The first quarter at Expeditors International saw an increase in tonnage handled but a drop in revenues and an even bigger decline in the cost of acquiring transportation.
However, it also marked a milestone: It was the first quarter since the third quarter of 2021 when year-on-year tonnage increased for both airfreight and ocean freight. There had been year-on-year comparisons when airfreight grew in the interim but not for more than two years have both categories grown from the corresponding...