Expeditors' (EXPD) Q1 Earnings & Revenues Beat, Down Y/Y [Yahoo! Finance]
Expeditors International of Washington, Inc. (EXPD)
Last expeditors international of washington, inc. earnings: 2/18 08:30 am
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US:NASDAQ Investor Relations:
investor.expeditors.com
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Source: Yahoo! Finance
The bottom line plunged 19% year over year due to volume woes. Total revenues of $2,206.67 million beat the Zacks Consensus Estimate of $2,172 million but declined 15% year over year. Airfreight tonnage and ocean container volumes surged 4% and 2%, respectively. We had expected airfreight tonnage and ocean container volumes to decline 6.7% and 8%, respectively, from first-quarter 2023 actuals. Operating income fell 22% year over year to $214.77 million. Total operating expenses fell 14% to $1.99 billion. Airfreight Services revenues tumbled 16.1% year over year to $759.37 million in the first quarter of 2024. Ocean freight and ocean services revenues decreased 18.1% to $570.78 million. Customs Brokerage and other services revenues fell 11.5% year over year to $876.51 million. In the first quarter of 2024, Expeditors repurchased 3 million shares at an average price of $120.17 per share. EXPD exited the first quarter of 2024 with cash and cash equivalents of $1.37 billion comp
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News
- Expeditors International of Washington, Inc. (NASDAQ: EXPD) was upgraded by analysts at BNP Paribas from an "underperform" rating to a "neutral" rating. They now have a $112.00 price target on the stock.MarketBeat
- Expeditors International (EXPD) International Revenue Performance Explored [Yahoo! Finance]Yahoo! Finance
- Results: Expeditors International of Washington, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts [Yahoo! Finance]Yahoo! Finance
- Expeditors International of Washington, Inc. (NASDAQ: EXPD) had its price target raised by analysts at Susquehanna from $112.00 to $120.00. They now have a "neutral" rating on the stock.MarketBeat
- Expeditors International of Washington, Inc. (NASDAQ: EXPD) had its price target raised by analysts at TD Cowen from $111.00 to $112.00. They now have a "hold" rating on the stock.MarketBeat
EXPD
Earnings
- 5/7/24 - Beat
EXPD
Sec Filings
- 5/13/24 - Form S-8
- 5/10/24 - Form 4
- 5/9/24 - Form 4
- EXPD's page on the SEC website