Landstar System Inc

LSTR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$325.00	Lwlsj	Lzgyhwjf

Landstar Earnings: Operating Conditions Stuck in Slow Lane, but Pricing Has Stabilized

Matthew Young

Jul 31, 2024

Wide-moat truck broker Landstar's second-quarter gross revenue fell 11% year over year, slightly below our expected run rate, mainly on the volume side. The operating backdrop continued to face muted retailer restocking, sluggish industrial end markets, and abundant TL-market capacity, which has been weighing heavily on Landstar's spot volumes and pricing on dry van and flatbed business. Also, shipments the company handles for other logistics providers have normalized off strong levels seen during the capacity crunch.

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