Landstar System Inc (NASDAQ:LSTR) stock rose 0.84% (As on May 14, 11:22:55 AM UTC-4, Source: Google Finance) after the company announced earnings for first quarter that decreased from last year and missed the Street estimates. The company’s bottom line totaled $29.81 million compared to $47.10 million, last year. During the last week of the Company’s 2025 first quarter, Landstar identified a supply chain fraud relating to the Company’s international freight forwarding operations that does not involve its core North American truckload services. While investigation, remediation and collection efforts continue, the 2025 first quarter results include a $4.8 million pre-tax charge, or $0.10 per share, relating to this matter.
On the other hand, Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2025 first quarter was $1,050 million, or 91% of revenue, compared to $1,069 million, or 91% of revenue, in the 2024 first quarter. Truckload transportation revenue hauled via van equipment in the 2025 first quarter was $595 million, compared to $628 million in the 2024 first quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2025 first quarter was $340 million, compared to $343 million in the 2024 first quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2025 first quarter was $92 million, compared to $72 million in the 2024 first quarter. Revenue hauled by rail, air and ocean cargo carriers was $83 million, or 7% of revenue, in the 2025 first quarter, compared to $77 million, or 7% of revenue, in the 2024 first quarter. The number of loads hauled via truck declined 1.2% in the 2025 first quarter as compared to the 2024 first quarter. Truck revenue per load decreased 0.6% in the 2025 first quarter as compared to the 2024 first quarter.
LSTR in the first quarter of FY25 has reported the adjusted earnings per share of 85 cents, missing the analysts’ estimates for the adjusted earnings per share of 94 cents. The company had reported the adjusted revenue declined 1.6 percent to $1.15 billion in the first quarter of FY25, beating the analysts’ estimates for revenue of $1.13 billion. The cash and short-term investments were of approximately $473 million as of March 29, 2025.
Additionally, Landstar declared a quarterly dividend of $0.40 per share, an 11% increase over the previous quarter’s dividend.