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Expeditors International (EXPD) Down 3.7% Since Last Earnings Report: Can It Rebound?
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A month has gone by since the last earnings report for Expeditors International (EXPD - Free Report) . Shares have lost about 3.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Expeditors International due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Earnings Beat at Expeditors in Q3
Expeditors’ third-quarter 2021 earnings of $2.09 per share surpassed the Zacks Consensus Estimate of $1.67 and also surged 87% on a year-over-year basis. Results were aided by higher revenues as “demand continues to far outstrip available capacity”. The top line rose significantly year over year to $4,319.3 million and surpassed the Zacks Consensus Estimate of $3,454.3 million. Uptick in ocean freight and ocean services revenues boosted the top line.
In the quarter under review, volumes pertaining to airfreight tonnage and ocean containers increased 28% and 15% year over year, respectively. Operating income soared 94% to $490 million in the third quarter on the back of higher revenues. Total operating expenses escalated 82.6% to $3.83 billion.
During the first nine months of 2021, this company repurchased 2 million shares at an average price of $110.45 per share. It exited the third quarter with cash and cash equivalents of $1.82 billion compared with $1.53 billion at the end of 2020.
Segmental Highlights
Airfreight Services revenues increased 65.6% year over year to $1.63 billion in the third quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1.60 billion. Customs Brokerage and Other Services revenues climbed 44.6% year over year to $1.09 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 33.78% due to these changes.
VGM Scores
At this time, Expeditors International has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Expeditors International has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
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Expeditors International (EXPD) Down 3.7% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Expeditors International (EXPD - Free Report) . Shares have lost about 3.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Expeditors International due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Earnings Beat at Expeditors in Q3
Expeditors’ third-quarter 2021 earnings of $2.09 per share surpassed the Zacks Consensus Estimate of $1.67 and also surged 87% on a year-over-year basis. Results were aided by higher revenues as “demand continues to far outstrip available capacity”. The top line rose significantly year over year to $4,319.3 million and surpassed the Zacks Consensus Estimate of $3,454.3 million. Uptick in ocean freight and ocean services revenues boosted the top line.
In the quarter under review, volumes pertaining to airfreight tonnage and ocean containers increased 28% and 15% year over year, respectively. Operating income soared 94% to $490 million in the third quarter on the back of higher revenues. Total operating expenses escalated 82.6% to $3.83 billion.
During the first nine months of 2021, this company repurchased 2 million shares at an average price of $110.45 per share. It exited the third quarter with cash and cash equivalents of $1.82 billion compared with $1.53 billion at the end of 2020.
Segmental Highlights
Airfreight Services revenues increased 65.6% year over year to $1.63 billion in the third quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1.60 billion. Customs Brokerage and Other Services revenues climbed 44.6% year over year to $1.09 billion.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 33.78% due to these changes.
VGM Scores
At this time, Expeditors International has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Expeditors International has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.