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Source: Landstar closes major Ukraine operation in wake of invasion

Local agency seen as heavy hitter within the company’s system

Mark Solomon
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Landstar shutters Ukranian agency operations (Photo: Jim Allen/FreightWaves)

Landstar System Inc., the giant freight broker and third-party logistics provider with significant exposure to Ukraine, has suspended its operations there in the wake of Russia’s invasion, according to a highly placed source.

Jacksonville, Florida-based Landstar’s (NASDAQ: LSTR) Ukrainian agency is “offline” as of Saturday, the source told FreightWaves.

The agency generates as much as $1.1 billion in annual revenue from its Ukrainian operations, according to the source. That would represent about 15% of the company’s $6.53 billion in fiscal year 2021 revenue. It employs about 400 people, the source said

The impact of the action is material enough for the company to consider submitting an 8-K filing  with the Securities and Exchange Commission, the source said. An 8-K filing is reserved for unusual or extraordinary events that may influence a company’s operations.


In its annual 10-K filing with the SEC, Landstar acknowledged that some of its agencies maintain operations in Ukraine. Landstar executives did not return requests for comment on Saturday.

Landstar operates through thousands of independent sales agents and a network of owner-operator drivers known as Business Capacity Operators. Landstar’s drivers don’t operate under a forced dispatch system and can pick up any loads they want.

Landstar performed strongly during 2021, culminating in a terrific fourth quarter where it set all-time quarterly records for revenue, operating and net income, and diluted earnings per share. In late 2021, the company’s board declared a one-time cash dividend of $2 per share.


8 Comments

  1. sam

    I wish they could close all operations of Landstar. These people are absolute dog water lying double brokering bums. 6.53 billion in 2021!!! How the hell are they doing that well when they are so awful. Stop working with these bozos

    1. joe

      if you don’t like them ,don’t load for them! they are not the largest owner op company in the u.s.because they suck.you are the only one to blame if you can’t make money! i hope you don’t load for them ,it’s more freight for me,

  2. Rusty

    Well Landstar also has over 100 reports for double brokering. If you’re booking freight with Landstar just know it’s being double brokered. However, what is going on in the Ukraine is horrible. Putin is horrible and creating so much pain.

  3. Rosen

    How about they shut down all operations outside the states? Why they need to use cheap, but unqualified workers, who don’t even know the DOT rules?

  6. Landstar agent.

    They also do the same amount in Bosnia. If not more. Majority of growth has been all over seas.
    Uk and Bosnia. They only allow certain agents to do this….. for the cheap labor. However a lot of drivers now are frustrated knowing all of these people are over seas. It’s very hard for the common agent to grow there business or direct business when certain agents can exploit cheap labor.

Comments are closed.

Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.