Reported about 6 hours ago
Landstar System has postponed its first-quarter earnings report to May 13, 2025, as it investigates suspected supply chain fraud discovered in late March. The company estimates the potential impact of the fraud could result in a net income loss of up to $15 million. Following this, Landstar adjusted its earnings-per-share guidance down to 90-95 cents, citing increased expenses from claims and cargo theft. The fraud relates to its freight forwarding unit and is believed to involve one independent sales agency.
Source: YAHOO