Landstar Q1 Interest Income Down, Expenses Up

Ticker: LSTR · Form: 10-Q · Filed: 2025-05-13T00:00:00.000Z

Sentiment: neutral

Topics: earnings, financials, transportation, interest-rates

TL;DR

Landstar's Q1 interest income dropped to $1.67M from $2.5M last year, while interest expense jumped to $1.51M from $889K.

AI Summary

Landstar System Inc. reported its first quarter 2025 results, with interest income on cash balances in the transportation logistics segment totaling $1,668 for the thirteen-week period ending March 29, 2025. This compares to $2,500 earned in the same period of 2024. Consolidated total interest expense was $1,509 for the thirteen-week period of 2025, up from $889 in the comparable 2024 period.

Why It Matters

Changes in interest income and expense can reflect shifts in cash management strategies and prevailing interest rates, impacting the company's overall profitability.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

$1.67M — Interest Income (Q1 2025) (Lower interest income compared to the prior year's period.)
$2.5M — Interest Income (Q1 2024) (Higher interest income in the prior year's period.)
$1.51M — Interest Expense (Q1 2025) (Increased interest expense compared to the prior year's period.)
$0.89M — Interest Expense (Q1 2024) (Lower interest expense in the prior year's period.)

Key Players & Entities

Landstar System Inc. (company) — Filer of the 10-Q
$1,668 (dollar_amount) — Interest income earned on cash balances in Q1 2025
$2,500 (dollar_amount) — Interest income earned on cash balances in Q1 2024
$1,509 (dollar_amount) — Consolidated total interest expense in Q1 2025
$889 (dollar_amount) — Consolidated total interest expense in Q1 2024
20250329 (date) — End of the reporting period for Q1 2025

FAQ

What is the primary reason for the decrease in interest income earned on cash balances for Landstar System Inc. in Q1 2025 compared to Q1 2024?

The filing does not explicitly state the reason, but a decrease in interest income typically suggests lower average cash balances or lower prevailing interest rates.

What factors contributed to the increase in consolidated total interest expense for Landstar System Inc. in Q1 2025?

The filing does not detail the specific factors, but an increase in interest expense could be due to higher debt levels, increased borrowing costs, or changes in financing arrangements.

What is the reporting period for this 10-Q filing?

The conformed period of report is March 29, 2025.

What is the SIC code for Landstar System Inc.?

The Standard Industrial Classification code is 4213, which corresponds to TRUCKING (NO LOCAL).

What is the business address of Landstar System Inc.?

The business address is 13410 Sutton Park Drive South, Jacksonville, FL 32224.

From the Filing

0001193125-25-118922.txt : 20250513 0001193125-25-118922.hdr.sgml : 20250513 20250513170438 ACCESSION NUMBER: 0001193125-25-118922 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 76 CONFORMED PERIOD OF REPORT: 20250329 FILED AS OF DATE: 20250513 DATE AS OF CHANGE: 20250513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LANDSTAR SYSTEM INC CENTRAL INDEX KEY: 0000853816 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] ORGANIZATION NAME: 01 Energy & Transportation EIN: 061313069 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-21238 FILM NUMBER: 25941199 BUSINESS ADDRESS: STREET 1: 13410 SUTTON PARK DRIVE SOUTH CITY: JACKSONVILLE STATE: FL ZIP: 32224 BUSINESS PHONE: 9043989400 MAIL ADDRESS: STREET 1: LANDSTAR SYSTEM INC STREET 2: 13410 SUTTON PARK DRIVE SOUTH CITY: JACKSONVILLE STATE: FL ZIP: 32224 10-Q 1 d807088d10q.htm 10-Q 10-Q Table of Contents false Q1 0000853816 --12-30 Interest and debt (income) expense includes (1) interest income earned on cash balances held by the transportation logistics segment of $1,668 and $2,500 in the 2025 and 2024 thirteen-week periods, respectively and (2) consolidated total interest expense of $1,509 and $889 in the 2025 and 2024 thirteen-week periods, respectively. Includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue generated by the transportation logistics segment. Power-only refers to shipments where the Company furnishes a power unit and an operator but not trailing equipment, which is typically provided by the shipper or consignee. 0000853816 2024-12-29 2025-03-29 0000853816 2023-12-31 2024-03-30 0000853816 2025-03-29 0000853816 2024-12-28 0000853816 2025-01-31 2025-01-31 0000853816 2025-04-21 0000853816 2023-04-01 2024-03-31 0000853816 2022-04-01 2023-03-31 0000853816 2024-03-30 0000853816 2023-12-30 0000853816 us-gaap:AssetBackedSecuritiesMember 2025-03-29 0000853816 us-gaap:MoneyMarketFundsMember 2025-03-29 0000853816 lstr:CorporateBondsCommercialPaperAndDirectObligationsOfGovernmentAgenciesMember 2025-03-29 0000853816 us-gaap:USTreasurySecuritiesMember 2025-03-29 0000853816 us-gaap:RevolvingCreditFacilityMember 2025-03-29 0000853816 lstr:GuaranteePaymentOfInsuranceClaimsMember 2025-03-29 0000853816 lstr:TwoThousandElevenEquityIncentivePlanMember 2025-03-29 0000853816 lstr:TwoThousandAndTwentyTwoDirectorsStockCompensationPlanMember 2025-03-29 0000853816 us-gaap:RestrictedStockUnitsRSUMember 2025-03-29 0000853816 lstr:NonVestedRestrictedStockAndDeferredStockUnitsMember 2025-03-29 0000853816 us-gaap:RevolvingCreditFacilityMember srt:MinimumMember 2025-03-29 0000853816 lstr:NonCurrentInvestmentsMember 2025-03-29 0000853816 srt:MinimumMember 2025-03-29 0000853816 srt:MaximumMember 2025-03-29 0000853816 us-gaap:CollateralPledgedMember lstr:CurrentInvestmentsMember 2025-03-29 0000853816 us-gaap:CollateralPledgedMember lstr:NonCurrentInvestmentsMember 2025-03-29 0000853816 lstr:TransportationLogisticsMember 2025-03-29 0000853816 us-gaap:MoneyMarketFundsMember 2024-12-28 0000853816 us-gaap:AssetBackedSecuritiesMember 2024-12-28 0000853816 lstr:CorporateBondsCommercialPaperAndDirectObligationsOfGovernmentAgenciesMember 2024-12-28 0000853816 us-gaap:RevolvingCreditFacilityMember 2022-07-01 0000853816 us-gaap:RevolvingCreditFacilityMember srt:MaximumMember 2022-07-01 0000853816 us-gaap:RevolvingCreditFacilityMember 2022-07-01 2022-07-01 0000853816 lstr:DevelopmentOfPriorYearSelfInsuredClaimsEstimatesMember 2024-12-29 2025-03-29 0000853816 lstr:TransportationLogisticsMember 2024-12-29 2025-03-29 0000853816 us-gaap:RelatedPartyMember lstr:TransportationLogisticsMember 2024-12-29 2025-03-29 0000853816 lstr:InsuranceMember 2024-12-29 2025-03-29 0000853816 us-gaap:RelatedPartyMember lstr:InsuranceMember 2024-12-29 2025-03-29 0000853816 us-gaap:RelatedPartyMember 2024-12-29 2025-03-29 0000853816 lstr:NonVestedRestrictedStockAndDeferredStockUnitsMe