Management at freight broker Landstar System said the market continues to stay soft and that a positive inflection likely won’t occur until the end of this year at the earliest.
“I would not declare bottom yet,” Jim Gattoni, president and CEO, told analysts on a Thursday morning call. He said if normal cycle durations hold, the market would start to tighten by late 2023 or early 2024, but he noted it will take better consumer demand before a recovery is realized.
Landstar (NASDAQ: LSTR) reported...
https://www.freightwaves.com/news/landstar-not-ready-to-call-market-bottom