Freight Broker Landstar System falló las expectativas del cuarto trimestre el miércoles después de que el mercado cerró. La compañía con sede en Jacksonville, Florida, reportó ganancias por acción de $ 1.31, que no alcanzó la estimación de consenso de $ 1.34. El rango de orientación de la gerencia...
https://fullavantenews.com/ganancias-de-landstar-q4-primera-mirada/?lang=es
Freight broker Landstar System missed fourth-quarter expectations Wednesday after the market closed.
The Jacksonville, Florida-based company reported earnings per share of $1.31, which fell short of the $1.34 consensus estimate. Management’s guidance range was $1.25 to $1.45.
Revenue of $1.21 billion was up 0.4% year over year and slightly ahead of the $1.2 billion consensus estimate (in line with management’s forecast of $1.15 billion to $1.25 billion).
Total loads hauled by truck fell 3.4% y/y...
https://www.freightwaves.com/news/landstar-q4-earnings-first-look
BlueGrace Logistics announced it has acquired 3PL peer FreightCenter for an undisclosed sum.
Palm Harbor, Florida-based broker FreightCenter was founded 26 years ago. The non-asset-based transportation provider primarily focuses on less-than-truckload but also connects shippers with a full lineup of truckload, air and ocean freight shipping options.
“We’ve known and respected the team at FreightCenter for over a decade … . This acquisition is the perfect opportunity to enhance the logistics...
https://www.freightwaves.com/news/bluegrace-acquires-fellow-florida-3pl-freightcenter
WASHINGTON — The deadline for complying with major provisions of a rule aimed at protecting trucking companies against unpaid claims from brokers will be pushed back a year despite strong opposition from owner-operators.
In a notice posted Monday, the Federal Motor Carrier Safety Administration confirmed it will extend the deadlines for three provisions in its Broker and Freight Forwarder Financial Responsibility rule. It gave the public 26 days to respond to the planned extension, which it...
https://www.freightwaves.com/news/broker-financial-rule-deadlines-delayed-despite-trucker-opposition
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
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
RXO became the third-largest freight broker in North America on Monday, completing its acquisition of Coyote Logistics from UPS.
The combination gives RXO (NYSE: RXO) a $7 billion top line with multiple growth opportunities. It adds new power lanes and expands density on existing lanes. Coyote has a large presence in the food and beverage vertical and will continue to support UPS (NYSE: UPS) with transportation services through 2030.
The deal brings little customer overlap as RXO has...
https://www.freightwaves.com/news/rxo-completes-1-025b-acquisition-of-coyote-logistics
Management from Landstar System said Tuesday that truckload rates appear to have stabilized and may be recovering. It reported weaker-than-normal volumes for July but said increases in revenue per load are outpacing typical seasonal patterns.
The Jacksonville, Florida-based freight broker said it normally sees a 4% decline in loads per workday from June to July but that this year’s change rate has been 300 basis points worse than normal. However, revenue per load typically improves just 2%...
https://www.freightwaves.com/news/landstar-sees-stabilizing-trends-still-awaiting-tl-market-turn
Transfix announced Wednesday the sale of its brokerage unit to NFI. Transfix will now focus solely on its transportation software and data offerings.
No financial details were provided, but Transfix said its remaining SaaS business will continue to cater to brokers, shippers and carriers. It also announced that NFI will be the first third-party customer of its proprietary TMS: Transfix Intelligent Freight Platform.
Camden, New Jersey-based NFI generates more $3.5 billion in annual revenue from a...
https://www.freightwaves.com/news/transfix-sells-brokerage-unit-to-nfi
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