LSTR Nasdaq Russell 1000 Earnings call
Landstar (LSTR) · Q2 2026 results and valuation
Share price: $147.31 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 28 Jul 2026 and 28 Apr 2026
Net income up 24.1% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+24.1%
Net income vs Q1 2026
Net income 49.0M vs 39.4M
Revenue +22.3%
Against the same quarter last year (Q2 2025) it is +16.8%, so it is not just seasonal.
2 · How management spoke
Typical
More upbeat than 53% of company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out Nothing unusual flagged this period.
Valuation
Is Landstar undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-27), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −13.9% growth a year (3-year revenue growth), the model's fair value is $38.44 a share — the stock trades 283% above it. Today's price assumes 8.8% growth a year.
Current price
$147.31
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+8.8% for 10 yrs
Fair value / share
$38.44
Buy below
$28.83
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Figure
Landstar is also very pleased to see its trailing 12-month BCO truck turnover rate dropped from 31.4% and as of fiscal…
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“As Frank mentioned earlier, overall truck revenue per load increased 17% in the 2026 second quarter compared to the 2025 second quarter, primarily attributable to a 19.9% increase in revenue...”
“On a sequential basis, truck revenue per load increased 14.4% in the 2026 second quarter versus the 2026 first quarter, that represents the largest sequential increase in truck revenue per...”
“This achievement was driven by a 9% increase in heavy haul volume and an 8% increase in heavy haul revenue per load.”
Full figures
USD · ROIC.AI fundamentals (NASDAQ:LSTR, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-28 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.43B | 1.17B | +22.3% | 1.21B | +18.2% |
| Gross profit | 189.0M | — | — | ||
| Operating income | 63.5M | 53.2M | +19.3% | 56.3M | +12.9% |
| Net income | 49.0M | 39.4M | +24.1% | 41.9M | +16.8% |
| EPS | 1.44 | 1.16 | +24.4% | 1.20 | +20.2% |
| P/E today 47.3 | — | 43.2 | — | 29.2 | — |
Topics
Most discussed now
- New This newly created position will leverage Jim's deep transportation and logistics experience and unique skill set as Landstar strengthens…
- New I do think back to the point Landstar talked about earlier on being attractive to small and medium-sized brokers like...
- They are exceptional business leaders and key to driving the continued success of Landstar's business model.
- Bill brings more than 30 years of transportation and logistics leadership experience with him to Landstar.
- Bill will be charged with supporting the success of Landstar's agent network, advancing customer relationships and enhancing the…
Faded since Q1 2026
- Dropped Such information is, by nature, subject to uncertainties and risks, including, but not limited to, the operational, financial and legal...
- Dropped Work internally to put the right leadership
- Fading Strategic growth areas that Landstar put forward
- Fading I'd say that Landstar probably got religion a little bit earlier than most because it did have [indiscernible] about a...
Latest announcements
Official filings, newest first.
- Results of operations; Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K