Earnings
Landstar Stock Plunges 17% As Insurance Claims Costs Swallow A 25% Revenue Surge
Revenue rose 25% in the third quarter, but a jump in claims costs cut the gross margin to 8.4% from 9.2%.
LSTR
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Earnings
Landstar CEO Rules Out Big Brokerage Purchase, Favors 'Little M&A' To Win Agents
Frank Lonegro says Landstar will not compete with its own agents, while CFO Jim Todd sees a possible $100 million lift from agent revenue.
Earnings
Landstar CFO Calls $35 Million A Quarter In Insurance Costs 'Too Light' After $22 Million Hit
Jim Todd said $55 million a quarter probably feels too heavy, as Landstar stops guiding on insurance and claims.
Earnings
Landstar Third-Quarter EPS Jumps 154% To $1.42, But Insurance Costs Climb To $55.3 Million
Truck revenue rose 29% and the freight network added 165 net owner-operator trucks, while claims costs ate into the quarter.