Landstar delays Q1 results to May 13 over supply chain fraud; revenue in upper guidance half
Landstar System rescheduled its first quarter 2025 earnings release from April 29 to May 13, 2025, and expects to delay its Form 10-Q to the same date. The delay relates to the accounting and internal control review of a supply chain fraud in its international freight forwarding operations, which the company says is limited to one independent commission sales agency. Before recoveries and fees, the company does not expect the fraud to reduce net income by more than $15 million, or about $0.43 per share after tax.
Key points
- Q1 2025 total revenue was $1.153 billion, in the upper half of guidance.
- EPS before the fraud impact was $0.95, at the upper end of updated guidance.
- The fraud impact is not expected to exceed $15 million of net income, about $0.43 per share after tax, before legal fees and possible insurance recoveries.
- Cash and short-term investments were about $473 million as of March 29, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.