Landstar System
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News
Landstar reports 20% to 30% drop in dispatched loads during April
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…
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News
Landstar saw market deteriorate in last week of quarter, no 2Q guidance
Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.
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News
Tyson Foods paying $60 million to drivers, frontline workers
Tyson Foods plans to pay drivers and essential personnel $60 million in “thank you” bonuses for service during the pandemic.
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Driver issues
Scared drivers press on toward looming freight cliff
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.
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News
XPO increases sick leave in response to COVID-19
XPO increases paid sick leave by two weeks for employees affected by the coronavirus.
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Business
Landstar BCOs will get $1k/week if hit by COVID-19
BCOs handled 45% of shipments by revenue in the fourth quarter of 2019.
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News
Stifel sees decent volumes near term, 2Q in jeopardy
Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.
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News
Landstar still waiting on inflection in demand and capacity (with video)
Market softness, excess capacity, weak demand and soaring insurance costs and claims were the near-term challenges highlighted on Landstar’s conference call.
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News
Insurance, claims drive Landstar earnings miss; deadly accident to impact first quarter (with video)
Landstar’s insurance and claims expense line hit first-quarter results, and another fatal accident results in guidance well below analysts’ expectations.
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News
Landstar ends sour 2019 on high, announces $2 special dividend
Landstar's strong cash flow generation and enviable balance sheet allow it to pay large special dividends even in down market years.
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