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Sep 27, 2025
Landstar Q3 2025 Earnings Report
Landstar reported its financial results for the third quarter of 2025, including total revenue of $1,205 million and basic and diluted EPS of $0.56, which was impacted by non-cash impairment charges.
Key Takeaways
Landstar System, Inc. reported a challenging third quarter in 2025 with total revenue of $1,205 million, a slight decrease from the previous year. Basic and diluted EPS significantly dropped to $0.56, primarily due to $0.66 per share in non-cash, non-recurring impairment charges. Excluding these charges, adjusted EPS would have been $1.22. Despite the economic headwinds, the company saw strong performance in unsided/platform equipment services and achieved sequential growth in BCO truck count.
Total revenue for Q3 2025 was $1,205 million, a slight decrease from $1,214 million in Q3 2024.
Basic and diluted EPS for Q3 2025 was $0.56, significantly lower than $1.41 in Q3 2024, primarily due to $0.66 in non-cash impairment charges.
Adjusted EPS, excluding the non-cash impairment charges, would have been $1.22 for Q3 2025.
The company experienced strong performance in services hauled by unsided/platform equipment and achieved sequential quarter-over-quarter growth in BCO truck count for the first time since Q1 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The report does not contain explicit forward-looking guidance for the next quarter or fiscal year. However, it highlights strategic focuses for future growth.
Positive Outlook
- Sustained strength over multiple quarters in unsided/platform business is expected to be leveraged in the next upcycle.
- Turning the corner on net BCO truck count is a positive indicator for future capacity.
- Laser focus on safety, security, and delivering great service to customers will be key elements for the next upcycle.
- Strategic review of operations focused on streamlining core operations and positioning the Company for future growth.
- Continued return of capital to stockholders through stock purchase program and dividends.
Challenges Ahead
- Continued challenges in the overall economic environment for truck transportation services.
- Non-cash, non-recurring impairment charges adversely impacted Q3 2025 financial results.
- Decision to actively market for sale Landstar Metro, S.A.P.I. de C.V., the Company’s wholly-owned Mexican operating subsidiary.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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