Landstar公布二季度收入14.32亿美元、EPS 1.44美元并上调季度股息10%

2Q 2026 Presentation Slides
2.1 MB
JACKSONVILLE, Fla.
,
July 28, 2026
(GLOBE NEWSWIRE) --
Landstar System, Inc.
(NASDAQ: LSTR) (“Landstar” or the “Company”) today reported its financial results for the 2026 second quarter. The Company reported total revenue of
$1.432 billion
in the 2026 second quarter, an increase of 18% as compared to revenue of
$1.211 billion
in the 2025 second quarter, and basic and diluted earnings per share (“EPS”) of
$1.44
in the 2026 second quarter, an increase of 20% as compared to EPS of
$1.20
per share in the 2025 second quarter. The Company also reported a 21% increase in gross profit and a 17% increase in variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2026 second quarter, as compared in each case to the 2025 second quarter.
“The Landstar team of independent business owners and employees truly shined in a rapidly improving freight transportation backdrop. I was pleased that our network generated both truck volumes and truck revenue per load that outpaced normal seasonal patterns, with variable contribution increasing approximately 17% year-over-year,” said
Landstar
President and Chief Executive Officer
Frank Lonegro
. “I was delighted to see our net 68 BCO truck additions during the second quarter, the strongest quarterly improvement since the first quarter of 2022. Although the Company experienced a lower DOT accident frequency during the 2026 first half, increased insurance and claims expense, primarily attributable to unfavorable development of prior years’ claims, had an adverse impact on our second quarter results. The claim environment for freight transportation providers remains challenging, especially with the
U.S
. Supreme Court’s recent
Montgomery
decision relating to potential broker liability.”
2Q 2026
2Q 2025
Change ($)
Change (%)
Revenue
$
1,432,264
$
1,211,383
$
220,881
18.2
%
Gross profit
$
132,337
$
109,261
$
23,076
21.1
%
Variable contribution
$
199,429
$
170,450
$
28,979
17.0
%
Operating income
$
66,228
$
56,280
$
9,948
17.7
%
Basic and diluted earnings per share (“EPS”)
$
1.44
$
1.20
$
0.24
20.0
%
(1)   Dollars above in thousands, except per share amounts.
(2)   Please refer to the Consolidated Statements of Income and the Reconciliation of Gross Profit to Variable Contribution included below.
Landstar
also announced today that its Board of Directors declared a quarterly dividend of
$0.44
per share payable on
September 9, 2026
, to stockholders of record as of the close of business on
August 18, 2026
. This quarterly dividend includes a 10% increase over the amount of the Company’s regular quarterly dividend declared following each of the prior five quarters. It is currently the intention of the Board to continue to pay dividends on a quarterly basis going forward. Landstar continues to return capital to stockholders through the Company’s stock purchase program and dividends. While
Landstar
did not purchase shares in the second quarter, during the 2026 first half, Landstar purchased 150,923 shares of its common stock at an aggregate cost of $22.6 million. The Company is currently authorized to purchase up to an additional 1,115,195 shares of the Company’s common stock under its longstanding share purchase program.
During the 2026 second quarter, truck revenue was
$1,334 million
, or 19% higher, as compared to the 2025 second quarter truck revenue of
$1,118 million
. Truck revenue per load increased approximately 17% in the 2026 second quarter compared to the 2025 second quarter, and the number of loads hauled via truck increased approximately 2% compared to the 2025 second quarter.
Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2026 second quarter was 93% of revenue, compared to 92% of revenue in the 2025 second quarter. Truckload transportation revenue hauled via van equipment in the 2026 second quarter was
$718 million
, compared to
$591 million
in the 2025 second quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2026 second quarter was
$492 million
, compared to
$401 million
in the 2025 second quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2026 second quarter was
$99 million
, compared to $101 million in the 2025 second quarter. Revenue hauled by rail, air and ocean cargo carriers was
$78 million
, or 5% of revenue, in the 2026 second quarter, compared to
$73 million
, or 6% of revenue, in the 2025 second quarter.
Gross profit in the 2026 second quarter was
$132 million
, as compared to
$109 million
in the 2025 second quarter. Variable contribution in the 2026 second quarter was
$199 million
, compared to
$170 million
in the 2025 second quarter. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin for the 2026 and 2025 second quarters and year-to-date periods are provided in the Company’s accompanying financial disclosures.
The Company’s balance sheet continues to be very strong, with cash and short-term investments of approximately
$348 million
as of
June 27, 2026
. Trailing twelve-month return on average shareholders’ equity was 16%. Return on invested capital, representing net income divided by the sum of average equity plus average debt, was 14%.
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
www.investor.landstar.com
; click on “Webcasts,” then click on “Landstar’s Second Quarter 2026 Earnings Release Conference Call.” A slide presentation to accompany the webcast presentation is also available on Landstar’s investor relations website at
https://investor.landstar.com/
.
About Landstar:
Landstar System, Inc., is a technology-enabled, asset-light provider of freight transportation and logistics solutions focused on safety, security and service 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® 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’s financial condition and results of operations; (2) this information will facilitate comparisons by investors of the Company’s 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 “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are “forward-looking statements.” This press release contains forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Terms such as “antici