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Logistics firm Landstar System's Q3 revenue rises 25%, beats estimates

By Reuters News


Overview

  • US freight logistics firm's Q3 revenue rose 25% yr/yr, beating analyst expectations

  • Q3 EPS rose 154% yr/yr, impacted by higher insurance and claim costs

  • Company repurchased 232,645 shares for $41.4 mln during the quarter


Outlook

  • Landstar did not provide specific financial guidance for the current quarter or full year in its press release


Result Drivers

  • TRUCK REVENUE GROWTH - Truck revenue rose 29% yr/yr, with van and platform equipment revenue each up over 30%, per CEO Frank Lonegro

  • HIGHER INSURANCE AND CLAIM COSTS - Q3 results were negatively impacted by elevated insurance and claim costs, including adverse actuarial adjustments and prior year settlements

  • INCREASED BUSINESS CAPACITY OWNERS - Net addition of 165 Business Capacity Owner trucks marked the strongest quarterly improvement since Q3 2021, according to CEO Frank Lonegro


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.51 bln

$1.47 bln (14 Analysts)

Q3 EPS

$1.42

Q3 Dividend

$0.44

Q3 Gross Profit

$127 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the ground freight & logistics peer group is "buy."

  • Wall Street's median 12-month price target for Landstar System, Inc. is $190.00, about 15% above its October 26 closing price of $165.17

  • The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 33 three months ago


Reuters Recommended Reads

  • Oct 27 - Truck maker Paccar Q3 revenue beats on parts, financial services growth

  • Oct 27 - UPS Q3 revenue rises 6.7%, lifts 2026 outlook

  • Oct 27 - US consumer confidence improves in October


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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