Accident claims weigh on Landstar’s Q4
Freight broker Landstar System said strength in flatbed demand largely offset a still soft dry van truckload market during the fourth quarter. However, revenue per load trends outpaced typical seasonality in December and so far in January. Landstar (NASDAQ: LSTR) reported adjusted fourth-quarter earnings per share of 75 cents after the market closed on Wednesday. The result was 56 cents worse year over year. The number included $22 million (49 cents per share) in unfavorable claims activity from separate ...