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Landstar System Reports Second Quarter Revenue of $1.211b and Earnings Per Share of $1.20

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Landstar System (NASDAQ:LSTR) reported Q2 2025 financial results with revenue of $1.211 billion and earnings per share of $1.20, compared to $1.225 billion and $1.48 EPS in Q2 2024. The company saw a 3.2% sequential increase in truck revenue per load versus Q1 2025.

Key operational metrics include truck transportation revenue of $1.118 billion (92% of total revenue), with van equipment revenue at $591 million and unsided/platform equipment revenue at $401 million. The company maintained stable BCO truck count and returned capital through share repurchases of $42.4 million and declared a quarterly dividend of $0.40 per share.

Landstar System (NASDAQ:LSTR) ha comunicato i risultati finanziari del secondo trimestre 2025 con un fatturato di 1,211 miliardi di dollari e un utile per azione di 1,20 dollari, rispetto a 1,225 miliardi di dollari e 1,48 dollari per azione nel secondo trimestre 2024. L'azienda ha registrato un aumento sequenziale del 3,2% del ricavo per carico camion rispetto al primo trimestre 2025.

Le principali metriche operative includono un ricavo dal trasporto camion di 1,118 miliardi di dollari (92% del fatturato totale), con ricavi da attrezzature van pari a 591 milioni di dollari e da attrezzature senza sponde/piattaforma pari a 401 milioni di dollari. L'azienda ha mantenuto stabile il numero di camion BCO e ha restituito capitale attraverso riacquisti di azioni per 42,4 milioni di dollari e ha dichiarato un dividendo trimestrale di 0,40 dollari per azione.

Landstar System (NASDAQ:LSTR) report贸 sus resultados financieros del segundo trimestre de 2025 con ingresos de 1.211 mil millones de d贸lares y ganancias por acci贸n de 1,20 d贸lares, en comparaci贸n con 1.225 mil millones y 1,48 d贸lares por acci贸n en el segundo trimestre de 2024. La compa帽铆a experiment贸 un aumento secuencial del 3,2% en los ingresos por carga de camiones respecto al primer trimestre de 2025.

Las m茅tricas operativas clave incluyen ingresos por transporte de camiones de 1.118 mil millones de d贸lares (92% del total de ingresos), con ingresos por equipo tipo van de 591 millones y por equipo sin costados/plataforma de 401 millones. La empresa mantuvo estable la cantidad de camiones BCO y devolvi贸 capital mediante recompras de acciones por 42,4 millones de d贸lares y declar贸 un dividendo trimestral de 0,40 d贸lares por acci贸n.

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Landstar System (NASDAQ:LSTR) a publi茅 ses r茅sultats financiers du deuxi猫me trimestre 2025 avec un chiffre d'affaires de 1,211 milliard de dollars et un b茅n茅fice par action de 1,20 dollar, contre 1,225 milliard et 1,48 dollar par action au deuxi猫me trimestre 2024. La soci茅t茅 a enregistr茅 une augmentation s茅quentielle de 3,2% du revenu par chargement de camion par rapport au premier trimestre 2025.

Les indicateurs op茅rationnels cl茅s incluent un chiffre d'affaires du transport routier de 1,118 milliard de dollars (92 % du chiffre d'affaires total), avec des revenus provenant des 茅quipements fourgon de 591 millions de dollars et des 茅quipements sans c么t茅s/plateforme de 401 millions de dollars. La soci茅t茅 a maintenu un nombre stable de camions BCO et a restitu茅 du capital via des rachats d'actions pour 42,4 millions de dollars et a d茅clar茅 un dividende trimestriel de 0,40 dollar par action.

Landstar System (NASDAQ:LSTR) meldete die Finanzergebnisse f眉r das zweite Quartal 2025 mit einem Umsatz von 1,211 Milliarden US-Dollar und einem Gewinn je Aktie von 1,20 US-Dollar, verglichen mit 1,225 Milliarden US-Dollar und 1,48 US-Dollar pro Aktie im zweiten Quartal 2024. Das Unternehmen verzeichnete einen 3,2%igen sequenziellen Anstieg der Lkw-Ums盲tze pro Ladung gegen眉ber dem ersten Quartal 2025.

Wichtige operative Kennzahlen umfassen einen Lkw-Transportumsatz von 1,118 Milliarden US-Dollar (92 % des Gesamtumsatzes), mit Einnahmen aus Van-Ausr眉stung in H枚he von 591 Millionen US-Dollar und Ums盲tzen aus Ausr眉stung ohne Seitenw盲nde/Plattformen von 401 Millionen US-Dollar. Das Unternehmen hielt die Anzahl der BCO-Lkw stabil und gab Kapital durch Aktienr眉ckk盲ufe in H枚he von 42,4 Millionen US-Dollar zur眉ck sowie erkl盲rte eine viertelj盲hrliche Dividende von 0,40 US-Dollar pro Aktie.

Positive
  • 3.2% sequential increase in truck revenue per load from Q1 2025
  • Strong balance sheet with $426 million in cash and short-term investments
  • 17% return on average shareholders' equity
  • Stable BCO truck count, best performance since Q2 2022
  • Continued capital return through $42.4M in share repurchases and $0.40 quarterly dividend
Negative
  • Revenue decreased 1.1% year-over-year to $1.211B from $1.225B
  • EPS declined 19% to $1.20 from $1.48 year-over-year
  • Operating income dropped 17.3% to $56.28M from $68.06M
  • Gross profit decreased 8.9% to $109.26M from $119.99M
  • Total truck loads declined 1.5% compared to Q2 2024

Insights

Landstar reports mixed Q2 results with EPS declining 19% YoY to $1.20 amid challenging freight environment, though showing sequential improvement.

Landstar System reported $1.211 billion in Q2 2025 revenue, representing a slight 1.1% year-over-year decline from $1.225 billion in Q2 2024. More concerning is the significant drop in profitability, with earnings per share falling 19% to $1.20 from $1.48 in the same quarter last year. This decline stems primarily from compressed margins, with gross profit decreasing by 8.9% to $109.3 million and operating income falling 17.3% to $56.3 million.

Looking deeper at operational metrics, we see some interesting trends developing. Truck transportation, comprising 92% of total revenue, actually increased 1.1% year-over-year to $1.118 billion. This growth was driven by a 2.6% increase in truck revenue per load, partially offset by a 1.5% decrease in load volume. Particularly notable is the 5.2% growth in unsided/platform equipment revenue to $401 million and the 29.6% increase in other truck transportation (primarily power-only services) to $101 million.

However, these gains were counterbalanced by weakness in van equipment revenue (down 4.5% to $591 million) and a sharp 22.3% decline in revenue from rail, air, and ocean cargo carriers to $73 million. The company also faced pressure from rising insurance and claims costs, which increased despite the overall revenue decline.

From a capital allocation perspective, Landstar continues to return significant cash to shareholders. During Q2, the company repurchased 300,141 shares at an aggregate cost of $42.4 million and declared a quarterly dividend of $0.40 per share, representing a 21.2% increase from the $0.33 dividend in Q2 2024. With $426 million in cash and short-term investments, Landstar maintains a strong balance sheet while delivering a trailing twelve-month return on equity of 17%.

CEO Frank Lonegro highlighted the sequential improvement in truck revenue per load (up 3.2% from Q1 2025) and the stabilization in BCO truck count as positive developments. However, the overall results reflect the continuing challenges in the freight transportation environment, with margin pressure persisting despite some revenue resilience in key segments.

JACKSONVILLE, Fla., July 29, 2025 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ: LSTR) (鈥淟andstar鈥� or the 鈥淐ompany鈥�) today reported basic and diluted earnings per share (鈥淓PS鈥�) of $1.20 in the 2025 second quarter on revenue of $1.211 billion. 鈥淭he Landstar team of independent business owners and employees performed admirably during the second quarter, highlighted by continuing strong performance by our services hauled by unsided/platform equipment,鈥� said Landstar President and Chief Executive Officer Frank Lonegro. 鈥淚 was encouraged that Landstar achieved a 3.2% sequential increase in truck revenue per load compared to the 2025 first quarter, outperforming typical seasonality. In addition, I was excited to see our net BCO truck count remain essentially flat sequentially, the best performance we鈥檝e seen since the second quarter of 2022. Our network of Landstar BCOs, agents and employees continue to be laser-focused on safety, security and delivering great service to our customers in what continues to be a dynamic and challenging freight transportation environment.鈥�

听2Q 2025听听听听听 2Q 2024听
Revenue$1,211,383听$1,225,005听
Gross profit$109,261听$119,996听
Variable contribution$170,450听$175,131听
Operating income$56,280听$68,059听
Basic and diluted earnings per share$1.20听$1.48听


(1)Dollars above in thousands, except per share amounts.
(2)Please refer to the Consolidated Statements of Income and Reconciliation of Gross Profit to Variable Contribution included below.
听听

Landstar听continues to return capital to stockholders through the Company鈥檚 stock purchase program and dividends. During the 2025 second quarter,听Landstar听purchased 300,141 shares of its common stock at an aggregate cost of听$42.4 million, bringing the total number of common shares purchased during the twenty-six week period ended June 28, 2025, to 686,459 shares at an aggregate cost of approximately $103.3 million. The Company is currently authorized to purchase up to an additional 1,861,522 shares of the Company鈥檚 common stock under its longstanding share purchase program.听 Landstar also announced today that its Board of Directors declared a quarterly dividend of $0.40 per share payable on September 9, 2025, to stockholders of record as of the close of business on August 19, 2025.

Total revenue was $1,211 million in the 2025 second quarter, compared to $1,225 million in the 2024 second quarter. Truck transportation revenue hauled by independent business capacity owners (鈥淏COs鈥�) and truck brokerage carriers in the 2025 second quarter was $1,118 million, or 92% of revenue, compared to $1,106 million, or 90% of revenue, in the 2024 second quarter. Truckload transportation revenue hauled via van equipment in the 2025 second quarter was $591 million, compared to $619 million in the 2024 second quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2025 second quarter was $401 million, compared to $381 million in the 2024 second quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2025 second quarter was $101 million, compared to听$78 million in the 2024 second quarter. Revenue hauled by rail, air and ocean cargo carriers was $73 million, or 6% of revenue, in the 2025 second quarter, compared to $94 million, or 8% of revenue, in the 2024 second quarter.

Truck revenue per load increased 2.6% in the 2025 second quarter as compared to the 2024 second quarter, while the number of loads hauled via truck declined 1.5% over the same period.

Gross profit in the 2025 second quarter was $109 million, and variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2025 second quarter was $170 million. Gross profit in the 2024 second quarter was $120 million, and variable contribution in the 2024 second quarter was $175 million. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin for the 2025 and 2024 second quarters and year-to-date periods are provided in the Company鈥檚 accompanying financial disclosures.

The Company鈥檚 balance sheet continues to be very strong, with cash and short-term investments of approximately $426 million as of June 28, 2025. Trailing听twelve-month听return听on average shareholders鈥� equity was听17%,听and return on invested capital, representing net income divided by the sum of average equity plus average debt, was听16%.听

Landstar will provide a live webcast of its quarterly earnings conference call this afternoon at 4:30 p.m. ET. To access the webcast, visit ; click on 鈥淲ebcasts,鈥� then click on 鈥淟andstar鈥檚 Second Quarter 2025 Earnings Release Conference Call.鈥� A slide presentation to accompany the webcast presentation is also available on Landstar鈥檚 investor relations website at .听

About Landstar:
Landstar System, Inc., is a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market庐 under the symbol LSTR.

Non-GAAP Financial Measures:
In this earnings release and accompanying financial disclosures, the Company provides the following information that may be deemed non-GAAP financial measures: variable contribution and variable contribution margin. The Company believes variable contribution and variable contribution margin are useful measures of the variable costs that we incur at a shipment-by-shipment level attributable to our transportation network of third-party capacity providers and independent agents in order to provide services to our customers. The Company also believes that it is appropriate to present each of the financial measures that may be deemed a non-GAAP financial measure, as referred to above, for the following reasons: (1) disclosure of these matters will allow investors to better understand the underlying trends in the Company鈥檚 financial condition and results of operations; (2) this information will facilitate comparisons by investors of the Company鈥檚 results as compared to the results of peer companies; and (3) management considers this financial information in its decision making.

Forward Looking Statements Disclaimer:
The following is a 鈥渟afe harbor鈥� statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are 鈥渇orward-looking statements.鈥� This press release contains forward-looking statements, such as statements which relate to Landstar鈥檚 business objectives, plans, strategies and expectations. Terms such as 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渆stimates,鈥� 鈥渋ntention,鈥� 鈥渆xpects,鈥� 鈥減lans,鈥� 鈥減redicts,鈥� 鈥渕ay,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渨ill,鈥� the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: decreased demand for transportation services; U.S. trade relationships and potential or imposed tariffs; an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; the impact of the Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company鈥檚 largest such agent by revenue in the 2024 fiscal year; substantial industry competition; disruptions or failures in the Company鈥檚 computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; regulations requiring the purchase and use of zero-emission vehicles; intellectual property; acquisitions and investments; and other operational, financial or legal risks or uncertainties detailed in Landstar鈥檚 Form 10-K for the 2024 fiscal year, described in Part I, Item 1A Risk Factors, Landstar鈥檚 Form 10-Q for the 2025 first quarter, described in Part II, Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

Landstar System, Inc. and Subsidiary
Consolidated Statements of Income
(Dollars in thousands, except per share amounts)
(Unaudited)
听听听听听听听听听听
听听听听听听听听听听
听听听Twenty-Six Weeks Ended听Thirteen Weeks Ended
听听听June 28,听June 29,听June 28,听June 29,
听听听2025听听2024听听2025听听2024听
听听听听听听听听听听
Revenue$2,363,885听$2,396,048听听$1,211,383听$1,225,005听
Investment income听7,327听听7,066听听听3,729听听3,654听
听听听听听听听听听听
Costs and expenses:听听听听听听听
听Purchased transportation听1,839,289听听1,855,579听听听941,411听听950,058听
听Commissions to agents听192,836听听197,098听听听99,522听听99,816听
听Other operating costs, net of gains on asset sales/dispositions听31,424听听28,994听听听19,595听听14,135听
听Insurance and claims听70,301听听53,432听听听30,449听听27,164听
听Selling, general and administrative听117,288听听111,361听听听55,706听听54,939听
听Depreciation and amortization听24,375听听28,630听听听12,149听听14,488听
听听听听听听听听听听
听听Total costs and expenses听2,275,513听听2,275,094听听听1,158,832听听1,160,600听
听听听听听听听听听听
Operating income听95,699听听128,020听听听56,280听听68,059听
Interest and debt expense (income)听539听听(3,286)听听698听听(1,675)
听听听听听听听听听听
Income before income taxes听95,160听听131,306听听听55,582听听69,734听
Income taxes听23,461听听31,586听听听13,689听听17,110听
听听听听听听听听听听
Net income$71,699听$99,720听听$41,893听$52,624听
听听听听听听听听听听
Basic and diluted earnings per share$2.05听$2.79听听$1.20听$1.48听
听听听听听听听听听听
Average basic and diluted shares outstanding听35,037,000听听35,702,000听听听34,870,000听听35,654,000听
听听听听听听听听听听
Dividends per common share$0.76听$0.66听听$0.40听$0.33听
听听听听听听听听听听


Landstar System, Inc. and Subsidiary
Consolidated Balance Sheets
(Dollars in thousands, except per share amounts)
(Unaudited)
听听听听听听听
听听听听听听听
听听听听June 28,听December 28,
听听听听听2025听听听2024听
ASSETS听听听听
Current assets:听听听
听Cash and cash equivalents$359,237听听$515,018听
听Short-term investments听66,935听听听51,619听
听Trade accounts receivable, less allowance听听听
听听of $12,284 and $12,904听717,249听听听683,841听
听Other receivables, including advances to independent听听听
听听contractors, less allowance of $21,995 and $17,812听48,781听听听47,160听
听Other current assets听45,144听听听22,229听
听听Total current assets听1,237,346听听听1,319,867听
听听听听听听听
Operating property, less accumulated depreciation听听听
听听听and amortization of $464,538 and $456,547听287,500听听听311,345听
Goodwill听听41,399听听听40,933听
Other assets听133,399听听听141,166听
Total assets$1,699,644听听$1,813,311听
听听听听听听听
LIABILITIES AND SHAREHOLDERS' EQUITY听听听
Current liabilities:听听听
听Cash overdraft$58,141听听$61,033听
听Accounts payable听401,849听听听383,625听
听Current maturities of long-term debt听30,747听听听33,116听
听Insurance claims听36,797听听听40,511听
听Dividends payable听-听听听70,632听
听Other current liabilities听91,605听听听84,237听
听听Total current liabilities听619,139听听听673,154听
听听听听听听听
Long-term debt, excluding current maturities听54,677听听听69,191听
Insurance claims听73,268听听听62,842听
Deferred income taxes and other non-current liabilities听30,734听听听35,685听
听听听听听听听
Shareholders' equity:听听听
听Common stock, $0.01 par value, authorized 160,000,000听听听
听听shares, issued 68,589,418 and 68,559,269听686听听听686听
听Additional paid-in capital听258,915听听听255,260听
听Retained earnings听2,905,011听听听2,859,916听
听Cost of 33,935,882 and 33,243,196 shares of common听听听
听听stock in treasury听(2,235,622)听听(2,131,413)
听Accumulated other comprehensive loss听(7,164)听听(12,010)
听听Total shareholders' equity听921,826听听听972,439听
Total liabilities and shareholders' equity$1,699,644听听$1,813,311听
听听听听听听听



听Landstar System, Inc. and Subsidiary
听Supplemental Information
听(Unaudited)
听听听听听听听听听听听听听
听听听听听听听听听听听听听
听听听听听Twenty-Six Weeks Ended听听Thirteen Weeks Ended
听听听听听June 28,听June 29,听听June 28,听June 29,
听听听听听听2025听听听2024听听听听2025听听听2024听
Revenue generated through (in thousands):听听听听听听听听听
听听听听听听听听听听听听听
听Truck transportation听听听听听听听听听
听听Truckload:听听听听听听听听听
听听听Van equipment听$1,186,071听听$1,247,244听听听$591,276听听$618,940听
听听听Unsided/platform equipment听听741,270听听听723,995听听听听400,862听听听380,950听
听听Less-than-truckload听听47,749听听听53,707听听听听25,313听听听28,090听
听听Other truck transportation(1)听听192,766听听听149,675听听听听100,687听听听77,709听
听听听Total truck transportation听听2,167,856听听听2,174,621听听听听1,118,138听听听1,105,689听
听Rail intermodal听听39,515听听听45,002听听听听22,028听听听22,307听
听Ocean and air cargo carriers听听116,426听听听125,380听听听听50,789听听听71,306听
听Other(2)听听听听听40,088听听听51,045听听听听20,428听听听25,703听
听听听听听$2,363,885听听$2,396,048听听听$1,211,383听听$1,225,005听
听听听听听听听听听听听听听
听Revenue on loads hauled via BCO Independent Contractors(3)听听听听听听听听听听听听
听听included in total truck transportation听$888,489听听$918,071听听听$461,432听听$465,510听
听听听听听听听听听听听听听
Number of loads:听听听听听听听听听
听听听听听听听听听听听听听
听Truck transportation听听听听听听听听听
听听Truckload:听听听听听听听听听
听听听Van equipment听听572,154听听听599,973听听听听284,091听听听300,959听
听听听Unsided/platform equipment听听246,241听听听244,407听听听听128,996听听听126,460听
听听Less-than-truckload听听76,830听听听82,850听听听听41,250听听听42,617听
听听Other truck transportation(1)听听听听90,185听听听71,440听听听听46,173听听听37,914听
听听听Total truck transportation听听985,410听听听998,670听听听听500,510听听听507,950听
听Rail intermodal听听13,970听听听14,380听听听听7,820听听听7,230听
听Ocean and air cargo carriers听听16,560听听听17,240听听听听7,440听听听8,520听
听听听听听听1,015,940听听听1,030,290听听听听515,770听听听523,700听
听听听听听听听听听听听听听
听Loads hauled via BCO Independent Contractors(3)听听听听听听听听听听听听
听听included in total truck transportation听听398,000听听听422,300听听听听203,930听听听213,560听
听听听听听听听听听听听听听
Revenue per load:听听听听听听听听听
听听听听听听听听听听听听听
听Truck transportation听听听听听听听听听
听听Truckload:听听听听听听听听听
听听听Van equipment听$2,073听听$2,079听听听$2,081听听$2,057听
听听听Unsided/platform equipment听听3,010听听听2,962听听听听3,108听听听3,012听
听听Less-than-truckload听听621听听听648听听听听614听听听659听
听听Other truck transportation(1)听听听听2,137听听听2,095听听听听2,181听听听2,050听
听听听Total truck transportation听听2,200听听听2,178听听听听2,234听听听2,177听
听Rail intermodal听听2,829听听听3,129听听听听2,817听听听3,085听
听Ocean and air cargo carriers听听7,031听听听7,273听听听听6,826听听听8,369听
听听听听听听听听听听听听听
听Revenue period on loads hauled via BCO Independent Contractors(3)听听听听$2,232听听$2,174听听听$2,263听听$2,180听
听听听听听听听听听听听听听
Revenue by capacity type (as a % of total revenue):听听听听听听听听听
听听听听听听听听听听听听听
听Truck capacity providers:听听听听听听听听听
听听BCO Independent Contractors(3)听听听听38%听听38%听听听38%听听38%
听听Truck Brokerage Carriers听听54%听听52%听听听54%听听52%
听Rail intermodal听听2%听听2%听听听2%听听2%
听Ocean and air cargo carriers听听5%听听5%听听听4%听听6%
听Other听听听2%听听2%听听听2%听听2%
听听听听听听听听听听听听听
听听听听听听听听听听听听听
听听听听听听听听听听June 28,听June 29,
听听听听听听听听听听听2025听听听2024听
Truck Capacity Providers:听听听听听听听听听
听听听听听听听听听听听听听
听BCO Independent Contractors(3)听听听听听听听听听听7,844听听听8,385听
听Truck Brokerage Carriers:听听听听听听听听听
听Approved and active(4)听听听听听听听听听听41,842听听听45,382听
听Other approved听听听听听听听27,672听听听25,450听
听听听听听听听听听听听69,514听听听70,832听
听Total available truck capacity providers听听听听听听听77,358听听听79,217听
听听听听听听听听听听听听听
听Trucks provided by BCO Independent Contractors(3)听听听听听听听听听听8,611听听听9,180听
听听听听听听听听听听听听听
听听听听听听听听听听听听听
(1)听Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment.听Power-only refers to shipments where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper听or consignee.
听听听听听听听听听听听听听
(2)听Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by听Landstar Metro.
听听听听听听听听听听听听听
(3)听BCO Independent Contractors are independent contractors who provide truck capacity to the Company under exclusive lease arrangements.
听听听听听听听听听听听听听
(4)听Active refers to Truck Brokerage Carriers who moved at least one load in the 180 days immediately preceding the fiscal quarter end.
听听听听听听听听听听听听听


Landstar System, Inc. and Subsidiary
Reconciliation of Gross Profit to Variable Contribution
(Dollars in thousands)
(Unaudited)
听听听听听听听听听听
听听听Twenty-Six Weeks Ended听Thirteen Weeks Ended
听听听June 28,听June 29,听June 28,听June 29,
听听听听2025听听听2024听听听2025听听听2024听
听听听听听听听听听听
Revenue$2,363,885听听$2,396,048听听$1,211,383听听$1,225,005听
听听听听听听听听听听
Costs of revenue:听听听听听听听
听听Purchased transportation听1,839,289听听听1,855,579听听听941,411听听听950,058听
听听Commissions to agents听192,836听听听197,098听听听99,522听听听99,816听
听听听听听听听听听听
听Variable costs of revenue听2,032,125听听听2,052,677听听听1,040,933听听听1,049,874听
听听听听听听听听听听
听听Trailing equipment depreciation听13,844听听听13,834听听听6,867听听听6,937听
听听Information technology costs(1)听7,609听听听11,986听听听3,934听听听6,182听
听听Insurance-related costs(2)听71,317听听听54,659听听听30,793听听听27,881听
听听Other operating costs听31,424听听听28,994听听听19,595听听听14,135听
听听听听听听听听听听
听Other costs of revenue听124,194听听听109,473听听听61,189听听听55,135听
听听听听听听听听听听
听Total costs of revenue听2,156,319听听听2,162,150听听听1,102,122听听听1,105,009听
听听听听听听听听听听
Gross profit$207,566听听$233,898听听$109,261听听$119,996听
听听听听听听听听听听
Gross profit margin听8.8%听听9.8%听听9.0%听听9.8%
听听听听听听听听听听
听Plus: other costs of revenue听124,194听听听109,473听听听61,189听听听55,135听
听听听听听听听听听听
Variable contribution$331,760听听$343,371听听$170,450听听$175,131听
听听听听听听听听听听
Variable contribution margin听14.0%听听14.3%听听14.1%听听14.3%
听听听听听听听听听听
(1)听Includes costs of revenue incurred related to internally developed software including ASC 350-40 amortization, implementation costs, hosting costs and other support costs utilized to support the Company鈥檚 independent commission sales agents, third party capacity providers, and customers, included as a portion of depreciation and amortization and of selling, general and administrative in the Company's Consolidated Statements of Income.
听听听听听听听听听听
(2)听Primarily includes (i) insurance premiums paid for commercial auto liability, general liability, cargo and other lines of coverage related to the transportation of freight; (ii) the related cost of claims incurred under those programs; and (iii) brokerage commissions and other fees incurred relating to the administration of insurance programs available to BCO Independent Contractors that are reinsured by the Company, which are included in selling, general and administrative in the Company鈥檚 Consolidated Statements of Income.
听听听听听听听听听听


Contact:
Jim Todd
Chief Financial Officer
904-398-9400

FAQ

What was Landstar's (LSTR) earnings per share in Q2 2025?

Landstar reported basic and diluted earnings per share of $1.20 in Q2 2025, down from $1.48 in Q2 2024.

How much revenue did Landstar generate in Q2 2025?

Landstar generated total revenue of $1.211 billion in Q2 2025, slightly down from $1.225 billion in Q2 2024.

What was Landstar's truck transportation revenue in Q2 2025?

Truck transportation revenue was $1.118 billion, representing 92% of total revenue, compared to $1.106 billion in Q2 2024.

How much cash does Landstar have on its balance sheet?

As of June 28, 2025, Landstar had $426 million in cash and short-term investments.

What dividend did Landstar declare for Q2 2025?

Landstar declared a quarterly dividend of $0.40 per share, payable on September 9, 2025, to stockholders of record as of August 19, 2025.

How many shares did Landstar repurchase in Q2 2025?

Landstar purchased 300,141 shares at an aggregate cost of $42.4 million during Q2 2025.
Stock LSTR logo
Landstar Sys Inc

NASDAQ:LSTR

LSTR Rankings

#1809 Ranked by Market Cap
#1720 Ranked by Dividends

LSTR Latest News

Jul 15, 2025
Landstar to Release Second Quarter Results on Tuesday, July 29, 2025
Jul 8, 2025
PureTech Announces Board Change
May 13, 2025
Landstar System Reports First Quarter Revenue of $1.153B and Earnings per Share of $0.85 and Announces 11% Increase to Quarterly Dividend
May 9, 2025
Landstar System to Release First Quarter Results on Tuesday May 13, 2025
Apr 25, 2025
Landstar System to Release First Quarter Results on Tuesday, May 13, 2025

LSTR Latest SEC Filings

Jul 29, 2025
[10-Q] Landstar System Inc Quarterly Earnings Report
Jul 29, 2025
[8-K] Landstar System Inc Reports Material Event

LSTR Stock Data

4.98B
34.58M
1.02%
101.08%
2.95%
Integrated Freight & Logistics
Trucking (no Local)
United States
JACKSONVILLE

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