Landstar Q2 Earnings & Revenues Surpass Estimates, Down Y/Y

Landstar System, Inc. (LSTR) second-quarter 2025 earnings per share (EPS) of $1.20 beat the Zacks Consensus Estimate of $1.16 but fell 18.9% year over year. Revenues of $1.21 billion marginally surpassed the Zacks Consensus Estimate of $1.20 billion but declined 1.1% year over year.

Landstar's revenue performance in the second quarter witnessed truck revenue per load improving by 2.6% year over year, partially offset by a 1.5% decrease in the number of loads hauled via truck over the same period.

The 2.6% uptick in truck revenue per load was owing to a 3.2% increase in revenue per load on loads hauled by unsided platform equipment and by a 1.2% increase in revenue per load on loads hauled via van equipment.

Operating income fell 17.3% from the prior-year quarter’s figure to $56.28 million. Total costs and expenses (on a reported basis) declined marginally by 0.1% to $1.15 billion.

LSTR's Q2 Segmental Details

Total revenues in the truck transportation segment — contributing to 89.8% of the top line — amounted to $1.11 billion, up 1.1% from the year-ago quarter’s figure. The reported figure was above our expectations of $1.09 billion.

Rail intermodal revenues of $22.02 million fell 1.3% from the figure recorded in second-quarter 2024. The reported figure was above our expectations of $21.7 million.

Revenues in the ocean and air-cargo carrier segments fell 28.7% year over year to $50.78 million. The reported figure was below our expectations of $72.1 million.

Other revenues decreased 20.5% to $20.42 million. The reported figure was below our expectations of $22 million.

Liquidity, Dividends & Buyback

At the end of second-quarter 2025, Landstar had cash and cash equivalents of $359.23 million compared with $417.42 million recorded at the prior-quarter end. Additionally, long-term debt (excluding current maturities) totaled $54.67 million at the end of the second quarter compared with $61.9 million at the prior-quarter end.

During the second quarter of 2025, Landstar purchased 300,141 shares for $42.4 million. LSTR is currently authorized to purchase up to an additional 1,861,522 shares under its longstanding share purchase program.  

Landstar’s board of directorsalsoannounced a quarterly cash dividend of 40 cents per share payable on Sept. 9, 2025, to stockholders of record as of the close of business on Aug. 19, 2025.

Currently, Landstar carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Performances of Other Transportation Companies

Delta Air Lines (DAL) reported second-quarter 2025 earnings (excluding $1.17 per share from non-recurring items) of $2.10 per share, which beat the Zacks Consensus Estimate of $2.04. Earnings decreased 11% on a year-over-year basis due to high labor costs.

Revenues in the June-end quarter were $16.65 billion, beating the Zacks Consensus Estimate of $16.2 billion and decreasing marginally on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1% year over year to $15.5 billion. 

J.B. Hunt Transport Services, Inc. (JBHT) reported second-quarter 2025 earnings of $1.31 per share, which missed the Zacks Consensus Estimate of $1.34 and declined 0.8% year over year.

Total operating revenues of $2.93 billion missed the Zacks Consensus Estimate of $2.94 billion and were flat year over year. JBHT’s second-quarter revenue performance witnessed a 6% increase in Intermodal (JBI) loads, a 13% increase in Truckload (JBT) loads, a 3% increase in Dedicated Contract Services (DCS) productivity and a 6% increase in Integrated Capacity Solutions (ICS) revenue per load. These items were offset by Final Mile Services revenue declining 10%, lower revenue per load in both JBI and JBT, a 9% decrease in ICS load volume and a 3% decline in average trucks in DCS. Total operating revenues, excluding fuel surcharge revenue, increased 1% on a year-over-year basis.

United Airlines Holdings, Inc. (UAL) reported mixed second-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.

UAL's second-quarter 2025 adjusted earnings per share of $3.87 surpassed the Zacks Consensus Estimate by a penny but declined 6.5% on a year-over-year basis. The reported figure lies within the guided range of $3.25-$4.25.

Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.4 billion but increased 1.7% year over year. Passenger revenues (which accounted for 90.8% of the top line) increased 1.1% year over year to $13.8 billion. UAL flights transported 46,186 passengers in the second quarter, up 4.1% year over year.

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