Expeditors International

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

Amid air and ocean freight boom, Expeditors sees no capacity relief

 The quarterly earnings statement of Expeditors International is straightforward about the squeeze in the supply chain and the fact that it isn’t ending anytime soon.

“Currently, we do not foresee any meaningful improvements to the operating environment over at least the remainder of the year, as the global infrastructure for moving freight seems nearly stretched to its limit,” Jeffrey Musser, president and CEO of Expeditors (NASDAQ: EXPD), said in the statement announcing the company’s...

https://www.freightwaves.com/news/amid-air-and-ocean-freight-boom-expeditors-sees-no-capacity-relief

Expeditors paying more to move freight but has solid quarter

By this point in the earnings cycle, the trends are firmly established with what most transportation companies experienced in their finances during the prior quarter. Expeditors International (NASDAQ: EXPD) is no different.

The asset-light logistics company, which is a member of the Dow Jones Transportation Average and which is a “dividend aristocrat” with 25 years of annual increases in payouts to shareholders, topped Wall Street estimates for both earnings per share and revenue. GAAP EPS came...

https://s29755.pcdn.co/news/expeditors-paying-more-to-move-freight-but-has-solid-quarter

Expeditors International expands digital offering in Fleet Logistics deal

unidentified LTL

Expeditors International (NASDAQ: EXPD) announced that it is purchasing the digital platform of Fleet Logistics.

The Seattle-based international freight forwarder said the acquisition will support its less-than-truckload (LTL) shipping platform, Koho.

Transaction terms were not disclosed.

“As we have said, we will continue to invest in technology and people. This acquisition extends the services within our Digital Solutions division and evidences our commitment to making investments in our...

https://s29755.pcdn.co/news/expeditors-international-expands-digital-offering-in-fleet-logistics-deal

Expeditors International sees first quarter net income fall 12.5%

Expeditors International of Washington Inc. (NASDAQ: EXPD) reported first-quarter net income of $122.3 million and $0.71 per share on Tuesday, May 5.

Those figures compare with $139.7 million, or $0.80 per share during the first quarter of 2019, representing a 12.45% decline.

“Our first quarter [2020] performance was better than we might have expected, given the contraction in demand across geographies, as well as the severity and suddenness of the collapse in air carrier belly space and...

https://www.freightwaves.com/news/expeditors-international-sees-first-quarter-net-income-fall-12-5

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