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HURRICANE IMPACT: Truckload surprisingly good

Published Friday, October 21, 2005

Despite the massive economic shock of hurricanes Katrina and Rita, which most notably led to a severe spike in diesel fuel prices, the initial spate of earnings reports from truckload carriers indicate the segment isn’t suffering financially in the third quarter. In fact, Jacksonville, FL-based Landstar System actually benefited from the Gulf hurricanes, as it reported third quarter revenues of $676 million -- $129.8 million of it related to disaster relief efforts. Its net income was $35.6 million, a 65% jump compared to profits of $21.6 million in the same quarter last year. “Our consolidated ...

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