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# Landstar Third-Quarter EPS Jumps 154% To $1.42, But Insurance Costs Climb To $55.3 Million
- URL: https://www.bullished.co/landstar-third-quarter-eps-jumps-154-to-1-42-but-insurance-costs-climb-to-55-3-million-00af1427/
- Published: 2026-10-27T20:41:01.000Z
- Updated: 2026-10-28T15:39:10.000Z
- Description: Truck revenue rose 29% and the freight network added 165 net owner-operator trucks, while claims costs ate into the quarter.
- Author: Matteo Parrino
- Tags: Earnings, LSTR, Industry: Industrials

[Landstar System](https://www.bullished.co/tag/lstr/), which arranges freight transportation through independent agents and outside truck operators, said Tuesday that third-quarter [earnings per share rose 154% to $1.42](https://www.globenewswire.com/news-release/2026/10/27/3389612/0/en/landstar-system-reports-third-quarter-revenue-of-1-512b-and-earnings-per-share-of-1-42.html?ref=bullished.co) on revenue up 25%. Insurance and claims costs of $55.3 million, up from $33.0 million a year earlier, held back the result, the company said in an [8-K filing](https://www.sec.gov/Archives/edgar/data/0000853816/000119312526434270/d176512d8k.htm?ref=bullished.co).

## Freight volume and pricing drove the top line

Revenue reached [$1.512 billion](https://www.sec.gov/Archives/edgar/data/0000853816/000119312526434270/d176512dex991.htm?ref=bullished.co), against $1.205 billion in the year-earlier quarter. Operating income rose 149% to $65.5 million, and net income was $48.0 million versus $19.4 million.

Truck revenue climbed 29% to [$1.407 billion](https://www.globenewswire.com/news-release/2026/10/27/3389612/0/en/landstar-system-reports-third-quarter-revenue-of-1-512b-and-earnings-per-share-of-1-42.html?ref=bullished.co). Revenue per load rose about 25% and loads hauled rose about 3%. Van and unsided/platform equipment revenue each rose more than 30%.

Gross profit rose 14%, while variable contribution, which is revenue less purchased transportation and agent commissions, rose 25%. Gross profit margin slipped to 8.4% from 9.2%.

CEO Frank Lonegro said the network added a net 165 owner-operator trucks, the "strongest quarterly improvement since the third quarter of 2021." He also said the owner-operators cut DOT accident frequency 5% from a year earlier.

## Claims costs and an easy comparison

Insurance and claims expense included about $13.0 million, or $0.29 per share, of adverse adjustments to reserves. It also carried $8.0 million, or $0.18 per share, tied to settlements of a 2024 brokered truck accident claim and a 2025 accident involving an owner-operator. Lonegro said: "we are not immune to the challenges of the insurance and claims inflation prevalent in our industry."

The year-earlier quarter bore $30.1 million of non-cash impairment charges, or $0.66 per share, from a strategic review. That makes the 154% EPS gain a softer comparison than it looks.

## Buybacks, dividend and October trends

Landstar bought back 232,645 shares for $41.4 million in the quarter and can repurchase up to 882,550 more. It ended the period with about $351 million in cash and short-term investments.

A slide deck showed October truck loads about 7% above October 2025, with revenue per load about 29% higher. The company declared a quarterly dividend of $0.44 per share, payable December 8 to holders of record on November 17.

Landstar's trailing-twelve-month return on average shareholders' equity stood at 19%, with the company's quarterly dividend set at $0.44 per share.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — LANDSTAR SYSTEM INC (LSTR)](https://www.sec.gov/Archives/edgar/data/0000853816/000119312526434270/d176512d8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d176512dex991.htm — LANDSTAR SYSTEM INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000853816/000119312526434270/d176512dex991.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d176512dex992.htm — LANDSTAR SYSTEM INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000853816/000119312526434270/d176512dex992.htm?ref=bullished.co) — SEC EDGAR
- [Landstar System Reports Third Quarter Revenue of $1.512B](https://www.globenewswire.com/news-release/2026/10/27/3389612/0/en/landstar-system-reports-third-quarter-revenue-of-1-512b-and-earnings-per-share-of-1-42.html?ref=bullished.co) — globenewswire.com

### More on Landstar System

- [Landstar CEO Rules Out Big Brokerage Purchase, Favors 'Little M&A' To Win Agents](https://www.bullished.co/landstar-ceo-rules-out-big-brokerage-purchase-favors-little-m-and-a-to-win-agents-aae09cae/)
- [Landstar CFO Calls $35 Million A Quarter In Insurance Costs 'Too Light' After $22 Million Hit](https://www.bullished.co/landstar-cfo-calls-35-million-a-quarter-in-insurance-costs-too-light-after-22-million-hit-404943c5/)

[All Landstar System (LSTR) coverage →](https://www.bullished.co/tag/lstr/)