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Expeditors (EXPD) Beats on Earnings & Revenues in Q3

Zacks

Based in Seattle, WA, Expeditors International of Washington Inc. EXPD is a leading third-party logistics provider. The company is engaged in the business of global logistics management, including international freight forwarding and consolidation, for both air and ocean freight.

Expeditors’ track record with respect to earnings is a mixed one. The company has delivered a negative earnings surprise in two of the last four quarters.

Zacks Rank: Currently, Expeditors has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:


Earnings: Expeditors’ adjusted earnings of 66 cents per share surpassed the Zacks Consensus Estimate of 60 cents per share. Earnings increased 12% on a year over year basis.

Revenue: Revenues came in at $1.8 billion, also beating the Zacks Consensus Estimate of $1.73 billion. Revenues increased 15% from the year-ago figure. Growth was witnessed across all major divisions of the company.

Key Stats: Airfreight Services revenues increased 18.3% year over year to $735.16 million in the third quarter. Ocean Freight and Ocean Services revenues increased 13.7% year over year to $563.39 million. Customs Brokerage and Other Services revenues increased 13.1 % year over year to approximately $503.62 million.

Stock Price: The strong earnings report pleased investors. Consequently, shares of the company were up in pre-market trading at the time of writing.

Check back later for our full write up on this Expeditors earnings report later!


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