Landstar System Inc (LSTR) News & EventsLSTRLandstar System Inc

Landstar Declares Quarterly Dividend of $0.44 per Share

Landstar announced that its Board of Directors declared a quarterly dividend of $0.44 per share payable on September 9, 2026, to stockholders of record as of the close of business on August 18, 2026. This quarterly dividend includes a 10% increase over the amount of the Company's regular quarterly dividend declared following each of the prior five quarters. It is currently the intention of the Board to continue to pay dividends on a quarterly basis going forward. Landstar continues to return capital to stockholders through the Company's stock purchase program and dividends. While Landstar did not purchase shares in the second quarter, during the 2026 first half, Landstar purchased 150,923 shares of its common stock at an aggregate cost of $22.6 million. The Company is currently authorized to purchase up to an additional 1,115,195 shares of the Company's common stock under its longstanding share purchase program.

Landstar Q2 Revenue $1.43B Beats Expectations

Reports Q2 revenue $1.43B, consensus $1.34B. "The Landstar team of independent business owners and employees truly shined in a rapidly improving freight transportation backdrop. I was pleased that our network generated both truck volumes and truck revenue per load that outpaced normal seasonal patterns, with variable contribution increasing approximately 17% year-over-year," said Landstar President and Chief Executive Officer Frank Lonegro. "I was delighted to see our net 68 BCO truck additions during the second quarter, the strongest quarterly improvement since the first quarter of 2022. Although the Company experienced a lower DOT accident frequency during the 2026 first half, increased insurance and claims expense, primarily attributable to unfavorable development of prior years' claims, had an adverse impact on our second quarter results. The claim environment for freight transportation providers remains challenging, especially with the U.S. Supreme Court's recent Montgomery decision relating to potential broker liability."

Landstar Appoints William Clement as Chief Commercial Officer

Landstar System announced the appointment of William Clement as VP and chief commercial officer, or CCO, effective August 1. In this role as CCO and a member of Landstar's executive leadership team, Clement will lead Landstar's commercial strategy with primary responsibility for supporting the success of Landstar's independent agent network, advancing customer relationships, and enhancing the effectiveness of the entire commercial organization. Most recently, he served as group president and chief strategy officer for privately held CRST.