Filing Flows › Landstar System (LSTR) › Q3 2025
Landstar System (LSTR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Landstar System (LSTR) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), -0.7% from a year earlier and -0.5% from the quarter before. Operating margin was 2.2%, net earnings $19.4M (1.6% of revenue).
Landstar System, Q3 2025: revenue $1.2B (-0.7% year over year), operating margin 2.2%, net earnings $19.4M, operating cash flow $89.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -0.5% | -0.7% |
| Operating profit | $26.3M | -53% | -58% |
| Net earnings | $19.4M | -54% | -61% |
| Operating cash flow | $89.3M | 13× | +8% |
| Free cash flow | $86.0M | 18× | +14% |
What changed
Revenue was $1.2B in Q3 2025, down 1% year over year and roughly flat from the previous quarter. Transportation Logistics was the largest line at 99% of revenue. Transportation Logistics lost $0.01B year over year (down 1%), 89% of the total change.
Operating profit was $0.03B, a 2.2% margin (down 3.0 points year over year). Total costs grew 2% against a revenue fall of 1%. The fastest-growing cost line was SG&A (+11%). Net earnings were $0.02B, down 61% year over year. The effective tax rate was 25.8%.
Operating cash flow was $0.09B (up 8% year over year), 461% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $3.3M left free cash flow of $0.09B.
Questions
What was Landstar System's revenue in the third quarter 2025?
Landstar System (LSTR) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), -0.7% from a year earlier and -0.5% from the quarter before.
Was Landstar System profitable in the third quarter 2025?
Operating profit was $26.3M (2.2% of revenue) and net earnings $19.4M.
Source: Landstar System 10-Q on SEC EDGAR.