Landstar System

Freight broker Landstar System reported a messy first quarter, dragged down by insurance costs, fraud and stolen cargo.

Broker Landstar System has delayed its first-quarter report as it further investigates what it says was fraud tied to an independent agent working under its freight forwarding operation.

Investors have responded to the revelation, disclosed in a late Wednesday 8-K filing, with Landstar’s stock taking a hit over the past 24 hours.

Susquehanna Financial Group lowered its earnings forecasts for the truckload, intermodal and logistics companies it follows.

Landstar System sees the truckload market as still in a transition period.

Landstar System missed fourth-quarter consensus on Wednesday and issued first-quarter guidance well shy of expectations.

Freight broker Landstar System shared some signs of market stabilization with analysts on a Tuesday call but said it’s still too soon to say the market has turned.

Broker Landstar System beat second-quarter estimates Tuesday as the period ended a two-year streak of sequential revenue declines.

Broker Landstar System’s first quarter showed the year-over-year declines are lessening while the trucking industry awaits an inflection to a prolonged freight recession.

Broker Landstar System has added two top sales positions following its CEO transition.

Landstar System said Thursday that a recovery won’t likely occur until summer.

Broker Landstar System announced Monday after the market closed that its CEO Jim Gattoni will be stepping down early next year.

Trucking industry leaders said at an investor conference that the weak truckload fundamentals seen in the third quarter have continued through the fourth.

Freight broker Landstar System told analysts on a Thursday call that it expects the current freight downturn to last eight quarters, not six as previously hoped.

Truck broker Landstar issued worse-than-expected third-quarter guidance Thursday and said most metrics are still underperforming normal seasonal trends.

Two completely different approaches taken by two different circuit courts over broker liability could result in another trip to the Supreme Court on the issue.

3PL RXO has had its outlook dropped to stable by S&P, but its debt rating held steady.

Freight broker Landstar cut its second-quarter revenue and earnings guidance as volumes and revenue per load were worse than expected halfway through the period.

Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.

The potential widening of broker liability in the Miller case against C.H. Robinson is creating fears among 3PLs, but attorneys see a potential reversal.

Freight broker Landstar System sees a rocky road in the first half of 2023, with normal seasonality returning by summer.

RXO, spun off Nov. 1, released its third-quarter earnings to the SEC for its first stand-alone numbers.

Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.

Broker Landstar System missed second-quarter expectations but noted pricing metrics are holding firm.

Freight broker Landstar System announces another change at CFO.

Es el tercer jefe de finanzas en año y medio

Management from Landstar System is predicting “another great year” even as spot market fundamentals loosen.

Venerable index gets shellacked as freight issues fall hard.

The company says its U.S.-based agency with eastern Ukraine operations faces severe disruptions due to fighting in the region.

Freight broker Landstar closes 2021 with another beat-and-raise quarter. Demand has yet to buck normal seasonal trends, indicating the first quarter will be strong as well.

Truck broker Landstar System announced Wednesday it will use 2021’s record performance to pay shareholders a $2-per-share special dividend.

Landstar reports record third-quarter results and calls for a similar performance in the fourth and potentially beyond.

An analyst surmises that Amazon was the other part of the love triangle.

The research firm of Evercore ISI launched coverage of the 3PL sector with an enormous report.

Private equity takeout allows Echo Global Logistics’ equity value to rise to that of its peers. Management believes its new affiliation with deeper pockets opens up bigger M&A opportunities.

Truck broker Landstar System points to better-than-expected truck volumes and yield trends in the third quarter as reasons to raise its outlook.

Freight broker Landstar System sees continued strength in consumer spending push freight demand higher during the second quarter. The company posted its best quarterly results ever Wednesday after the market close.

Truck broker Landstar System raises its second-quarter guidance as shipments and pricing outpace its initial outlook.

First-quarter earnings reports from truckload carriers highlight a booming freight market. A strong consumer, tight truck capacity and elevated rates appear the likely dynamics for the remainder of the year.

Broker Landstar System blew out analysts’ expectations for the first quarter. The company’s earnings almost doubled from the year-ago quarter, which wasn’t materially impacted by COVID. Landstar’s new guidance calls for more of the same.

In today’s edition of The Daily Dash, Landstar sees a cooling freight market in the second half of 2021. Plus, the Biden administration may consider regulating driver detention, and Werner sells its freight forwarding business.

Truck broker Landstar System expects high demand and elevated truckload rates to carry through the first quarter of the year. However, the company’s CEO has a bit of a contrarian “pessimistic” view for the second half.

Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.

Landstar System announced after the market close on Wednesday what it would do with cash on the balance sheet. The company plans to pay a one-time special dividend of $2 per share in January.

Most companies have women now, but a second rule would deal with diversity or sexuality.

Landstar System inches its fourth-quarter expectations higher but cautions that this trucking cycle may not be different from those in the past.

In today’s edition of The Daily Dash, YRC announces changes, tapping of loan agreement, plus Landstar’s CFO suddenly stepped down and FreightWaves gets ready to kick off the two-day LIVE @HOME virtual event.

Landstar System announced that its CFO was stepping down immediately. President and CEO Jim Gattoni will act as the company’s CFO on an interim basis until a replacement is found.

In today’s edition of The Daily Dash, Landstar is the latest carrier to predict a strong fourth quarter. M&A activity could be hitting the brakes and a truck driver is charged for driving into a crowd of protesters.

Management from truck broker Landstar sees no near-term letup in tight truck market fundamentals. The company’s fourth-quarter guidance brackets its EPS record set in the fourth quarter of 2018.

Truck broker Landstar System handily beats its guidance, which was raised in early September. The company posted its second-best third quarter ever.

In today’s edition of The Daily Dash, a potential TRATON-Navistar tie-up moves closer to a conclusion, plus carriers still hold an upper hand in rate negotiations and early earnings results are not what people expected.

Landstar System announces the opening of a new driver center for its independent owner-operators in Carnesville, Georgia. The 8,000-square-foot facility provides classrooms, a business center, laundry, showers and break rooms.

Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.

Carriers, logistics businesses and technology providers make the cut in 2020.

With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.

Landstar System raises earnings outlook on higher truck volumes and pricing improvements. New third-quarter expectations are 25% higher than the midpoint of the previous guidance range.

No one knows how long freight will continue to break new records; only time will tell.

In today’s edition of The Daily Dash, fleets looking for excess insurance coverage are paying top dollar; Landstar projects a strong Q3; and Waymo will test autonomous vehicles in the last mile.

Landstar’s earnings call outlines the company’s better-than-expected guidance.

Landstar misses estimates in its second-quarter report, which included bonus payments to workers during the pandemic. New guidance better than expected.

Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.

Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.

Tyson Foods plans to pay drivers and essential personnel $60 million in “thank you” bonuses for service during the pandemic.

Long-haul truckers practice social distancing by staying in their sleeper berths, uncertain where their next load will come from as manufacturers and retailers shut down.

XPO increases paid sick leave by two weeks for employees affected by the coronavirus.

BCOs handled 45% of shipments by revenue in the fourth quarter of 2019.

Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.

Market softness, excess capacity, weak demand and soaring insurance costs and claims were the near-term challenges highlighted on Landstar’s conference call.

Landstar’s insurance and claims expense line hit first-quarter results, and another fatal accident results in guidance well below analysts’ expectations.

Landstar’s strong cash flow generation and enviable balance sheet allow it to pay large special dividends even in down market years.

Truckload stocks get an upgrade at Goldman Sachs. Analyst cites “bottoming” fundamentals and the likelihood that the trucking downturn is nearing the midway point as reasons for the upgrade.

The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.

Third quarter 2019 is likely to see another step down in earnings expectations for the year. Equity analysts have been busy lowering estimates on many publicly traded transportation companies.

Landstar System warns on earnings due to a “tragic vehicular accident” and weaker than anticipated market conditions.

Reaction is mixed among stakeholders to hours-of-service rule changes proposed by the Federal Motor Carrier Safety Administration.

Landstar missed the bottom-end of its guidance range as expected. The company sees weakness in truckload fundamentals continuing through the third quarter.

Bascome Majors says contract rates will be under downward pressure for the rest of the year, but spot rates may have already turned up.

The truckload spot market experienced another month of softness in May, confirming recent commentary that normal seasonality isn’t taking shape.

Trucking could get hit “very hard” by an economic recession, ATA warns

Truckload carrier stocks have held up through the last six trading sessions, walking through a couple of potential body blows.

Landstar announced that it may not be able to meet the low-end of its guidance range as truckload spot market fundamentals remain weak.

Landstar’s President and Chief Executive Officer Jim Gattoni said that he is “comfortable” with the current full-year consensus EPS estimate of $6.41.

Landstar System, Inc. reported first quarter earnings per share (EPS) of $1.58, compared to the consensus estimate of $1.51 and $0.21 higher than the 2018 first quarter.

Asset-light transportation manager sees results in-line with expectations, but softer rates coming up ahead.

The investment bank issued a report this morning calling for one more spot rate peak in the fourth quarter, followed by a softer 2019 that should still be 12% above the 2012-7 cycle. New price targets were also issued.

Goldman Sachs issued a report last week highlighting the risks to incumbent brokerages’ margins and market shares, with useful information about the brokerage landscape and recent developments in VC funding that have powered new entrants.

Landstar System, Inc., a worldwide, asset-light provider of integrated transportation management solutions delivering specialized transportation services, today announced it has joined the Blockchain in Transport Alliance (BiTA).