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 an impressive one. The company has delivered a positive earnings surprise in three of the last four quarters. The trailing four-quarter average beat is 6.57%.
Zacks Rank : Currently, Expeditors has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings : Expeditors’ adjusted earnings of 61 cents per share easily beat the Zacks Consensus Estimate of 53 cents per share. Earnings improved 33% on a year over year basis.
Revenue : Revenues came in at $1,692 million falling short of the Zacks Consensus Estimate of $1,741 million. Revenues climbed 6% from the year-ago figure.
Key Stats : Airfreight Services revenues improved 4% year over year to $693.8 million in the second quarter. Ocean Freight and Ocean Services revenues increased 7.5% year over year to $576.8 million. Customs Brokerage and Other Services revenues rose 6.5% year over year to approximately $421 million.
Check back later for our full write up on this Expeditors earnings report later!
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