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JACKSONVILLE - Landstar System , Inc. (NASDAQ:LSTR) reported second-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $1.20, beating the consensus estimate of $1.17, while revenue came in at $1.21 billion, in line with analyst projections.
The transportation logistics company’s revenue remained relatively flat compared to the $1.23 billion reported in the same quarter last year, representing a modest 1.1% YoY decline. Truck transportation revenue, which accounts for 92% of total revenue, increased slightly to $1.12 billion compared to $1.11 billion in the second quarter of 2024.
"The 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," said Landstar President and CEO Frank Lonegro. "I was encouraged that Landstar achieved a 3.2% sequential increase in truck revenue per load compared to the 2025 first quarter, outperforming typical seasonality."
Notably, truckload transportation revenue hauled via unsided/platform equipment increased to $401 million from $381 million in the prior-year quarter, while revenue from other truck transportation, primarily related to power-only services, rose to $101 million from $78 million.
Truck revenue per load increased 2.6% compared to the second quarter of 2024, though the number of loads hauled via truck declined 1.5% over the same period. The company maintained a strong balance sheet with approximately $426 million in cash and short-term investments as of June 28, 2025.
Landstar also continued its capital return program, purchasing 300,141 shares of its common stock at an aggregate cost of $42.4 million during the quarter. The company’s Board of Directors declared a quarterly dividend of $0.40 per share payable on September 9, 2025.
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