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Landstar System Inc LSTR Stock Quote

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Morningstar‘s Stock Analysis LSTR

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Easing Truckload Spot Market Conditions Evident in Landstar's Q3, but Results in Line

Matthew Young, CFA Senior Equity Analyst

Analyst Note

| Matthew Young, CFA |

Wide-moat truck broker Landstar's third-quarter gross revenue grew 5%, which slowed materially relative to 26% year-over-year growth last quarter and 53% in the first quarter. That said, revenue came in slightly ahead of our forecast on noise from rising fuel surcharges. For the firm's core truckload business, total loads were up 1%, while average revenue per load was flat.

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Key Statistics LSTR

Company Profile LSTR

Business Description

Landstar System is an agent based asset-light third-party logistics provider focused on over-the-road truck transportation (92% of revenue). It also offers intermodal (3%) and global air and ocean forwarding (3%). The remainder of its revenue stems from warehousing services and premiums from insurance programs offered to captive owner-operators.

13410 Sutton Park Drive South
Jacksonville, FL, 32224
T +1 904 398-9400
Industry Integrated Freight & Logistics
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 1,399

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