On Monday, Seattle-based freight forwarder Expeditors International (NYSE: EXPD) released another lackluster quarterly earnings report, this time for the fourth quarter of 2023. Compared to Q4 2022, top-line revenue was down 34%, to $2.3 billion, operating income was down 40%, to $199 million, and net earnings were slashed by 28% to $159 million.
Similar large drops in year-over-year revenues and profits have become a common sight in the transportation industry as providers and intermediaries...