Expeditors International may end up being a rare transportation company that found the chaos of the first quarter beneficial.
All of the key financial indicators for Expeditors were solidly higher. The formula for its better bottom-line performance: Revenues were up 21%, the cost of purchased transportation and related expenses was up more at 24%, but salaries and other operating expenses rose just 12%.
That led to an increase in operating income of 24%, to $265.9 million from $214.8 million a...