Earnings Release Schedule - Landstar System, Inc. announced the rescheduling of its Q1 2025 earnings release and conference call to May 13, 2025, from the previously scheduled date of April 29, 2025[7]. - The company expects to file its Quarterly Report on Form 10-Q for Q1 2025 no later than May 13, 2025, following a five-calendar day extension[7]. Fraud and Internal Control - A supply chain fraud was identified during the last week of Q1 2025, which does not involve Landstar's core North American truckload services[7]. - The ongoing evaluation of accounting and internal control matters is related to the previously referenced fraud[7]. Press Release - The press release detailing these updates was issued on April 25, 2025[5].

Financial Performance - Revenue decreased by 1.6% from $1,171.0 million in 1Q 2024 to $1,152.5 million in 1Q 2025 [15] - Operating income decreased by 34.3% from $60.0 million in 1Q 2024 to $39.4 million in 1Q 2025 [15] - Earnings per share decreased by 35.6% from $1.32 in 1Q 2024 to $0.85 in 1Q 2025 [15] - Gross profit decreased from $113.9 million in 1Q 2024 to $98.3 million in 1Q 2025, with gross profit margin decreasing from 9.7% to 8.5% [40] - Variable contribution decreased from $168.2 million in 1Q 2024 to $161.3 million in 1Q 2025, with variable contribution margin decreasing from 14.4% to 14.0% [40] Operational Metrics - Truck revenue was $1.05 billion [23] - Truck loadings were 485,000 [23] - Truck revenue per load was $2,165 [23] - The company has approximately 1,030 agents, over 23,000 customers, and access to over 88,000 capacity providers [21] - Available truck capacity providers totaled 88,469 as of March 29, 2025 [26] Capital Allocation - Net cash was $379.5 million as of March 29, 2025, compared to $465.2 million as of March 30, 2024 [47] - Share repurchases amounted to $60.4 million in 1Q 2025 [48] - Dividends paid were $83.3 million in 1Q 2025 [48]

Core Insights - Landstar System, Inc. reported a basic and diluted earnings per share (EPS) of $0.85 for Q1 2025, down from $1.32 in Q1 2024, with total revenue of $1.153 billion compared to $1.171 billion in the previous year [1][3][14] - The company experienced a $4.8 million pre-tax charge related to a supply chain fraud incident, impacting EPS by $0.10 [1][5] - Despite challenges, the number of loads hauled via truck in Q1 2025 exceeded the previous quarter for the first time in fifteen years, indicating a positive trend in operational performance [1][4] Financial Performance - Revenue for Q1 2025 was $1,153 million, a decrease of 1.5% from $1,171 million in Q1 2024 [3][14] - Gross profit for Q1 2025 was $98 million, down from $114 million in Q1 2024, while variable contribution decreased from $168 million to $161 million [6][14] - Operating income fell to $39.4 million in Q1 2025 from $60 million in Q1 2024 [14] Operational Highlights - Truck transportation revenue accounted for 91% of total revenue in Q1 2025, totaling $1,050 million, compared to $1,069 million in Q1 2024 [3][18] - The number of loads hauled via truck decreased by 1.2% year-over-year, which was better than the company's guidance range [4] - Truck revenue per load decreased by 0.6% compared to the previous year [4] Capital Return to Shareholders - In Q1 2025, Landstar repurchased approximately 386,000 shares at a cost of $60.9 million and paid $83.3 million in cash dividends [2] - The Board of Directors declared a quarterly dividend of $0.40 per share, an increase of 11% from the previous quarter [2] Balance Sheet Strength - As of March 29, 2025, Landstar had cash and short-term investments totaling approximately $473 million [7] - The trailing twelve-month return on average shareholders' equity was 18%, and return on invested capital was 17% [7]

Group 1 - Landstar System, Inc. will release its 2025 first quarter results before the market opens on May 13, 2025 [1] - A quarterly conference call with analysts and investors will be held at 8:30 a.m. ET on the same day to discuss the results [1] - The conference call will be accessible via webcast and will also have a telephone replay option available for 48 hours [1] Group 2 - Landstar is a technology-enabled, asset-light provider of integrated transportation management solutions [2] - The company delivers specialized transportation services to a diverse range of customers through a network of agents and third-party capacity providers [2] - Landstar is headquartered in Jacksonville, Florida, and its common stock trades on NASDAQ under the symbol LSTR [2]

Core Viewpoint - Landstar System (LSTR) is expected to report a significant decline in quarterly earnings and revenues, with analysts predicting earnings of $0.92 per share, a 30.3% decrease year-over-year, and revenues of $1.13 billion, reflecting a 3.5% decrease compared to the previous year [1][5]. Earnings Estimates - The consensus EPS estimate has been revised down by 2.9% over the last 30 days, indicating a collective reevaluation by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue and Income Projections - Analysts project 'Revenue' to reach $1.13 billion, indicating a year-over-year change of -3.6% [5]. - 'Investment income' is estimated at $2.88 million, suggesting a decline of 15.6% year-over-year [5][6]. Load Metrics - The estimated 'Number of loads - Ocean and air cargo carriers' is 8,899, up from 8,720 in the same quarter last year [6]. - For 'Truck Transportation', the estimated number of loads is 468,390, down from 490,720 year-over-year [7]. - The total estimated number of loads is 484,455, compared to 506,590 in the previous year [7]. Revenue per Load - Analysts expect 'Revenue per load - Ocean and air cargo carriers' to be $6,579.53, an increase from $6,201 year-over-year [8][9]. - 'Revenue per load - Rail Intermodal' is projected at $3,170.29, slightly down from $3,174 [8]. - For 'Truck Transportation', the expected revenue per load is $2,176.89, marginally lower than $2,178 from the previous year [8]. Stock Performance - Over the past month, Landstar shares have decreased by 6.2%, contrasting with the S&P 500 composite's increase of 11.3% [10].

Lodestar Metals Secures Option on Highly Prospective Gold Run Property in Nevada's Getchell TrendMay 07, 2025 7:11 PM EDT | Source: Lodestar Metals Corp.Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) ("Lodestar" or the "Company"), is pleased to announce it has entered into a property option agreement dated May 6, 2025 (the "Option Agreement") with William Matlack and Don McDowell (collectively, the "Option") to acquire a 100% int ...

Core Viewpoint - Landstar System, Inc. is under investigation for potential securities fraud and unlawful business practices following the disclosure of significant supply chain fraud that may impact its earnings [1][2]. Group 1: Company Financial Impact - On April 2, 2025, Landstar identified a significant supply chain fraud that could adversely affect its first quarter 2025 earnings per share by $0.35 to $0.50, leading to the withdrawal of its previous earnings guidance [2]. - Following this announcement, Landstar's stock price dropped by $13.30, or 8.75%, closing at $138.63 on April 3, 2025 [2]. - On April 25, 2025, Landstar announced it would be unable to file its quarterly report on time due to ongoing evaluations of accounting and internal control matters related to the fraud, resulting in a further stock price decline of $4.92, or 3.52%, to close at $135.00 [3]. Group 2: Legal Investigation - Pomerantz LLP is investigating claims on behalf of Landstar investors regarding potential securities fraud and unlawful business practices by the company and its officers or directors [1]. - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [4].

Core Viewpoint - Landstar System, Inc. is under investigation for potential securities fraud and unlawful business practices following the disclosure of significant supply chain fraud that may impact its earnings [1][3]. Financial Impact - On April 2, 2025, Landstar announced that the identified fraud could adversely affect its first quarter 2025 earnings per share by $0.35 to $0.50, leading to a stock price drop of $13.30, or 8.75%, closing at $138.63 on April 3, 2025 [3]. - On April 25, 2025, Landstar revealed it would be unable to file its quarterly report on time due to ongoing evaluations related to the fraud, resulting in a further stock price decline of $4.92, or 3.52%, closing at $135.00 [4]. Legal Proceedings - Pomerantz LLP is investigating claims on behalf of Landstar investors, indicating potential class action litigation related to the alleged fraud [1].

LOS ANGELES, May 1, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Landstar System, Inc. ("Landstar" or "the Company") (NASDAQ: LSTR) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Landstar admitted on April 2, 2025, that it had "identified a significant sup ...

Core Viewpoint - Landstar System, Inc. is under investigation for potential violations of federal securities laws and unlawful business practices following the identification of significant supply chain fraud that may impact its earnings [1][2]. Group 1: Company Developments - On April 2, 2025, Landstar disclosed a significant supply chain fraud that could negatively affect its first quarter 2025 earnings per share by $0.35 to $0.50 [2]. - Following the fraud revelation, Landstar retracted its previously issued earnings guidance for the first quarter of 2025, leading to a decline in its stock price [2]. - On April 25, 2025, Landstar announced it would be unable to file its quarterly report on time due to ongoing evaluations of accounting and internal control matters related to the identified fraud, resulting in further stock price drops [2]. Group 2: Legal Actions - Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Landstar stockholders who may have suffered losses due to the company's recent disclosures and actions [1][3]. - The law firm is reaching out to long-term stockholders and those with information regarding the situation to discuss their rights and interests [3].