AI Earnings Predictions for Landstar System Inc. (LSTR)

EX-99.1

2 d176512dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

For Immediate Release

October 27, 2026

LANDSTAR SYSTEM REPORTS THIRD QUARTER

REVENUE OF $1.512B AND EARNINGS PER SHARE OF $1.42

Jacksonville, FL - Landstar System, Inc. (NASDAQ: LSTR) (“Landstar” or the “Company”) today reported its financial results for the 2026 third quarter. The Company reported total revenue of $1.512 billion in the 2026 third quarter, an increase of 25% as compared to revenue of $1.205 billion in the 2025 third quarter, and basic and diluted earnings per share (“EPS”) of $1.42 in the 2026 third quarter, an increase of 154% as compared to EPS of $0.56 in the 2025 third quarter. It should be noted that EPS in the 2025 third quarter was negatively impacted by non-cash impairment charges of $30.1 million, or $0.66 per share, related to the previously disclosed strategic review of operations conducted during the 2025 third quarter, and, as further described below, the 2026 third quarter EPS was negatively impacted by highly elevated insurance and claim costs. The Company also reported a 14% increase in gross profit and a 25% increase in variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2026 third quarter, as compared in each case to the 2025 third quarter.

“The Landstar team of independent business owners and employees excelled in a freight transportation backdrop that continues to improve. Our network generated truck revenue of $1.407 billion, an increase of 29% compared to the 2025 third quarter, with revenue generated via van and unsided/platform equipment each increasing over 30% compared to the 2025 third quarter,” said Landstar President and Chief Executive Officer Frank Lonegro. “In addition, I was highly encouraged to see our net 165 Business Capacity Owner (BCO) truck additions during the third quarter, the strongest quarterly improvement since the third quarter of 2021. We are continuing to deliver safety, security and service for our customers, and our BCOs achieved a 5% year-over-year improvement in DOT accident frequency. Even so, we are not immune to the challenges of the insurance and claims inflation prevalent in our industry.”

LANDSTAR SYSTEM/2

3Q 2026

3Q 2025

Change ($)

Change (%)

Revenue

$ 1,511,787

$ 1,205,406

$ 306,381

25.4 %

Gross profit

$ 126,547

$ 111,060

$ 15,487

13.9 %

Variable contribution

$ 212,066

$ 170,241

$ 41,825

24.6 %

Operating income

$ 65,540

$ 26,326

$ 39,214

149.0 %

Basic and diluted earnings per share (“EPS”)

$ 1.42

$ 0.56

$ 0.86

153.6 %

(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.

(3)

Operating income and EPS during the 2025 third quarter were negatively impacted by $30.1 million and $0.66, respectively, as a result of non-cash impairment charges.

Third quarter 2026 EPS reflected highly elevated insurance and claim costs of $55.3 million, an increase from $33.0 million of insurance and claim costs reported during the 2025 third quarter. The following items are reflected in insurance and claims for the 2026 third quarter:

•

Approximately $13.0 million, or $0.29 per share, of adverse actuarial adjustments to insurance and claim reserves.

•

$8.0 million, or $0.18 per share, of prior year development attributable to settlements of a 2024 brokered truck accident claim and a 2025 BCO accident.

During the 2026 third quarter, truck revenue was $1,407 million, an increase of 29%, as compared to the 2025 third quarter truck revenue of $1,090 million. Truck revenue per load increased approximately 25% in the 2026 third quarter compared to the 2025 third quarter, and the number of loads hauled via truck increased approximately 3% compared to the 2025 third quarter.

Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2026 third quarter was 93% of revenue, compared to 90% of revenue in the 2025 third quarter. Truckload transportation revenue hauled via van equipment in the 2026 third quarter was $760 million, compared to $583 million in the 2025 third quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2026 third quarter was $519 million, compared to $386 million in the 2025 third quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2026 third quarter was $104 million, compared to $96 million in the 2025 third quarter. Revenue hauled by rail, air and ocean cargo carriers was $83 million, or 5% of revenue, in the 2026 third quarter, compared to $96 million, or 8% of revenue, in the 2025 third quarter.

LANDSTAR SYSTEM/3

Gross profit in the 2026 third quarter was $127 million, as compared to $111 million in the 2025 third quarter. Variable contribution in the 2026 third quarter was $212 milli

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