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Landstar Q4 Earnings Beat Estimates, Revenues Miss, Both Down Y/Y
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Key Takeaways
Landstar posted Q4 EPS of $1.24, topping estimates, while revenue fell 2.9% year over year to $1.17. billion.
LSTR's operating income fell 48.8% year over year as macro demand stayed weak despite flat truck revenue.
Landstar saw rail intermodal revenue jump 30.7%, while ocean and air-cargo revenues declined year over year.
Landstar System, Inc.’s (LSTR - Free Report) ) fourth-quarter 2025 earnings per share (EPS) of $1.24 surpassed the Zacks Consensus Estimate of $1.19 and fell 5.3% year over year. Revenues of $1.17 billion missed the Zacks Consensus Estimate of $1.18 billion and declined 2.9% year over year.
Operating income fell 48.8% from the prior-year quarter’s figure to $29.52 million. Total costs and expenses (on a reported basis) fell 0.6% year over year to $1.14 billion.
Landstar System, Inc. Price, Consensus and EPS Surprise
Landstar president and chief executive officer, Frank Lonegro, stated, “The Landstar team of independent business owners and employees performed well during the 2025 fourth quarter despite continued tough macro demand conditions in the freight transportation market. In fact, fourth quarter truck transportation revenue was nearly flat year over year, as the decrease in total revenue was primarily attributable to decreased ocean revenue. Our services hauled by unsided/platform equipment, a real bright spot for Landstar throughout 2025, continued to demonstrate sustained strength in the fourth quarter.”
LSTR’s Q4 Segmental Details
Total revenues in the truck transportation segment — contributing to 91.8% of the top line — amounted to $1.07 billion, down 0.2% from the year-ago quarter’s figure. The reported figure was in line with our expectations of $1.07 billion.
Rail intermodal revenues of $23.98 million rose 30.7% from the figure recorded in fourth-quarter 2024. The reported figure was above our expectations of $17.7 million.
Revenues in the ocean and air-cargo carrier segments fell 40.1% year over year to $52.73 million. The reported figure was below our expectations of $89.9 million.
Other revenues decreased 11.4% year over year to $19.48 million. The reported figure was above our expectations of $16.8 million.
Liquidity, Dividends & Buyback
At the end of fourth-quarter 2025, Landstar had cash and cash equivalents of $396.69 million compared with $375.19 million recorded at the prior-quarter end. Additionally, long-term debt (excluding current maturities) totaled $48.48 million at the end of the fourth quarter compared with $47.70 million at the prior-quarter end.
During the fourth quarter of 2025, Landstar purchased 286,695 shares for $37 million. LSTR is currently authorized to purchase up to an additional 1,266,118 shares under its longstanding share purchase program.
Landstar’s board of directorsalsoannounced a quarterly cash dividend of 40 cents per share payable on March 11, 2026, to stockholders of record as of the close of business on Feb. 18, 2026.
Delta Air Lines (DAL - Free Report) reported fourth-quarter 2025 earnings (excluding 31 cents from non-recurring items) of $1.55 per share, which beat the Zacks Consensus Estimate of $1.53. Earnings decreased 16.22% on a year-over-year basis due to high labor costs.
Revenues in the December-end quarter were $16 billion, beating the Zacks Consensus Estimate of $15.63 billion and increasing 2.9% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1.2% year over year to $14.6 billion. Revenue growth was impacted by about 2 points due to the government shutdown, mainly in the domestic segment, consistent with the company's disclosure last month.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported fourth-quarter 2025 earnings of $1.90 per share, which surpassed the Zacks Consensus Estimate of $1.81 and improved 24.2% year over year.
Total operating revenues of $3.09 billion lagged the Zacks Consensus Estimate of $3.12 billion and were down 1.6% year over year. JBHT’s fourth-quarter revenue performance was hurt by a 2% and 4% decline in revenue per load excluding fuel surcharge revenue in Intermodal (JBI) and Truckload (JBT), respectively, a 1% decrease in average trucks in Dedicated Contract Services (DCS), and a 7% and 2% decline in load volume in Integrated Capacity Solutions (ICS) and JBI, respectively. The decrease in revenue, excluding fuel surcharge revenue, was partially offset by a 15% increase in volume in JBT, a 1% uptick in productivity, excluding fuel surcharge revenue, in DCS, and an increase in revenue per load in ICS. Total operating revenue, excluding fuel surcharge revenue, decreased 2% year over year.
United Airlines Holdings, Inc. (UAL - Free Report) reported solid fourth-quarter 2025 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate.
UAL's fourth-quarter 2025 adjusted earnings per share (excluding 9 cents from non-recurring items) of $3.10 surpassed the Zacks Consensus Estimate of $2.98 but declined 4.9% on a year-over-year basis. The reported figure lies within the guided range of $3.00-$3.50.
Operating revenues of $15.4 billion outpaced the Zacks Consensus Estimate marginally by 0.1% and increased 4.8% year over year. Passenger revenues (which accounted for 90.4% of the top line) increased 4.9% year over year to $13.9 billion. UAL flights transported 45,679 passengers in the fourth quarter, up 3% year over year.
Cargo revenues fell 6% year over year to $490 million. Revenues from other sources rose 9.1% year over year to $981 million.
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Landstar Q4 Earnings Beat Estimates, Revenues Miss, Both Down Y/Y
Key Takeaways
Landstar System, Inc.’s (LSTR - Free Report) ) fourth-quarter 2025 earnings per share (EPS) of $1.24 surpassed the Zacks Consensus Estimate of $1.19 and fell 5.3% year over year. Revenues of $1.17 billion missed the Zacks Consensus Estimate of $1.18 billion and declined 2.9% year over year.
Operating income fell 48.8% from the prior-year quarter’s figure to $29.52 million. Total costs and expenses (on a reported basis) fell 0.6% year over year to $1.14 billion.
Landstar System, Inc. Price, Consensus and EPS Surprise
Landstar System, Inc. price-consensus-eps-surprise-chart | Landstar System, Inc. Quote
Landstar president and chief executive officer, Frank Lonegro, stated, “The Landstar team of independent business owners and employees performed well during the 2025 fourth quarter despite continued tough macro demand conditions in the freight transportation market. In fact, fourth quarter truck transportation revenue was nearly flat year over year, as the decrease in total revenue was primarily attributable to decreased ocean revenue. Our services hauled by unsided/platform equipment, a real bright spot for Landstar throughout 2025, continued to demonstrate sustained strength in the fourth quarter.”
LSTR’s Q4 Segmental Details
Total revenues in the truck transportation segment — contributing to 91.8% of the top line — amounted to $1.07 billion, down 0.2% from the year-ago quarter’s figure. The reported figure was in line with our expectations of $1.07 billion.
Rail intermodal revenues of $23.98 million rose 30.7% from the figure recorded in fourth-quarter 2024. The reported figure was above our expectations of $17.7 million.
Revenues in the ocean and air-cargo carrier segments fell 40.1% year over year to $52.73 million. The reported figure was below our expectations of $89.9 million.
Other revenues decreased 11.4% year over year to $19.48 million. The reported figure was above our expectations of $16.8 million.
Liquidity, Dividends & Buyback
At the end of fourth-quarter 2025, Landstar had cash and cash equivalents of $396.69 million compared with $375.19 million recorded at the prior-quarter end. Additionally, long-term debt (excluding current maturities) totaled $48.48 million at the end of the fourth quarter compared with $47.70 million at the prior-quarter end.
During the fourth quarter of 2025, Landstar purchased 286,695 shares for $37 million. LSTR is currently authorized to purchase up to an additional 1,266,118 shares under its longstanding share purchase program.
Landstar’s board of directorsalsoannounced a quarterly cash dividend of 40 cents per share payable on March 11, 2026, to stockholders of record as of the close of business on Feb. 18, 2026.
Currently, Landstar carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q4 Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported fourth-quarter 2025 earnings (excluding 31 cents from non-recurring items) of $1.55 per share, which beat the Zacks Consensus Estimate of $1.53. Earnings decreased 16.22% on a year-over-year basis due to high labor costs.
Revenues in the December-end quarter were $16 billion, beating the Zacks Consensus Estimate of $15.63 billion and increasing 2.9% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1.2% year over year to $14.6 billion. Revenue growth was impacted by about 2 points due to the government shutdown, mainly in the domestic segment, consistent with the company's disclosure last month.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported fourth-quarter 2025 earnings of $1.90 per share, which surpassed the Zacks Consensus Estimate of $1.81 and improved 24.2% year over year.
Total operating revenues of $3.09 billion lagged the Zacks Consensus Estimate of $3.12 billion and were down 1.6% year over year. JBHT’s fourth-quarter revenue performance was hurt by a 2% and 4% decline in revenue per load excluding fuel surcharge revenue in Intermodal (JBI) and Truckload (JBT), respectively, a 1% decrease in average trucks in Dedicated Contract Services (DCS), and a 7% and 2% decline in load volume in Integrated Capacity Solutions (ICS) and JBI, respectively. The decrease in revenue, excluding fuel surcharge revenue, was partially offset by a 15% increase in volume in JBT, a 1% uptick in productivity, excluding fuel surcharge revenue, in DCS, and an increase in revenue per load in ICS. Total operating revenue, excluding fuel surcharge revenue, decreased 2% year over year.
United Airlines Holdings, Inc. (UAL - Free Report) reported solid fourth-quarter 2025 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate.
UAL's fourth-quarter 2025 adjusted earnings per share (excluding 9 cents from non-recurring items) of $3.10 surpassed the Zacks Consensus Estimate of $2.98 but declined 4.9% on a year-over-year basis. The reported figure lies within the guided range of $3.00-$3.50.
Operating revenues of $15.4 billion outpaced the Zacks Consensus Estimate marginally by 0.1% and increased 4.8% year over year. Passenger revenues (which accounted for 90.4% of the top line) increased 4.9% year over year to $13.9 billion. UAL flights transported 45,679 passengers in the fourth quarter, up 3% year over year.
Cargo revenues fell 6% year over year to $490 million. Revenues from other sources rose 9.1% year over year to $981 million.