Landstar System’s owner-operator truck count dropped 12% year-over-year in Q3, as high operating costs and low rates persisted, President and CEO Frank Lonegro said on an earnings call Wednesday.
The number of owner-operator trucks leased onto Landstar slid by 153 from the previous quarter to 9,027, amid a significant increase in truck repair costs and lengthy waits for repairs, he said.
The carrier expects a continued decline in Q4 “given the challenging operating environment faced by many owner-operators at a pace somewhat similar to the pace experienced during the third quarter,” Lonegro said.
