secwatch.observer — SEC 8-K summary
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Issuer:     LANDSTAR SYSTEM INC (LSTR)
CIK:        0000853816
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0001193125-23-151824
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Landstar cuts Q2 2023 guidance: revenue $1.325B-$1.375B (below prior), EPS $1.75-$1.85
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- Revenue expected $1.325B-$1.375B vs prior $1.40B-$1.45B; midpoint $75M (5.3%) below prior midpoint.
- Diluted EPS guidance reduced to $1.75-$1.85 from prior $1.90-$2.00.
- Truck load volumes trending 16-18% lower YoY; revenue per load down 14-16% YoY.
- Updated guidance issued ahead of Wolfe Research conference; insurance and tax assumptions unchanged.
- CEO James Gattoni and CFO James Todd to present revised outlook on May 24, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/853816/000119312523151824/0001193125-23-151824-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/853816/000119312523151824/d298136d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-151824

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