secwatch.observer — SEC 8-K summary
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Issuer:     LANDSTAR SYSTEM INC (LSTR)
CIK:        0000853816
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001193125-23-118611
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Landstar Q1 revenue $1.44B, EPS $2.17 vs $3.34 YoY; guides Q2 EPS $1.90-$2.00
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- Revenue $1.436B, down 27% YoY; DEPS $2.17, down 35% YoY.
- Truck rev/load -14% YoY; loads -12% YoY; variable contribution $208.7M vs $270.5M.
- Q2 2023 guidance: revenue $1.40B-$1.45B, DEPS $1.90-$2.00.
- Dividend held at $0.30/share payable May 26; repurchased 90k shares for $15.4M.
- Insurance/claims expense 5.3% of BCO revenue; effective tax rate 24.4% expected in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/853816/000119312523118611/0001193125-23-118611-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/853816/000119312523118611/d450998d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-118611

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer