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    Peter Sullivan

    Senior Vice President and Equity Research Analyst at Jefferies

    Peter Sullivan is a Senior Vice President and Equity Research Analyst at Jefferies, specializing in coverage of the industrials sector with a particular focus on railroads, trucking, and logistics companies. He regularly covers and provides investment insights on major publicly traded companies such as Union Pacific, Norfolk Southern, CSX, and Old Dominion Freight Line, earning recognition for accurate calls and sector expertise. Sullivan joined Jefferies in the early 2010s after prior research analyst roles at firms including Credit Suisse, building a consistent record of outperforming sector benchmarks; on TipRanks, his recommendations maintain a success rate above 60% and average returns in line with top-tier sell-side analysts. He holds FINRA Series 7, 63, 86, and 87 licenses and is noted for contributing to multiple award-winning sector reports and participating in industry roundtables.

    Peter Sullivan's questions to LANDSTAR SYSTEM (LSTR) leadership

    Peter Sullivan's questions to LANDSTAR SYSTEM (LSTR) leadership • Q4 2024

    Question

    Peter Sullivan of Jefferies, calling for Stephanie Moore, asked for Landstar's perspective on capital allocation priorities for 2025, focusing on share buybacks, dividends, and potential M&A activity.

    Answer

    CEO Frank Lonegro affirmed Landstar's consistent strategy of a regular, growing dividend and a special dividend, which was recently paid. He described the buyback approach as 'patient and opportunistic,' designed to capitalize on market volatility. On M&A, he stated that the unique nature of Landstar's asset-light model significantly limits the pool of suitable acquisition targets, making a deal unlikely unless a target is a perfect strategic fit.

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