Landstar System, Inc. Named to Fortune 500 List for First Time
May 23 2022 - 11:34AM
Landstar System, Inc. (NASDAQ: LSTR), a worldwide
technology-enabled, asset-light provider of integrated
transportation management solutions delivering safe, specialized
transportation services, announced today that it was named for the
first time to the Fortune 500 list of America’s largest
corporations by revenue. With revenue of approximately $6.5 billion
in fiscal year 2021, an annual record for the company, Landstar
debuted at number 491 on the list.
“The consistent strength and depth of the Landstar network is
what earned the Company this prestigious ranking,” said Landstar
President and CEO Jim Gattoni. “The ability of our independent
agents and employees to scale operations and adjust to the
marketplace, the power of our unique capacity network to execute,
and our innovative digital tools that facilitate efficiency in
freight transportation management combined flawlessly to achieve
remarkable performance.”
The ranking reflects Landstar’s record-setting growth in 2021,
and is also a testament to the Company’s unique, entrepreneurial
business model that has proven successful for decades. Formed in
1988, Landstar provides customers access to high quality, safe
freight transportation services through a network of independent
agents and transportation capacity providers, leading-edge
technology, and dedicated corporate personnel.
Empowering this entrepreneurial drive has earned the trust of
customers and created a long history of financial success. Since
its initial public offering in March 1993, Landstar annual revenue
has increased over 500% and the Company has achieved a total
shareholder return compound annual growth rate through May 20, 2022
of approximately 17%.
“On behalf of Landstar’s leadership team, I congratulate
everyone who has contributed to Landstar’s success. We thank all of
our independent agencies, owner-operators leased to Landstar,
approved third-party carriers, customers and employees who have
helped us accomplish this milestone. Making the Fortune 500 was
truly a team effort,” added Gattoni.
The Fortune 500 annual list, compiled and published by Fortune
magazine since 1955, ranks the largest U.S. companies by total
annual revenue for their respective fiscal years. For the complete
Fortune 500 list, visit www.fortune.com/fortune500.
About Landstar
Landstar System, Inc., a Fortune 500 company, is a worldwide,
technology-enabled, asset-light provider of integrated
transportation management solutions delivering safe, specialized
transportation services to a broad range of customers utilizing a
network of agents, third-party capacity providers and employees.
Landstar transportation services companies are certified to ISO
9001:2015 quality management system standards and RC14001:2015
environmental, health, safety and security management system
standards. Landstar System, Inc. is headquartered in Jacksonville,
Florida. Its common stock trades on The NASDAQ Stock Market® under
the symbol LSTR.
Contact:
Ginger Jewell
Landstar System, Inc.
(904) 390-1457
gjewell@landstar.com
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