Revenue: As of FY2026 Q2, the actual value is USD 1.432 B, beating the estimate of USD 1.336 B.

EPS: As of FY2026 Q2, the actual value is USD 1.44, missing the estimate of USD 1.4862.

EBIT: As of FY2026 Q2, the actual value is USD 66.23 M.

Overall Performance (Thirteen Weeks Ended June 27, 2026 vs. June 28, 2025)

Total revenue for Landstar System, Inc. was $1,432,264 thousand, an 18.2% increase compared to $1,211,383 thousand in the prior year period . Net income was $48,951 thousand, an increase from $41,893 thousand in the prior year .

Segment Revenue

• Total Truck Transportation Revenue: $1,333,878 thousand, a 19% increase from $1,118,138 thousand . Truck revenue increased by 19.3% in Q2 2026, driven by a 17.0% rate increase and 1.9% volume increase .
• Truckload Revenue (Van Equipment): $717,513 thousand, up from $591,276 thousand . This represented 50% of revenue in Q2 2026 .
• Truckload Revenue (Unsided/Platform Equipment): $492,168 thousand, up from $400,862 thousand . This represented 34% of revenue in Q2 2026 .
• Other Truck Transportation Revenue: $99,073 thousand, a decrease from $100,687 thousand . This represented 7% of revenue in Q2 2026 .
• Less-Than-Truckload (LTL) Revenue: $25,124 thousand, slightly down from $25,313 thousand . This represented 2% of revenue in Q2 2026 .
• Rail Intermodal Revenue: $27,761 thousand , increasing by 26.0% in Q2 2026 due to a 15.7% rate increase and 9.0% volume increase . This represented 2% of revenue in Q2 2026 .
• Ocean and Air Cargo Carriers Revenue: $49,744 thousand , decreasing by -2.1% in Q2 2026 due to a -3.8% volume change despite a 1.8% rate increase . This represented 3% of revenue in Q2 2026 .
• Other Revenue: $20,881 thousand, primarily from the insurance segment and intra-Mexico transportation services . Insurance premiums decreased by -1.3% in Q2 2026 .

Operational Metrics

• Gross Profit: $132,337 thousand, up 21.1% from $109,261 thousand . The gross profit margin was 9.2% . For YTD 2026, gross profit was $244,879 million, compared to $207,566 million in YTD 2025, with a gross profit margin of 9.4% .
• Variable Contribution: $199,429 thousand, up 17.0% from $170,450 thousand . The variable contribution margin was 13.9% in Q2 2026, compared to 14.1% in Q2 2025 . For YTD 2026, variable contribution was $371,580 million, compared to $331,760 million in YTD 2025, with a variable contribution margin of 14.3% .
• Operating Income: $66,228 thousand, a 17.7% increase from $56,280 thousand . Operating income as a percentage of variable contribution was 33.2% in Q2 2026, compared to 33.0% in Q2 2025 . For YTD 2026, operating income as a percentage of variable contribution was 32.2%, compared to 28.8% in YTD 2025 .

Operating Costs (Thirteen Weeks Ended June 27, 2026 vs. June 28, 2025)

• Purchased Transportation: $1,123,400 thousand, compared to $941,411 million in Q2 2025 .
• Commissions to Agents: $109,435 thousand, compared to $99,522 million in Q2 2025 .
• Other Operating Costs (net of gains on asset sales/dispositions): $17,945 thousand, compared to $19,595 million in Q2 2025 .
• Insurance and Claims Expenses: $39,359 thousand . Insurance-related costs were $39,716 million, compared to $30,793 million in Q2 2025 .
• Selling, General and Administrative Expenses: $68,193 thousand .
• Depreciation and Amortization: $10,409 thousand . Trailing equipment depreciation was $6,351 million, compared to $6,867 million in Q2 2025 .
• Information Technology Costs: $3,080 million, compared to $3,934 million in Q2 2025 .
• Total Costs and Expenses: $1,368,741 thousand . Total costs of revenue were $1,299,927 million, compared to $1,102,122 million in Q2 2025 .

Cash Flow (Thirteen Weeks Ended June 27, 2026 vs. June 28, 2025)

• Cash flow from operations: $27.8 million, down from $62.8 million in Q2 2025 .
• Capital Expenditures: $8.7 million, up from $4.4 million in Q2 2025 .
• Free Cash Flow: $19.1 million, down from $58.4 million in Q2 2025 .
• Share Repurchases: $24.1 million, down from $102.3 million in Q2 2025 . Landstar System, Inc. purchased 150,923 shares for $22.6 million during the first half of 2026 .
• Dividends Paid: $95.3 million, down from $97.2 million in Q2 2025 .

Unique Metrics

• BCO Truck Additions: Net 68 BCO truck additions during the second quarter of 2026 .
• Truck Revenue per Load: Increased approximately 17% in Q2 2026 compared to Q2 2025, reaching $2,614 . Van equipment revenue per load was $2,410, up from $2,081, and unsided/platform equipment revenue per load was $3,725, up from $3,108 .
• Number of Loads Hauled: Increased approximately 2% compared to Q2 2025, totaling 510,250 loads .
• Cash and Investments: Cash and short-term investments were approximately $348 million as of June 27, 2026 . Net cash, including cash and cash equivalents and short-term investments less outstanding debt, was $294.4 million as of June 27, 2026 .
• Return on Equity (Trailing 12 months): 16% as of June 27, 2026, compared to 17% as of June 28, 2025 .
• Return on Invested Capital (Trailing 12 months): 14% as of June 27, 2026, compared to 16% as of June 28, 2025 .
• Total Available Truck Capacity Providers: 72,326 as of June 27, 2026 . This includes 7,719 BCO Independent Contractors and 37,656 approved and active Truck Brokerage Carriers .

Outlook / Guidance

For July, Landstar System, Inc. observed truck loads approximately 5% above July 2025, which is slightly above typical historical trends . Truck revenue per load in July was approximately 26% above July 2025, also exceeding typical historical trends for the period . The Board of Directors declared a quarterly dividend of $0.44 per share, a 10% increase, and intends to continue paying dividends quarterly .