Scott Group

Jonathan Chappell

Brian Ossenbeck

Daniel Imbro

Elliot Alper

Stephanie Moore

Brandon Oglenski

Jason Seidl

J. Bruce Chan

Jizong Chan

Jordan Alliger

Reed Seay

Andrew Baxter Cox

Bascome Majors

David Hicks

David Zazula

Madison

Paul Stauder

Peter Sullivan

Ravi Shanker

Thomas Wadewitz

- Landstar reported **Q3 2025 revenue of $1,205.4 million**, a **0.7% decrease** compared to Q3 2024.  **[0000853816_2208888:7]** 
- GAAP operating income for Q3 2025 was **$26.3 million**, down **58.3%** year-over-year. Adjusted operating income, which excludes non-cash impairment charges, was **$56.4 million**, representing a **10.6% decrease** from Q3 2024.  **[0000853816_2208888:7]** 
- GAAP earnings per share (EPS) for Q3 2025 were **$0.56**, a **60.3% decline** from Q3 2024. Adjusted EPS, excluding non-cash impairment charges, was **$1.22**, down **13.5%**.  **[0000853816_2208888:7]** 
- Year-to-date Q3 2025, the company generated **$152.2 million** in cash flow from operations and **$144.5 million** in free cash flow. Landstar returned capital to stockholders through **$143.2 million** in share repurchases and **$111.1 million** in dividends paid.  **[0000853816_2208888:16]** 
- The company highlighted strong performance in services hauled by unsided/platform equipment and reported sequential growth in BCO truck count, marking the best performance since Q1 2022.  **[0000853816_2208888:7]**

Landstar Reports Q3 2025 Financial Results

- Landstar System Incorporated (LSTR) reported Q3 2025 revenue decreased approximately **1% year over year**, but increased approximately **1%** when adjusted for the planned sale of Landstar Metro and a prior agent fraud matter.  **[0000853816_2209861_1]** 
- Q3 2025 financial results included **$30.1 million** in discrete, non-cash, non-recurring charges, or **$0.66 per basic and diluted share**, primarily due to the decision to actively market Landstar Metro for sale.  **[0000853816_2209861_1]** **[0000853816_2209861_8]** 
- The heavy haul service offering posted a strong quarter with revenue increasing **17%** year over year to approximately **$147 million** in Q3 2025.  **[0000853816_2209861_1]** 
- The number of trucks provided by BCO independent contractors saw its **first sequential growth** since Q1 2022 in Q3 2025, increasing by **seven trucks**, despite a **5%** year-over-year decrease in BCO truck count.  **[0000853816_2209861_1]** **[0000853816_2209861_3]** 
- For Q4 2025, October truck volumes were approximately **3% below October 2024**, and revenue per load was approximately **equal to 2024**, both trending below normal seasonality.  **[0000853816_2209861_8]**

Landstar System Incorporated (LSTR) Reports Q3 2025 Results with Non-Recurring Charges and Mixed Revenue Trends

- Landstar System Incorporated reported **Q3 2025 GAAP EPS of $0.56** and **adjusted EPS of $1.22**, after accounting for **$30.1 million** in non-cash, non-recurring impairment charges.  **[0000853816_2209968_2]** 
- Overall company revenue decreased **1% year over year**; however, excluding the revenue contribution from Landstar Metro and a prior agent fraud matter, total revenue increased approximately **1% year over year**.  **[0000853816_2209968_1]** 
- The company experienced strong performance in its unsighted platform equipment business, with heavy haul revenue increasing **17% year over year** to **$147 million** in Q3 2025.  **[0000853816_2209968_1]** 
- Despite challenging freight conditions, the number of BCO independent contractors increased sequentially in Q3 2025 for the first time since Q1 2022, and the trailing 12-month truck turnover rate dropped to **31.5%**.  **[0000853816_2209968_1]** **[0000853816_2209968_3]** 
- Landstar continued its capital allocation strategy, deploying approximately **$143 million** for share repurchases and declaring a **$0.40 dividend** during the first nine months of 2025.  **[0000853816_2209968_2]** **[0000853816_2209968_7]**

Landstar System Incorporated Reports Q3 2025 Financial Results

- Landstar reported **Q3 2025 GAAP EPS of $0.56**, with **adjusted EPS of $1.22** after excluding **$30.1 million** or **$0.66 per share** in non-cash impairment charges.  **[0000853816_2209184_2]** 
- The **freight environment remained challenging** in Q3 2025, characterized by **soft demand** and market conditions favoring shippers, though truck revenue per load and loads hauled were essentially equal to Q3 2024.  **[0000853816_2209184_2]** 
- The company continued its capital allocation strategy, deploying approximately **$143 million** toward share buybacks for **995,000 shares** in the first nine months of 2025, and declared a **$0.40 dividend**.  **[0000853816_2209184_2]** 
- BCO truck count, despite a **5% year-over-year decrease**, saw its first sequential increase since Q1 2022, rising by **seven trucks** in Q3 2025, and the trailing 12-month truck turnover rate improved to **31.5%**.  **[0000853816_2209184_3]** 
- Landstar is investing in **AI-enabled solutions** and technology, and reported a **17% year-over-year increase in heavy haul revenue** for Q3 2025.  **[0000853816_2209184_6]** **[0000853816_2209184_4]**

- Landstar System, Inc. reported **total revenue of $1,205 million** for the 2025 third quarter, a slight decrease from $1,214 million in the prior year's third quarter.  **[853816_0001193125-25-253591_d29338dex991.htm:0]** 
- The company's basic and diluted earnings per share (EPS) for Q3 2025 were **$0.56**, significantly lower than $1.41 in Q3 2024.  **[853816_0001193125-25-253591_d29338dex991.htm:0]** 
- Excluding **$0.66 per share** in non-cash, non-recurring impairment charges, Landstar's **Adjusted EPS for Q3 2025 would have been $1.22**.  **[853816_0001193125-25-253591_d29338dex991.htm:0]** **[853816_0001193125-25-253591_d29338dex991.htm:1]** 
- Landstar returned capital to stockholders by purchasing **308,709 shares** of its common stock at an aggregate cost of **$40.6 million** during the quarter and declared a **quarterly dividend of $0.40 per share**.  **[853816_0001193125-25-253591_d29338dex991.htm:2]**

Landstar System Reports Third Quarter 2025 Results

LANDSTAR SYSTEM (LSTR)