Expeditors International

Strong quarter for Expeditors as disruptions and uncertainty led to a volume increase

Expeditors International had a strong fourth quarter across the board, with both revenue and profits beating analyst estimates.

Revenue of $2.95 billion was up 30% from the corresponding quarter of 2023. Operating income was up 51% and net earnings rose 49%. Both figures topped analysts’ projections, according to SeekingAlpha, with the GAAP earnings per share of $2.68 beating consensus forecasts by 24 cents a share and revenue topping forecasts by $190 million.

Expeditors (NASDAQ: EXPD) is a 3PL...

https://www.freightwaves.com/news/strong-quarter-for-expeditors-as-disruptions-and-uncertainty-led-to-a-volume-increase

Expeditors, aided in part by pull-forward volumes, reports strong Q3

Bolstered by significant gains in air and ocean freight volume on a year-to-year basis, Expeditors International’s third-quarter earnings report showed higher numbers in almost every key category.

For the quarter ended Sept. 30 airfreight kilograms handled by 3PL Expeditors were up by 19% on a year-to-year basis. Ocean freight measured in 40-foot equivalent units rose 12%.

Notable about the volume performance is that it mostly strengthened as the quarter went on. Year-on-year airfreight kilo...

https://www.freightwaves.com/news/expeditors-aided-in-part-by-pull-forward-volumes-reports-strong-q3

Volume weakness at Expeditors continues, but rate of decline slows

Expeditors International’s slide in volume continued in the fourth quarter but showed improvement by the end of the period.

Expeditors (NYSE: EXPD) does not disclose actual volumes in its quarterly earnings report. But the air- and ocean-focused brokerage and forwarder does provide volume changes from the year-ago period.

In North America, airfreight as measured in kilograms was down 6% in October and November 2023 but was up 3% in December. Ocean freight measured in forty-foot equivalent units...

https://www.freightwaves.com/news/volume-weakness-at-expeditors-continues-but-rate-of-decline-slows

Expeditors down across the board amid weaker air and ocean markets

The earnings of Expeditors International were a perfect summation of the state of international freight in the second quarter: Whether it was on the water or in the air, the numbers were less than a year ago — by a large margin.

And while Expeditors does not disclose enough granular tonnage data to make a sequential comparison between the first and second quarters, most data points that can be compared also were down from the first three months of the year. 

Expeditors (NASDAQ: EXPD), which does...

https://www.freightwaves.com/news/expeditors-down-across-the-board-amid-weaker-air-and-ocean-markets

Strong headwinds in air, ocean markets lead to big drops at Expeditors

Expeditors International had a first quarter that one might have expected in air and ocean freight markets that have been dropping hard.

The Seattle-headquartered global logistics company did manage to post in the first quarter a revenue decline of 44%, which sounds like a lot but is not as much as the 51% decline in its cost to secure capacity. It also kept its salaries and expenses in check, seeing those decline 13%.

The end result was that operating income for the company dropped 40%, which is...

Nothing but down arrows for Expeditors in 4th quarter

For Expeditors International, everything pointed down in the fourth quarter compared to a year earlier, and not a lot of change is foreseen in the first half of this year.

Revenues at the air- and ocean-focused 3PL were down, but so was the cost of acquiring the air and marine transportation that is at the heart of Expeditors’ activities. In a labor market still marked by a tight pool of workers along with higher inflation, salaries and other operating expenses declined 8% from a year earlier....

Expeditors reports ‘meaningful progress’ in cyberattack recovery

Close up of Expeditors sign. Expeditors is an American logistics and freight forwarding company.

Global logistics provider and freight forwarder Expeditors International said it has “made meaningful progress” in restoring its systems following a devastating cyberattack, but advised customers that the process will take weeks. 

The Seattle-based company said in an update Sunday that its enterprise brokerage system will come online this week, with EDI/API connectivity — essential for transmitting shipment and other freight data — as well as transportation, accounting and other systems to...

https://www.freightwaves.com/news/expeditors-reports-meaningful-progress-in-cyberattack-recovery

Expeditors outlines severity of cyberattack, partially resumes operations

Close up Expeditors brand name on building.

Expeditors International, a top-five freight management company by revenue, disclosed Wednesday that last month’s cyberattack will have a “material adverse impact” on finances and that it will be late filing its 2021 annual report because of difficulty accessing information on its accounting systems.

In a separate notice to the Securities and Exchange Commission, the logistics provider said it is making progress returning to normal operations but is unable to estimate when it will resume full...

https://www.freightwaves.com/news/expeditors-outlines-severity-of-cyberattack-partially-resumes-operations

Check Call: ‘Member your first day, brokers?

people gathered around a desk of computers. Check Call news and analysis for 3pls and brokers

Hot Take

Image: imgflip.com

’Member when it was your first day in a chair trying to broker freight? Yeah, good times or not. After talking to a lot of people in the brokerage and logistics world, everyone’s first days started out pretty similarly. 

“Hi, welcome aboard. Here’s your desk. Good luck!” 

We’ve recently covered the importance of training and setting people up for success, but what about things you wish you had known when you first started? Taking a trip down memory lane can help those...

https://www.freightwaves.com/news/check-call-member-your-first-day-brokers

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