Landstar

Landstar says ‘muted peak season’ weighs on Q4 guidance

Landstar System pointed to the expectation of a “muted peak season” as the reason for its worse-than-expected fourth-quarter guidance. The Jacksonville, Florida-based freight broker reported third-quarter earnings per share of $1.41 after the market closed Tuesday. The result was 4 cents worse than the consensus estimate and at the low end its prior $1.35 to $1.55 guidance range.

A lower tax rate compared to the year-ago quarter was a 4-cent tailwind in the period.

Landstar’s (NASDAQ: LSTR)...

https://www.freightwaves.com/news/landstar-says-muted-peak-season-will-weigh-on-q4

Landstar Q3 earnings: First look

Freight broker Landstar System missed third-quarter expectations Tuesday after the market closed. Earnings per share of $1.41 were 4 cents below the consensus estimate and at the low end of management’s guidance range of $1.35 to $1.55.

Revenue of $1.21 billion was slightly below consensus but within the company’s forecast range of $1.175 billion to $1.275 billion.

Total loads hauled by truck were 7.7% lower year over year, in line with guidance for a 10% to 6% decline. Revenue per load was up...

https://www.freightwaves.com/news/landstar-q3-earnings-first-look

Victory for a 3PL again–TQL–in case involving broker liability 

Another brokerage company has won a court battle holding that a 3PL is not liable for an accident that involved a carrier the company hired to move freight.

TQL, the logistics company in the case, was heard by the 11th Circuit Court of Appeals. A three-judge panel unanimously held last week that TQL could not be held liable for a fatal accident on a Georgia road in 2020.

Katia Gauthier, the widow of Peter Gauthier who was killed in the accident, originally filed suit against the carrier, Hard to...

https://www.freightwaves.com/news/victory-for-a-3pl-again-tql-in-case-involving-broker-liability

Landstar still waiting for break in freight recession

Broker Landstar System said it’s readying for an inflection, noting largely normal seasonal trends on its first-quarter call. The fact that it isn’t in cost-cutting mode like the asset-based operators is a bit of a reprieve from the carnage this earnings season has delivered. 

The company beat expectations for the first quarter, but its second-quarter guidance was light of consensus.

Landstar (NASDAQ: LSTR) reported earnings per share of $1.32 for the 2024 first quarter, which was 4 cents ahead...

https://www.freightwaves.com/news/landstar-still-waiting-for-break-in-freight-recession

Scopelitis seminar delves into lease purchase deals, M&A, ESG and more

INDIANAPOLIS — The Scopelitis Transportation Law Seminar is a three-day parade of speakers and panels discussing everything from what states’ license plates fleets should seek to slap on their trucks to the treatment of owner-operators whose trucks leave the road for maintenance. The gathering examines hundreds of legal situations fleets might face.

Here are five takeaways from the multitude of subjects the seminar covered.

The growing focus on lease purchase agreements

The ongoing task force...

https://www.freightwaves.com/news/scopelitis-seminar-delves-into-lease-purchase-deals-ma-esg-and-more

Landstar’s Q4 in line; Q1 outlook disappoints

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Freight broker Landstar System’s fourth quarter was largely as expected, but its outlook for the...

https://www.freightwaves.com/news/landstars-q4-in-line-q1-outlook-disappoints

Supreme Court rejects review in broker liability case, leaving the issue unresolved

The Supreme Court has again rejected a review of the question of broker liability in a case involving the death or injury of a person struck by a truck that was booked by a 3PL.

However, unlike the case of Miller v. C.H. Robinson, this rejection is considered a victory for the brokerage industry.

In a long list of denials of certiorari posted Monday, the court without comment said it would not review the appeal brought by Ying Ye, the widow of a man killed in 2017 in an accident in Texas. Ye’s...

https://www.freightwaves.com/news/supreme-court-rejects-review-in-broker-liability-case-leaving-the-issue-unresolved

Landstar CEO Jim Gattoni to retire

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Freight broker Landstar System announced Monday a succession plan for the dual role of president and...

https://www.freightwaves.com/news/landstar-ceo-jim-gattoni-to-retire

Will Supreme Court resolve conflicting rulings on broker liability?

Now the wait begins.

There is no clear timeline for when the U.S. Supreme Court will rule on a review petition filed earlier this month by Ying Ye, the widow of a man killed by a truck that was brokered by GlobalTranz.

The 7th U.S. Circuit Court of Appeals ruled in July that the Federal Aviation Administration Authorization Act (F4A) blocked GlobalTranz from being held liable for the death of Shawn Lin, Ye’s husband. Lin was riding a motorcycle in November 2017 when he collided with a truck...

https://www.freightwaves.com/news/will-supreme-court-resolve-conflicting-rulings-on-broker-liability

Loaded and Rolling: Freight media’s evolving landscape on display at F3

Freight media’s evolving landscape on display at F3

(Photo: Jim Allen/FreightWaves)

The changing freight media landscape was on full display at the F3: Future of Freight Festival last week in Chattanooga Tennessee, as influencers, salespeople, presenters and executives intermingled during and after the events. One topic discussed is the changing way media is being consumed and how traditional legacy media outlets are responding to tech-savvy upstarts. While at the event, I noted that for...

https://www.freightwaves.com/news/loaded-and-rolling-freight-medias-evolving-landscape-on-display-at-f3

+ More