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Morningstar•July 29, 2022
Morningstar•July 29, 2022Landstar System, Inc.: Landstar's Growth Moderates as TL Spot Conditions Soften, but Firm Performing as Expected
Summary
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 warehou
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Analyst Profile
Matthew Young
Equity AnalystMatthew Young, CFA, is an equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers transportation and logistics firms.Before joining Morningstar in 2010, Young spent five years as an equity research associate at William Blair, where he covered logistics and commercial-services firms.Young holds a bachelor's degree from Wheaton College and a master's degree in business administration, with concentrations in finance and accounting, from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation.