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Canada Pension Plan Investment Board purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,000 shares of the transportation company’s stock, valued at approximately $3,102,000.

A number of other institutional investors and hedge funds have also modified their holdings of LSTR. Legal & General Group Plc bought a new stake in shares of Landstar System during the 2nd quarter worth $10,522,000. The Manufacturers Life Insurance Company bought a new position in Landstar System in the 2nd quarter worth $4,854,000. Cibc World Market Inc. acquired a new position in Landstar System during the 2nd quarter worth $3,225,000. Sanctuary Advisors LLC acquired a new position in Landstar System during the 2nd quarter worth $1,412,000. Finally, Twin Tree Management LP bought a new stake in Landstar System during the second quarter valued at about $121,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Price Performance Shares of LSTR opened at $180.03 on Monday. The company has a 50-day simple moving average of $195.27 and a 200-day simple moving average of $182.05. The firm has a market capitalization of $6.11 billion, a P/E ratio of 46.64 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46.

Landstar System (NASDAQ:LSTR – Get Free Report) last released its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Landstar System, Inc. will post 5.84 earnings per share for the current year. Landstar System Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is 45.60%.

Insider Activity at Landstar System In related news, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the sale, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades Several equities research analysts have recently issued reports on the company. Zacks Research raised Landstar System from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Truist Financial increased their target price on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on Landstar System from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Susquehanna lifted their price target on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $196.00.

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Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

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Posted by Defense World Staff on Aug 14th, 2026

Bank of America Corp DE raised its position in Landstar System, Inc. (NASDAQ:LSTR – Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,112 shares of the transportation company’s stock after purchasing an additional 29,595 shares during the period. Bank of America Corp DE owned about 0.74% of Landstar System worth $40,095,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Citizens Bank & Trust Co. grew its stake in Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock worth $755,000 after acquiring an additional 68 shares during the period. Petros Family Wealth LLC grew its position in shares of Landstar System by 4.9% in the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Landstar System by 29.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 78 shares during the period. SkyView Investment Advisors LLC increased its stake in Landstar System by 1.4% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 89 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Landstar System by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock worth $1,120,000 after buying an additional 91 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets In related news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.74% of the company’s stock.

Landstar System Trading Up 1.5% Shares of LSTR opened at $188.64 on Friday. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The stock’s 50-day moving average is $202.64 and its two-hundred day moving average is $179.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $6.40 billion, a PE ratio of 48.87 and a beta of 0.90.

Landstar System (NASDAQ:LSTR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $1.20 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Landstar System, Inc. will post 5.82 earnings per share for the current fiscal year.

Landstar System announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Landstar System Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is presently 41.45%.

Analyst Ratings Changes Several research analysts have recently weighed in on LSTR shares. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Evercore set a $181.00 price target on shares of Landstar System in a report on Wednesday, April 29th. Robert W. Baird dropped their price objective on Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group increased their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $196.00.

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Key Stories Impacting Landstar System Here are the key news stories impacting Landstar System this week:

Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2026 EPS to $5.61 from $5.45, FY2027 EPS to $7.22 from $6.88, and FY2028 EPS to $8.03 from $7.69. Quarterly forecasts were also increased, and Zacks maintained a “Strong-Buy” rating, signaling improved confidence in Landstar’s future profitability. Zacks Research estimate revisions Positive Sentiment: Landstar’s latest dividend increase reinforces its shareholder-return strategy. The company’s history of raising dividends is being viewed as evidence of financial strength and could appeal to income-focused investors. Should Investors Buy Landstar Stock Post Latest Dividend Hike? Neutral Sentiment: Landstar reported strong revenue growth in its most recent quarter, but earnings slightly missed estimates. Revenue rose 18.2% year over year to $1.43 billion, while EPS of $1.44 fell short of the $1.49 consensus. This mixed performance may limit the immediate upside from the bullish long-term forecasts. Negative Sentiment: Regulatory uncertainty remains a risk. A Seeking Alpha analysis argued that the Supreme Court’s decision to eliminate certain federal protections could expose Landstar to greater legal, operating or cost pressures, leading the author to assign the stock a “Hold” view rather than a more bullish rating. Landstar System: Why the Supreme Court’s Decision Makes It a Hold Landstar System Profile (Free Report)

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

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Key Takeaways Landstar's Q2 earnings rose 20% as revenues climbed 18.2%, strengthening its near-term buy case.Truck revenue per load jumped 17% in Q2 and about 26% in July, driving Landstar's pricing momentum.Rising estimates and price-target upside support Landstar, though valuation and cash flow remain concerns. Landstar System, Inc. (LSTR - Free Report) has a stronger near-term investment case after its second-quarter rebound in revenues, earnings and freight pricing. The stock’s Zacks Rank #1 (Strong Buy), favorable estimate revisions and price-target upside support a positive view.

The case is not without offsets. Shares have already rallied, valuation is above Landstar’s five-year median and cash-flow trends weakened in the first half, leaving the stock dependent on continued pricing strength and freight-market recovery.

LSTR’s Earnings Beat Strengthens the Buy CaseLandstar reported second-quarter 2026 earnings of $1.44 per share, up 20% year over year. The result came in 1.4% above the Zacks Consensus Estimate.

Revenues rose 18.2% year over year to $1.43 billion and exceeded expectations by 8.3%. Operating income increased 17.7% to $66.2 million, showing that better freight conditions translated into higher profitability despite claims-related pressure.

Landstar’s Freight Pricing Shows MomentumTruck pricing was the key driver. Truck revenues rose 19.3% year over year, supported by a 17% increase in truck revenue per load and a 1.9% increase in truck volumes.

The trend continued into the third quarter. Management said that July truck loads were approximately 5% above the prior-year level, while July truck revenue per load was approximately 26% higher year over year.

That pricing improvement is central to the earnings-recovery thesis. Landstar’s asset-light model can benefit when freight rates improve because higher revenue per load can lift variable contribution, provided insurance, claims and selling costs remain controlled.

LSTR’s Estimates Point to Faster GrowthThe Zacks Consensus Estimate points to 2026 earnings growth of 28.9% and sales growth of 14.3%. For 2027, earnings are projected to be $7.32 per share.

Estimate revisions also support the near-term signal. The full-year earnings estimate has increased 2.5% over the past four weeks, indicating that analysts are giving more credit to Landstar’s rate recovery and revenue momentum.

Landstar’s Cash Returns Reward ShareholdersLandstar returned nearly $120 million to shareholders through dividends ($95.3 million) and share repurchases ($24.1 million) during the first half of 2026. As a reflection of its shareholder-friendly stance, in 2022, 2023, 2024 and 2025, LSTR paid dividends of $115.6 million, $117.1 million, $120.5 million and $124.7 million, respectively. Landstar is also active on the buyback front. LSTR repurchased shares worth $285.9 million in 2022, $53.9 million in 2023, $81.4 million in 2024 and $179.8 million in 2025.

Concurrent with its second-quarter 2026 earnings release, Landstar’s board of directors approved a dividend, thereby raising its quarterly cash dividend to 44 cents per share ($1.76 annualized) from 40 cents ($1.60 annualized). The raised dividend will be paid out on Sept 9, 2026, to shareholders of record at the close of business on Aug 18. The move reflects LSTR’s intention to utilize free cash to enhance its shareholders’ returns.

LSTR trades at 23.37X forward 12-month earnings. That is below the truck sub-industry’s 25.64X but above Landstar’s five-year median of 21.88X.

The multiple is not excessive versus the group, but it is not a clear bargain against the company’s own history. It assumes that stronger truck rates, better load activity and earnings growth will continue, rather than fading after one stronger quarter.

LSTR’s Price Target Suggests Meaningful UpsideLandstar’s $222 price target compares with a reported share price of $179.35. That points to meaningful implied upside from that level.

The upside should be weighed against the stock’s recent run. Shares are up 23% year to date and 38% over the trailing 12 months, so further appreciation likely depends on sustained pricing, improving demand and better cash conversion.

Landstar’s balance sheet helps, but cash-flow trends are less favorable. The company had $348 million in cash and short-term investments at quarter-end, while first-half operating cash flow fell to $27.8 million from $62.8 million and free cash flow declined to $19.1 million from $58.4 million.

LSTR’s Scores Favor Near-Term BuyersThe bottom line: Landstar’s earnings rebound, freight-pricing momentum, rising estimates and price-target upside support a positive short-term view.

The stock currently carries a Zacks Rank #1 (Strong Buy), and its Momentum Score of A strengthens the near-term case. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Value Score of D, Growth Score of D and VGM Score of D temper that signal, suggesting LSTR’s appeal rests more on estimate momentum and price strength than on a uniformly favorable factor profile.

Vancouver, British Columbia--(Newsfile Corp. - August 5, 2026) - Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) (FSE: PR90) ("Lodestar" or the "Company"), an exploration company focused on unlocking world-class gold potential, reports assay results from the first six reverse-circulation ("RC") holes of its maiden 2,680m drill program at the flagship Gold Run project in Nevada. The initial 1,143 m of drilling at the Robbers Knob target identified multiple gold-silver mineralisation styles and strong bulk-tonnage potential.

Highlights:

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)StyleLSRC04132.6149.416.86.0741.1--vein/shoot including132.6135.63.031.90181.6--
LSRC0389.9160.070.10.546.7

oxide Au-AgLSRC02161.5176.815.20.3716.00.270.40Au-Ag polymetallicNote: Assay intervals presented above are hole lengths; true widths are estimated to be 85-95%.

Three mineralisation styles demonstrated at Robbers Knob: broad, near-surface oxide gold-silver intercepts over 30-70 m, comparable to grades exploited in large open-pit, heap-leach operations in northern Nevada; high-grade gold-silver shoots/veins; and a deeper gold-silver polymetallic zone. Detailed magnetics and IP data defined untested chargeability anomalies and northwest-trending structures that provide clear vectors for follow-up drilling.Assays pending for 12 additional RC holes (1,537 m) across three priority targets: Gomes, Black Diamond and Crown North. "These initial results from Robbers Knob validate our geological model and confirm a robust gold-silver system with both bulk-tonnage oxide mineralisation and structurally controlled higher-grade zones," said Lowell Kamin, President & CEO of Lodestar Metals. "We are particularly encouraged by the consistency across multiple holes and the clear vectors for potential expansion highlighted by our geophysical data. With additional assays pending across several targets, we believe this program marks an important step in defining the broader scale potential of the Gold Run project."

5mm

Figure 1. UAV Magnetics map (TMIRTP) showing structural interpretation, maximum gold assays from previous drilling and highlighting assay results from the 2026 drilling at Robbers Knob

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3029/307930_681bee36248c0803_003full.jpg

The maiden RC drill program tested four high-priority gold-silver targets across Gold Run and comprised 18 holes totaling 2,680 m. Final assays have now been received for the first six holes at Robbers Knob, while results are pending for the remaining 12 holes testing Gomes, Black Diamond and Crown North.

Robbers Knob Drill Results

Drilling at Robbers Knob has confirmed three mineralisation styles with clear expansion potential: a shallow bulk-tonnage oxide gold-silver system, a higher-grade structurally controlled gold-silver zone, and a deeper gold-silver polymetallic zone. Figure 1 highlights the structural setting and shows how current drilling aligns with interpreted northwest-trending faults and nearby geophysical targets.

Bulk-Tonnage Gold-Silver Oxide

Broad oxide gold-silver mineralisation was intersected in four holes across the main southern section of Robbers Knob, primarily within a weathered zone at depths of approximately 40 m to 150 m. Key intercepts include 62.5 m grading 0.6 g/t Au and 7.0 g/t Ag from 97.5 m in LSRC03, 36.6 m grading 0.3 g/t Au and 6.0 g/t Ag from 50.3 m in LSRC02, 30.5 m grading 0.3 g/t Au and 6.8 g/t Ag from 51.8 m in LSRC01, and 36.6 m grading 0.2 g/t Au and 3.7 g/t Ag from 137.2 m in LSRC05.

Figure 2. Southern cross section at Robbers Knob showing the geology, oxidation and significant intercepts from LSRC-01, 2, 3 and 5.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3029/307930_681bee36248c0803_004full.jpg

Figure 2 illustrates the continuity of the shallow oxide system across the southern section of Robbers Knob. These results support the interpretation of a broad oxide gold-silver target with characteristics comparable to bulk-tonnage, heap-leach style mineralisation seen elsewhere in northern Nevada held by adjacent mining companies Nevada Gold Mines and SSR Mining.

High Grade Gold-Silver Shoots/Veins

Infill hole LSRC04 confirmed the presence of higher-grade gold-silver mineralisation within the broader Robbers Knob system. The hole returned 16.8 m grading 6.1 g/t Au and 41.1 g/t Ag from 132.6 m, including 3.0 m grading 31.9 g/t Au and 181.6 g/t Ag. These results support the interpretation of structurally controlled higher-grade zones that could be repeated along northwest-oriented faults identified in magnetics and mapping (Figure 1).

Figure 3. Northern cross section at Robbers Knob showing the geology, oxidation and significant intercepts from LSRC-04.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3029/307930_681bee36248c0803_005full.jpg

Figure 3 highlights the higher-grade zone intersected in LSRC04 and supports the interpretation that structurally controlled shoots or veins occur within the broader mineralised system. Future exploration may prove that these higher-grade zones provide an important complementary upside to the shallow bulk-tonnage oxide mineralisation.

Deeper Gold-Silver Polymetallic Zone

Deeper drilling also intersected a style of mineralisation not previously recognized in historical drilling at Robbers Knob. Beginning at 161.5 m in LSRC02, the Company intersected 15.2 m of polymetallic mineralisation grading 0.37 g/t Au, 16 g/t Ag, 0.40% Zn, and 0.27% Pb, associated with black manganese oxide and sulphide in fresh rock.

This deeper polymetallic zone represents an additional target horizon beneath the shallow oxide system. Follow-up drilling is expected to test the scale and continuity of this deeper mineralisation.

Expansion Targets

Recent DDIP and drone-supported magnetic surveys have strengthened the Company's targeting model at Robbers Knob. The geophysical data define chargeability anomalies immediately west and north of the current drilling (Figure 4), while magnetics indicate northwest-trending structures that may control higher-grade mineralisation (Figure 1).

Figure 4. 3D view looking north and down of the DDIP showing the new drill results and other Lodestar holes with outstanding assays

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3029/307930_681bee36248c0803_006full.jpg

Figure 4 shows the Robbers West and Robbers North anomalies, which extend beyond the current drill footprint and may represent deeper sulphide mineralisation underlying the shallow oxide system. These anomalies, together with the structural interpretation shown in Figure 1, provide clear targets for follow-up drilling.

Pending Assays

Assays are pending for 12 additional holes totaling 1,537 m from three priority targets across Gold Run. These include Gomes, where drilling targeted historical gold-silver mineralisation and an IP anomaly; Black Diamond, where drilling tested high-grade silver-gold mineralisation and two chargeability IP anomalies; and Crown North, where drilling tested the projected northern extension of the Adelaide Crown epithermal gold deposit held by Nevada Gold Mines.

Sampling Procedures and QA/QC

RC holes were drilled by HD Drilling using a 5.5″ hammer with a 5¼″ M40CC hammer bit and reverse circulation methods to minimize contamination and maximise sample size. In some deeper sections of certain RC holes, a 5″ hammer was used to achieve greater depth penetration.

Reverse circulation (RC) drilling was used to obtain representative drill cuttings for geological logging and laboratory assaying. Samples were collected at 5 ft (1.52 m) intervals. Drill cuttings from each interval passed through the cyclone and were split using a rig-mounted rotary splitter. A representative split of approximately 4-9 kg was collected into cloth sample bags for assay. RC drilling was conducted dry where practicable. Where wet RC drilling was required to maintain drilling performance in some deeper or more difficult sections, samples were collected at the same 5 ft intervals using a rotary wet splitter, and recorded by the project manager on the sampling cut sheet for later reference. The drilling contractor cleaned the rig-mounted rotary cone splitter at regular intervals and as required to minimize contamination between samples. RC samples were collected from 5 ft bulk samples using the A-chute of the splitter attached directly to the cyclone. Overall, the drilling and sampling procedures were designed to maximise sample recovery, reduce fines loss, and maintain representative RC samples for geological logging and assay. Cloth bags were marked by the program manager with the drill hole ID and sample interval/footage to maintain sample identification and traceability. All 5 ft split samples were submitted to the laboratory for analysis. All samples are transported in large bags sealed with numbered security tags. The sample bags are picked up by a service contracted by Bureau Veritas to transport the samples directly from site to their facility in Reno, Nevada. The sampling approach is considered appropriate for RC drilling and for the style of mineralisation being tested.

The QA/QC procedure adopted is approximately 3 blank samples per 100 samples, 2 standard samples of known gold and silver grades per 100 samples and 3 field duplicates per 100 samples. All QA/QC samples were within expected tolerances.

RC samples were prepared by Bureau Veritas located in Sparks, Nevada USA using preparation code WGHT. This procedure involved crushing samples to 70% passing 2 mm and pulverising the entire sample to 85% passing 75 µm. Gold analyses were completed in Bureau Veritas located in Vancouver, Canada on a 30 g charge using lead collection fire assay with an atomic absorption spectroscopy (AAS) finish (method FA430). Samples returning over-limit gold values were re-analyzed using a gravimetric finish (method FA530). Multi-element analyses were completed were completed in Bureau Veritas located in Vancouver, Canada following four-acid digestion with inductively coupled plasma optical emission spectroscopy (ICP-ES) using method MA300, which provides analyses for a broad suite of exploration elements. Bureau Veritas applies internal laboratory QA/QC procedures as part of its analytical process. Final analytical results were reported in certified laboratory assay certificates provided to the Company's management and technical team. Bureau Veritas Minerals laboratories operate under an ISO/IEC 17025:2017 accredited quality management system for the relevant mineral analytical methods. The sample preparation and analytical methods are considered appropriate for RC drill-chip samples and for the style of gold and polymetallic mineralisation being tested. True widths of the assay intervals are estimated to be 85-95% of the reported drill hole lengths.

Additional Information

1 A summary of drill targets and intercepts and supporting technical data was provided in the Company's December 2, 2025 news release.

2 The Company has identified historical drill intercepts interpreted from the Property's historical database, which was acquired. The Company has not previously verified the intercepts, and limited information is available regarding sampling methodologies, analytical procedures, and associated QA/QC protocols. The historical intercepts are considered relevant for the purposes of exploration targeting, which is intended to validate and assess the continuity and reliability of the reported mineralisation. Readers are cautioned that the historical information should not be relied upon until it has been independently verified.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Leo Horn, who is the Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Horn is a consulting director to the Company and is a member of the Australasian Institute of Geoscientists (MAIG). Mr. Horn has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activities being undertaken, to qualify as a Qualified Person as defined by NI 43-101. Mr. Horn has reviewed and verified the technical information contained in this news release and consents to the disclosure of such information in the form and context in which it appears. The Company is not aware of any new information or data that materially affects the scientific or technical information disclosed in this news release.

ABOUT LODESTAR METALS

Lodestar Metals Corp. is a Canadian gold exploration company focused on advancing the Gold Run Project in Nevada, strategically located on a major Carlin-type gold trend and adjacent to some of the largest gold deposits in North America. With decades of combined geological and capital markets expertise, Lodestar follows a disciplined, step-by-step approach to discovery. The Company's strategy is clear: focus capital on high-value targets, move quickly on known mineralisation, and build a compliant gold resource that delivers lasting shareholder value. For more information, please visit www.lodestarmetals.ca.

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Table 1: Drilling details for the first 6 holes of Lodestar's recent RC Drill Program at Robbers Knob

Hole_IDX(NAD83)Y (NAD 83)Elevation (m)Final Depth (m)AzimuthDipLSRC-0145510945188701894.8147.864.7-44.5LSRC-0245507445188801891.8213.489.8-44.7LSRC-0345503745188841889.816085.9-49.4LSRC-0445496845189471872.8201.288.0-44.8LSRC-0545500245188801889.0217.991.2-59.8LSRC-0645513545190101861.7202.7102.1-49.3Table 2: Composite assay results for the first 6 holes of Lodestar's recent RC Drill Program at Robbers Knob

HoleIDFromToInterval(m)Au g/tAg g/tPb %Zn %Cut-off Au g/tLSRC0151.882.330.50.336.8

0.1including61.176.215.10.5111.1

0.3including65.573.27.60.7915.2

0.5
135.6147.812.20.177.0

0.1including141.7147.86.10.217.0

0.2LSRC0250.386.936.60.276.0

0.1including85.388.43.00.532.9

1.0
117.3135.618.30.605.4

0.1including120.4132.612.20.755.1

0.5including125.0129.54.61.082.5

1.0
160.0178.318.30.3313.90.230.350.1including161.5176.815.20.3716.00.270.40.3LSRC0389.9160.070.10.546.7

0.1including97.5160.062.50.587.0

0.3including97.599.11.53.394.3

1.0also including111.3115.84.61.055.7

1.0including123.4160.036.60.609.1

0.3including147.8160.012.21.0311.0

0.5LSRC0494.5111.316.80.118.8

0.1
96.099.13.00.2320.7

0.2including132.6149.416.86.0741.1

0.5including132.6135.63.031.90181.6

1.0LSRC05137.2173.736.60.243.7

0.1including158.5160.01.50.629.0

0.5also including169.2172.23.00.548.4

0.5LSRC0645.753.37.60.105.0

0.1
80.883.83.00.134.9

0.1
108.2109.71.50.104.2

0.1
155.4158.53.00.145.6

0.1Note: Assay intervals presented above are hole lengths; true widths are estimated to be 85-95%.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307930

Source: Lodestar Metals Corp.

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JACKSONVILLE, Fla., July 28, 2026 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ: LSTR) (“Landstar” or the “Company”) today reported its financial results for the 2026 second quarter. The Company reported total revenue of $1.432 billion in the 2026 second quarter, an increase of 18% as compared to revenue of $1.211 billion in the 2025 second quarter, and basic and diluted earnings per share (“EPS”) of $1.44 in the 2026 second quarter, an increase of 20% as compared to EPS of $1.20 per share in the 2025 second quarter. The Company also reported a 21% increase in gross profit and a 17% increase in variable contribution (defined as revenue less the cost of purchased transportation and commissions to agents) in the 2026 second quarter, as compared in each case to the 2025 second quarter.

“The Landstar team of independent business owners and employees truly shined in a rapidly improving freight transportation backdrop. I was pleased that our network generated both truck volumes and truck revenue per load that outpaced normal seasonal patterns, with variable contribution increasing approximately 17% year-over-year,” said Landstar President and Chief Executive Officer Frank Lonegro. “I was delighted to see our net 68 BCO truck additions during the second quarter, the strongest quarterly improvement since the first quarter of 2022. Although the Company experienced a lower DOT accident frequency during the 2026 first half, increased insurance and claims expense, primarily attributable to unfavorable development of prior years’ claims, had an adverse impact on our second quarter results. The claim environment for freight transportation providers remains challenging, especially with the U.S. Supreme Court’s recent Montgomery decision relating to potential broker liability.”

 2Q 2026     2Q 2025Change ($)Change (%)  Revenue$1,432,264$1,211,383$220,881 18.2%  Gross profit$132,337$109,261$23,076 21.1%  Variable contribution$199,429$170,450$28,979 17.0%  Operating income$66,228$56,280$9,948 17.7%  Basic and diluted earnings per share (“EPS”)$1.44$1.20$0.24 20.0%      (1)   Dollars above in thousands, except per share amounts.   (2)   Please refer to the Consolidated Statements of Income and the Reconciliation of Gross Profit to Variable Contribution included below. Landstar also announced today that its Board of Directors declared a quarterly dividend of $0.44 per share payable on September 9, 2026, to stockholders of record as of the close of business on August 18, 2026. This quarterly dividend includes a 10% increase over the amount of the Company’s regular quarterly dividend declared following each of the prior five quarters. It is currently the intention of the Board to continue to pay dividends on a quarterly basis going forward. Landstar continues to return capital to stockholders through the Company’s stock purchase program and dividends. While Landstar did not purchase shares in the second quarter, during the 2026 first half, Landstar purchased 150,923 shares of its common stock at an aggregate cost of $22.6 million. The Company is currently authorized to purchase up to an additional 1,115,195 shares of the Company’s common stock under its longstanding share purchase program.

During the 2026 second quarter, truck revenue was $1,334 million, or 19% higher, as compared to the 2025 second quarter truck revenue of $1,118 million. Truck revenue per load increased approximately 17% in the 2026 second quarter compared to the 2025 second quarter, and the number of loads hauled via truck increased approximately 2% compared to the 2025 second quarter.

Truck transportation revenue hauled by independent business capacity owners (“BCOs”) and truck brokerage carriers in the 2026 second quarter was 93% of revenue, compared to 92% of revenue in the 2025 second quarter. Truckload transportation revenue hauled via van equipment in the 2026 second quarter was $718 million, compared to $591 million in the 2025 second quarter. Truckload transportation revenue hauled via unsided/platform equipment in the 2026 second quarter was $492 million, compared to $401 million in the 2025 second quarter. Revenue from other truck transportation, which is largely related to power-only services, in the 2026 second quarter was $99 million, compared to $101 million in the 2025 second quarter. Revenue hauled by rail, air and ocean cargo carriers was $78 million, or 5% of revenue, in the 2026 second quarter, compared to $73 million, or 6% of revenue, in the 2025 second quarter.

Gross profit in the 2026 second quarter was $132 million, as compared to $109 million in the 2025 second quarter. Variable contribution in the 2026 second quarter was $199 million, compared to $170 million in the 2025 second quarter. Reconciliations of gross profit to variable contribution and gross profit margin to variable contribution margin for the 2026 and 2025 second quarters and year-to-date periods are provided in the Company’s accompanying financial disclosures.

The Company’s balance sheet continues to be very strong, with cash and short-term investments of approximately $348 million as of June 27, 2026. Trailing twelve-month return on average shareholders’ equity was 16%. Return on invested capital, representing net income divided by the sum of average equity plus average debt, was 14%.  

Landstar will provide a live webcast of its quarterly earnings conference call this afternoon at 4:30 p.m. ET. To access the webcast, visit www.investor.landstar.com; click on “Webcasts,” then click on “Landstar’s Second Quarter 2026 Earnings Release Conference Call.” A slide presentation to accompany the webcast presentation is also available on Landstar’s investor relations website at https://investor.landstar.com/.

About Landstar:
Landstar System, Inc., is a technology-enabled, asset-light provider of freight transportation and logistics solutions focused on safety, security and service to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market® under the symbol LSTR.

Non-GAAP Financial Measures:
In this earnings release and accompanying financial disclosures, the Company provides the following information that may be deemed non-GAAP financial measures: variable contribution and variable contribution margin. The Company believes variable contribution and variable contribution margin are useful measures of the variable costs that we incur at a shipment-by-shipment level attributable to our transportation network of third-party capacity providers and independent agents in order to provide services to our customers. The Company also believes that it is appropriate to present each of the financial measures that may be deemed a non-GAAP financial measure, as referred to above, for the following reasons: (1) disclosure of these matters will allow investors to better understand the underlying trends in the Company’s financial condition and results of operations; (2) this information will facilitate comparisons by investors of the Company’s results as compared to the results of peer companies; and (3) management considers this financial information in its decision making.

Forward Looking Statements Disclaimer:
The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are “forward-looking statements.” This press release contains forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Terms such as “anticipates,” “believes,” “estimates,” “intention,” “expects,” “plans,” “predicts,” “may,” “should,” “could,” “would,” “will,” the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: decreased demand for transportation services; U.S. trade relationships and potential or imposed tariffs; an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; the impact of the Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company’s second largest such agent by revenue in the 2025 fiscal year; substantial industry competition; disruptions or failures in the Company’s computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; regulations requiring the purchase and use of zero-emission vehicles; intellectual property; acquisitions and investments; and other operational, financial or legal risks or uncertainties detailed in Landstar’s Form 10-K for the 2025 fiscal year, described in Part I, Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

            Landstar System, Inc. and Subsidiary Consolidated Statements of Income (Dollars in thousands, except per share amounts) (Unaudited)                             Twenty-Six Weeks Ended Thirteen Weeks Ended     June 27, June 28, June 27, June 28,     2026 2025 2026 2025             Revenue $2,603,555 $2,363,885 $1,432,264 $1,211,383 Investment income  5,679  7,327  2,705  3,729             Costs and expenses:          Purchased transportation  2,030,397  1,839,289  1,123,400  941,411  Commissions to agents  201,578  192,836  109,435  99,522  Other operating costs, net of gains on asset sales/dispositions  32,745  31,424  17,945  19,595  Insurance and claims  74,923  70,301  39,359  30,449  Selling, general and administrative  129,158  117,288  68,193  55,706  Depreciation and amortization  20,969  24,375  10,409  12,149               Total costs and expenses  2,489,770  2,275,513  1,368,741  1,158,832             Operating income  119,464  95,699  66,228  56,280 Interest and debt expense  1,330  539  812  698             Income before income taxes  118,134  95,160  65,416  55,582 Income taxes  29,743  23,461  16,465  13,689             Net income $88,391 $71,699 $48,951 $41,893             Basic and diluted earnings per share $2.60 $2.05 $1.44 $1.20             Average basic and diluted shares outstanding  33,979,000  35,037,000  33,935,000  34,870,000             Dividends per common share $0.80 $0.76 $0.40 $0.40              Landstar System, Inc. and Subsidiary Consolidated Balance Sheets (Dollars in thousands, except per share amounts) (Unaudited)             June 27, December 27,      2026   2025  ASSETS     Current assets:      Cash and cash equivalents $294,350  $396,694   Short-term investments  53,352   55,531   Trade accounts receivable, less allowance of $9,135 and $12,490  866,879   670,137   Other receivables, including advances to independent contractors, less allowance of $14,727 and $18,759 47,306   52,784   Assets held for sale  -   12,231   Other current assets  59,159   28,949    Total current assets  1,321,046   1,216,326               Operating property, less accumulated depreciation and amortization of $488,271 and $473,642
 252,963   261,322  Goodwill  34,005   34,005  Other assets  134,521   124,282  Total assets $1,742,535  $1,635,935          LIABILITIES AND SHAREHOLDERS' EQUITY    Current liabilities:      Cash overdraft $71,849  $56,654   Accounts payable  468,780   369,567   Current maturities of long-term debt 24,686   28,342   Insurance claims  59,020   87,343   Dividends payable  -   68,117   Liabilities held for sale  -   6,961   Other current liabilities  99,588   78,856    Total current liabilities  723,923   695,840          Long-term debt, excluding current maturities 42,088   48,480  Insurance claims  98,686   62,706  Deferred income taxes and other non-current liabilities 41,108   33,244          Shareholders' equity:      Common stock, $0.01 par value, authorized 160,000,000 shares, issued 68,631,174 and 68,590,708
 686   686   Additional paid-in capital  266,673   261,256   Retained earnings  2,913,890   2,852,680   Cost of 34,694,249 and 34,531,982 shares of common stock in treasury
  (2,336,862)  (2,313,245)  Accumulated other comprehensive loss (7,657)  (5,712)   Total shareholders' equity  836,730   795,665  Total liabilities and shareholders' equity$1,742,535  $1,635,935           Landstar System, Inc. and Subsidiary  Supplemental Information  (Unaudited)                      Twenty-Six Weeks Ended  Thirteen Weeks Ended       June 27, June 28,  June 27, June 28,        2026   2025    2026   2025   Revenue generated through (in thousands):                           Truck transportation             Truckload:              Van equipment $1,320,919  $1,186,071   $717,513  $591,276      Unsided/platform equipment  860,737   741,270    492,168   400,862     Less-than-truckload  48,912   47,749    25,124   25,313     Other truck transportation (1)  185,591   192,766    99,073   100,687      Total truck transportation  2,416,159   2,167,856    1,333,878   1,118,138    Rail intermodal  47,075   39,515    27,761   22,028    Ocean and air cargo carriers  97,713   116,426    49,744   50,789    Other (2)  42,608   40,088    20,881   20,428        $2,603,555  $2,363,885   $1,432,264  $1,211,383                   Revenue on loads hauled via BCO Independent Contractors (3)             included in total truck transportation $1,038,421  $888,489   $563,073  $461,432                  Number of loads:                           Truck transportation             Truckload:              Van equipment  575,472   572,154    297,761   284,091      Unsided/platform equipment  246,695   246,241    132,141   128,996     Less-than-truckload  65,895   76,830    30,970   41,250     Other truck transportation (1)  95,768   90,185    49,378   46,173      Total truck transportation  983,830   985,410    510,250   500,510    Rail intermodal  15,110   13,970    8,520   7,820    Ocean and air cargo carriers  13,870   16,560    7,160   7,440         1,012,810   1,015,940    525,930   515,770                   Loads hauled via BCO Independent Contractors (3)             included in total truck transportation  432,210   398,000    224,600   203,930                  Revenue per load:                           Truck transportation             Truckload:              Van equipment $2,295  $2,073   $2,410  $2,081      Unsided/platform equipment  3,489   3,010    3,725   3,108     Less-than-truckload  742   621    811   614     Other truck transportation (1)  1,938   2,137    2,006   2,181      Total truck transportation  2,456   2,200    2,614   2,234    Rail intermodal  3,115   2,829    3,258   2,817    Ocean and air cargo carriers  7,045   7,031    6,947   6,826                   Revenue per load on loads hauled via BCO Independent Contractors (3) $2,403  $2,232   $2,507  $2,263                  Revenue by capacity type (as a % of total revenue):                           Truck capacity providers:             BCO Independent Contractors (3)  40%  38%   39%  38%    Truck Brokerage Carriers  53%  54%   54%  54%   Rail intermodal  2%  2%   2%  2%   Ocean and air cargo carriers  4%  5%   3%  4%   Other   2%  2%   1%  2%                                          June 27, June 28,             2026   2025   Truck Capacity Providers:                           BCO Independent Contractors (3)       7,719   7,844    Truck Brokerage Carriers:                 Approved and active (4)       37,656   41,842         Other approved       26,951   27,672              64,607   69,514    Total available truck capacity providers       72,326   77,358                   Trucks provided by BCO Independent Contractors (3)       8,544   8,611                                 (1) 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.
                 (2) Includes primarily reinsurance premium revenue generated by the insurance segment and intra-Mexico transportation services revenue generated by Landstar Metro.                (3) BCO Independent Contractors are independent contractors who provide truck capacity to the Company under exclusive lease arrangements.                   (4) Active refers to Truck Brokerage Carriers who moved at least one load in the 180 days immediately preceding the fiscal quarter end.                    Landstar System, Inc. and Subsidiary Reconciliation of Gross Profit to Variable Contribution (Dollars in thousands) (Unaudited)                     Twenty-Six Weeks Ended Thirteen Weeks Ended       June 27, June 28, June 27, June 28,        2026   2025   2026   2025                Revenue   $2,603,555  $2,363,885  $1,432,264  $1,211,383                Costs of revenue:            Purchased transportation  2,030,397   1,839,289   1,123,400   941,411    Commissions to agents  201,578   192,836   109,435   99,522                 Variable costs of revenue  2,231,975   2,032,125   1,232,835   1,040,933                  Trailing equipment depreciation  12,619   13,844   6,351   6,867    Information technology costs (1)  5,683   7,609   3,080   3,934    Insurance-related costs (2)  75,654   71,317   39,716   30,793    Other operating costs  32,745   31,424   17,945   19,595                 Other costs of revenue  126,701   124,194   67,092   61,189                 Total costs of revenue  2,358,676   2,156,319   1,299,927   1,102,122                Gross profit   $244,879  $207,566  $132,337  $109,261                Gross profit margin   9.4%  8.8%  9.2%  9.0%                Plus: other costs of revenue  126,701   124,194   67,092   61,189                Variable contribution  $371,580  $331,760  $199,429  $170,450                Variable contribution margin  14.3%  14.0%  13.9%  14.1%                             (1) Includes costs of revenue incurred related to internally developed software including ASC 350-40 amortization, implementation costs, hosting costs and other support costs utilized to support the Company's independent commission sales agents, third party capacity providers, and customers, included as a portion of depreciation and amortization and of selling, general and administrative in the Company's Consolidated Statements of Income.              (2) Primarily includes (i) insurance premiums paid for commercial auto liability, general liability, cargo and other lines of coverage related to the transportation of freight; (ii) the related costs of claims incurred under those programs; and (iii) brokerage commissions and other fees incurred relating the the administration in the Company's Consolidated Statements of Income.