Landstar System Reports $1.171 Billion Revenue, 2% Increase, and $39.44 Million Net Income

Landstar System, Inc. reported a revenue of $1.171 billion for the thirteen weeks ended March 28, 2026, marking a 2% increase from $1.153 billion in the same period last year. The growth in revenue was primarily driven by a 4% increase in revenue per load, despite a 3% decrease in the number of loads hauled. The company's net income for the quarter was $39.44 million, or $1.16 per share, compared to $29.81 million, or $0.85 per share, in the prior year, reflecting a significant increase in profitability.

The company experienced notable changes in its operational metrics. The revenue generated by BCO Independent Contractors and Truck Brokerage Carriers, which together accounted for 92% of total revenue, increased by 3% to $1.082 billion. The average revenue per load for these providers rose approximately 6%, while the total number of loads decreased by about 2%. Additionally, Landstar's insurance segment reported a decline in reinsurance premiums, falling to $14.29 million from $14.76 million, attributed to a decrease in the average number of trucks provided by BCO Independent Contractors.

In terms of operational developments, Landstar's total current assets decreased to $1.184 billion from $1.216 billion at the end of the previous fiscal year. The company reported a reduction in cash and cash equivalents to $353.26 million, down from $396.69 million. The total number of BCO Independent Contractors decreased slightly to 7,663 from 7,871 year-over-year, while the number of approved and active Truck Brokerage Carriers also saw a decline. The company continues to focus on enhancing its technology and operational efficiencies to support its independent commission sales agents and third-party capacity providers.

Landstar's strategic initiatives included the ongoing marketing of its Mexican subsidiary, Landstar Metro, which is being considered for sale or other strategic alternatives. The company recognized an additional impairment of $1.05 million related to this subsidiary during the quarter. Furthermore, Landstar's board authorized the purchase of up to 1.9 million shares of its common stock, with 150,923 shares repurchased during the quarter at a total cost of $22.59 million.

Looking ahead, Landstar's management expressed optimism about future revenue growth, emphasizing the importance of increasing the number of Million Dollar Agents—those generating over $1 million in revenue annually. The company anticipates continued demand for its services, although it remains cautious about potential economic fluctuations and market conditions that could impact its operations. The company maintains a strong liquidity position, with $265.08 million available for future borrowings under its credit agreement, which provides a revolving credit facility of $300 million.