Landstar System said the truck brokerage market has begun to reshape in the wake of the Supreme Court’s broker liability ruling.
Trucking analysts are raising estimates ahead of the second-quarter earnings season, which begins next week.
Industry participants say asset-based carriers are likely the winners following the Supreme Court’s landmark ruling on freight broker liability.
Broker Landstar System said Tuesday that the truckload market is in the early stages of an upcycle, noting revenue per load is trending well ahead of normal seasonal patterns.
Broker Landstar System’s fourth quarter was negatively impacted by one prior and two recent tragic accidents.
Freight broker Landstar System will record several accident-related charges in the fourth quarter.
Truckload broker Landstar System called out some positive catalysts on its third-quarter call with analysts on Tuesday.
TQL is trying to get the Supreme Court to rule on the issue of broker liability after it lost at the Sixth Circuit.
Truck broker Landstar System disclosed the outcome from a Texas jury trial on Wednesday and outlined other likely charges it faces in the third quarter.
Spot broker Landstar System pointed to some positive signs after the market closed on Tuesday but noted that the truckload market largely remains challenging.
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.
