Landstar System(US:LSTR) Globenewswireยท2025-05-13 11:50Core 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]