LSTR
Landstar System, Inc.144.57
-1.78-1.22%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
5.01BP/E (TTM)
37.07Basic EPS (TTM)
3.90Dividend Yield
0.01%Recent Filings
8-K
10-Q
Q3 FY2025 results
Landstar's Q3 FY2025 revenue dipped less than 1% y/y to $1.21B, with loads flat but truck brokerage margins tightening slightly amid softer van demand. Operating income plunged 58% y/y to $26.3M on a $30.1M non-cash impairment charge from impairments to Mexican subsidiary assets, software, and an equity investment, while insurance and claims rose 9% y/y due to $9.2M in prior-year unfavorable development from cargo losses and trucking claims. Gross margin held at 9.2%, but EPS fell to $0.56 from $1.41, consistent with 34.6M diluted shares. Cash fell to $375M with $152M YTD operating cash flow, no revolver draws on $300M facility, and $77M in finance leases; free cash flow not disclosed in the 10-Q. Yet impairments mask steady network execution. Competition from larger logistics players pressures pricing.
8-K
Q3 revenue dips, impairments sting
Landstar System reported Q3 2025 revenue of $1.205 billion, down 0.7% from $1.214 billion last year, with EPS at $0.56 versus $1.41, hammered by $30.1 million in non-cash impairment charges that slashed profits. Excluding those hits, adjusted EPS lands at $1.22, while unsided/platform revenue climbed to $386 million from $370 million, and BCO truck count grew sequentially for the first time since Q1 2022. Strong cash of $434 million fuels $40.6 million in buybacks. Impairments signal streamlining amid truckload woes.
8-K
Strategic impairments and verdict
Landstar System kicked off its 2025 strategic review by deciding to market its Mexican subsidiary, Landstar Metro, for sale after it fell short of goals, expecting a $13-17 million non-cash impairment in Q3. The company also plans to wind down Blue TMS in favor of Landstar TMS and impair its $5 million Cavnue investment, adding a $9 million and up to $5 million charge, respectively—totaling $27-31 million or $0.59-0.68 per share. A Texas jury verdict pinned 15% of $22.8 million damages on subsidiary Landstar Ranger for a 2021 accident, but insurance covers the immaterial $3.42 million hit without derailing operations. These moves sharpen focus amid Mexico risks.
8-K
Landstar Q2 revenue dips slightly
Landstar System reported Q2 2025 revenue of $1.211 billion, down 1.1% from $1.225 billion last year, with EPS falling to $1.20 from $1.48 amid softer freight demand. Unsided/platform equipment revenue rose to $401 million from $381 million, while van equipment dipped to $591 million from $619 million; truck revenue per load climbed 2.6% yet loads dropped 1.5%. BCO truck count held flat sequentially, the best in three years. Capital returns pressed on, with $42.4 million in buybacks and a $0.40 dividend declared.
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