Expeditors International

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

Expeditors had strong quarter but faced significant headwinds

Equity markets haven’t been high on Expeditors International for the last several weeks — the stock is down more than 19% in the last three months — but the fourth-quarter financial report for the company was solid. 

Expeditors’ earnings release came as it is in the midst of a significant cyberattack. In the earnings release, the company repeated what it had said already about the attack, that the situation is “evolving.”

The company (NASDAQ: EXPD), which moves freight both through the air and...

https://www.freightwaves.com/news/expeditors-had-strong-quarter-but-faced-significant-headwinds

Global logistics giant Expeditors suffers cyberattack, shuts down operations systems

A building seen at night with the logo of the company Expeditors in front

Logistics giant Expeditors International has shut down most of its operations systems after being targeted in a ransomware attack, the company said. 

The effects on the Seattle-based company’s operations have been widespread.  

“While our systems are shut down we will have limited ability to conduct operations, including but not limited to arranging for shipments of freight or managing customs and distribution activities for our customers’ shipments,” Expeditors said in a statement Sunday.

The...

https://www.freightwaves.com/news/global-logistics-giant-expeditors-suffers-cyberattack-shuts-down-operations-systems

Expeditors’ revenue jumps 84% alongside 97% transportation cost leap

Expeditors International had the type of quarter one might expect from a company that moves freight for its clients mostly through a combination of oceangoing ships and by air.

The company’s revenue climbed 84% to $4.31 billion compared to the third-quarter 2020 figure of $2.34 billion. But the cost of transportation climbed even more, up 97%, to $3.18 billion from $1.61 billion in the third quarter of last year. 

However, on an outright basis, Expeditors’ (NASDAQ: EXPD) total revenues rose $1.97...

https://www.freightwaves.com/news/expeditors-revenue-jumps-84-despite-97-transportation-cost-leap

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.