Expeditors International of Washington, Inc. (EXPD Quick QuoteEXPD - Free Report) reported first-quarter 2018 earnings per share of 76 cents per share, surpassing the Zacks Consensus Estimate of 64 cents. Earnings increased significantly on a year-over-year basis. Results were aided by higher revenues.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for Expeditors depicted a stable picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter earnings being stagnant at over the last 30 days

Prior to the earnings beat in the first-quarter, the company delivered positive surprises in two of the last four quarters. While earnings lagged expectations in another quarter, the same met estimates in the remaining quarter.

Expeditors International of Washington, Inc. Price and EPS Surprise

 

Expeditors International of Washington, Inc. Price and EPS Surprise | Expeditors International of Washington, Inc. Quote

Revenues Better Than Expected

Revenues came in at $1,854.3 million beating the Zacks Consensus Estimate of $1,702.4 million. Revenues improved 20% from the year-ago figure.

Key Stats to Note: Airfreight Services revenues improved 18.8% year over year to $731.23 million in the first quarter. Ocean Freight and Ocean Services revenues increased 5.5% year over year to $520.88 million. Customs Brokerage and Other Services revenues increased 38.2 % year over year to approximately $602.16 million.

Stock Price: The earnings report found favor with investors. Consequently, shares of the company were up in pre-market trading at the time of writing.

Zacks Rank: Currently, Expeditors carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.

Check back later for our full write up on this Expeditorsearnings report later!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>