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Q1 Earnings Highlights: Landstar (NASDAQ:LSTR) Vs The Rest Of The Ground Transportation Stocks


Anthony Lee /
2024/07/10 4:53 am EDT

Earnings results often indicate what direction a company will take in the months ahead. With Q1 now behind us, let’s have a look at Landstar (NASDAQ:LSTR) and its peers.

The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.

The 14 ground transportation stocks we track reported an ok Q1; on average, revenues beat analyst consensus estimates by 1%. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and while some of the ground transportation stocks have fared somewhat better than others, they collectively declined, with share prices falling 0.2% on average since the previous earnings results.

Landstar (NASDAQ:LSTR)

Founded in 1968, Landstar (NASDAQ:LSTR) is a transportation services company providing integrated logistics.

Landstar reported revenues of $1.17 billion, down 18.3% year on year, exceeding analysts' expectations by 4.7%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts' Van Equipment revenue estimates and a decent beat of analysts' earnings estimates.

“It’s been a privilege to join Landstar and work alongside our customers, independent agents, BCOs, employees and the Board. The Landstar team performed admirably in a challenging freight environment as both the number of loads hauled via truck and revenue per load on loads hauled via truck exceeded the high-end of the Company’s guidance issued in our 2023 fourth quarter earnings release,” said Landstar President and Chief Executive Officer Frank Lonegro.

Landstar Total Revenue

The stock is up 4.4% since reporting and currently trades at $178.22.

Is now the time to buy Landstar? Access our full analysis of the earnings results here, it's free.

Best Q1: Universal Logistics (NASDAQ:ULH)

Founded in 1932, Universal Logistics (NASDAQ:ULH) is a provider of transportation and logistics solutions.

Universal Logistics reported revenues of $491.9 million, up 12.5% year on year, outperforming analysts' expectations by 18.1%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.

Universal Logistics Total Revenue

Universal Logistics achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 19.4% since reporting. It currently trades at $39.01.

Is now the time to buy Universal Logistics? Access our full analysis of the earnings results here, it's free.

Weakest Q1: U-Haul (NYSE:UHAL)

Started in a garage, U-Haul (NYSE:UHAL) provides rental trucks and storage facilities for individuals and businesses seeking moving solutions.

U-Haul reported revenues of $1.10 billion, down 7.8% year on year, falling short of analysts' expectations by 6.1%. It was a weak quarter for the company with a miss of analysts' earnings estimates.

U-Haul posted the weakest performance against analyst estimates in the group. As expected, the stock is down 1.5% since the results and currently trades at $61.89.

Read our full analysis of U-Haul's results here.

ArcBest (NASDAQ:ARCB)

Originally named Arkansas Best, ArcBest (NASDAQ:ARCB) provides transportation and logistics solutions, specializing in less-than-truckload shipping and supply chain services.

ArcBest reported revenues of $1.04 billion, down 6.3% year on year, in line with analysts' expectations. Looking more broadly, it was a weaker quarter for the company with a miss of analysts' earnings estimates.

The stock is down 18.8% since reporting and currently trades at $105.

Read our full, actionable report on ArcBest here, it's free.

Schneider National (NYSE:SNDR)

Established after the founder sold the family car, Schneider National (NYSE:SNDR) is a transportation and logistics company offering a portfolio of truckload, intermodal, and logistics solutions.

Schneider National reported revenues of $1.32 billion, down 7.7% year on year, falling short of analysts' expectations by 1.9%. Looking more broadly, it was a weak quarter for the company with a miss of analysts' earnings and Logistics revenue estimates.

The stock is up 8.6% since reporting and currently trades at $22.89.

Read our full, actionable report on Schneider National here, it's free.

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