds of dollars less per loads out of Alcoa then Mawson & Mawson? I am making $3,300 to truck on load from Massena NY to Jonesboro AR, Landstar truck loaded up beside me is making $2,700 for same stuff going to same spot, I think I just got another $600 for recruiting another driver who is apparently getting ripped off.
 

TNFiremedic

Well-Known Member
#6
Hey Landstar agent, why do you're drivers make hundreds of dollars less per loads out of Alcoa then Mawson & Mawson? I am making $3,300 to truck on load from Massena NY to Jonesboro AR, Landstar truck loaded up beside me is making $2,700 for same stuff going to same spot, I think I just got another $600 for recruiting another driver who is apparently getting ripped off.
Hey boone,

Before you go bashing the second largest trucking company in the nation, you need to do a little thinking. The great thing about being leased on with Landstar is that you're free to make your own decisions. You sign on as a BCO, and you decide on the loads you want to take. You're not accountable to anyone but yourself and the safety department/BCO Utilization. What you make, is entirely up to you. Landstar isn't like your company. There is NO FORCED DISPATCH. If you don't want to take a load, all you have to do is say "no thanks."

When a Ranger agent books a load with ANY of our drivers, they automatically get all of the fuel surcharge. Then they get a large sum out of the linehaul, and Landstar corporate only takes 2%. The landstar agent gets 7% of the remaining 98% of the linehaul. and the BCO gets the rest. If that BCO is only making that on those loads, he only has himself to blame. Depending on where he wants to run, I could keep him busy daily making good money and making it so he's able to meet his bills. Landstar posts the earnings it does because of our team of fantastic drivers with an impeccable safety record and our team of agents who work day and night to see to it our customers are satisfied. We do far more volume than your company could likely ever hope for. Don't hate because we are what we are. Respect because we do what we do! ;)
 

TNFiremedic

Well-Known Member
#8
being with landstar for over 10years I can attest that your percentages are WAY off
Well if you could please tell me what it is, I would be forever grateful, because I'm clearly mis-informed. I don't want to be giving out the wrong information and will correct my post as soon as you let me know. :)
 

gearjammer

jammer
Staff member
Supporter
#9
inway,ranger get 68of 98% express gets 62 of 100% at least I think that is the current cut they keep changing things, what ls and the agents get i no longer have a clue other than a few yrs back the agent contract was rewritten and not to their favor either. of course with all the outsourced loads God knows what the actual gross is anymore, that was why we needed sb 2910 passed which the brokers lobbied successfully to kill as they would have had to actually be honest and reveal what the gross the customer paid was.
if you would have been around when Jeff Crow owned and controlled LS you would readily know how far LS has fallen.
 

TNFiremedic

Well-Known Member
#10
That's good information to know. Thanks for passing it on. I know of Jeff Crow and met him once as a child. My dad came on board LS with ITCO. I've known some great people throughout my dad's career who turned me onto this. I know LS seems to have changed A LOT and I hate to see that, but hopefully it will change for the better as we look toward the future. All I can tell you is, I try to do the best and be the best person I can every day. I'll be fair with you if you're fair with me. Greed is a horrible thing and it affects both truckers and brokers alike. The only thing we can do is find the good folks and stick together.