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Jun 28
Landstar Q2 2025 Earnings Report
Landstar reported lower revenue and earnings in Q2 2025 compared to the prior year, as volumes declined but per-load pricing slightly improved.
Key Takeaways
Landstar’s Q2 2025 results showed a modest revenue decrease year-over-year. Net income and operating income also fell, while the company saw improvement in revenue per load and stability in BCO truck count.
Revenue was $1.211 billion, slightly down from Q2 2024.
Net income fell to $41.9 million from $52.6 million in the prior year quarter.
Truckload revenue hauled via unsided/platform equipment increased to $401 million.
Cash and short-term investments totaled $426 million at quarter end.
Landstar
Landstar
Landstar Revenue by Segment
Landstar Revenue by Geographic Location
Revenue by Segment
Van equipment Revenue
CapyFin.comUnsided/platform equip. Revenue
CapyFin.comLess-than-truckload Revenue
CapyFin.comOther truck transport Revenue
CapyFin.comRail intermodal Revenue
CapyFin.comOcean & air cargo Revenue
CapyFin.comRevenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Landstar anticipates ongoing macroeconomic and freight market challenges, but expects stable performance driven by strong agent and contractor networks.
Positive Outlook
- Truck revenue per load showed sequential improvement.
- BCO truck count remained stable sequentially.
- Company maintains strong liquidity with $426 million in cash and investments.
- Share repurchase activity indicates confidence in valuation.
- Van and platform equipment segments continue to perform relatively well.
Challenges Ahead
- Year-over-year revenue and net income declined.
- Gross profit and variable contribution dropped compared to prior year.
- Decline in load volumes across most transport modes.
- Rail and air/ocean revenue fell year-over-year.
- Truck capacity providers decreased year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income