Expeditors International of Washington’s (EXPD - Free Report) second-quarter 2021 earnings of $1.84 per share surpassed the Zacks Consensus Estimate of $1.63 and also surged 68.8% on a year-over-year basis. Results were aided by higher revenues. The top line rose 39.9% year over year to $3,609.1 million and surpassed the Zacks Consensus Estimate of $2,524.7 million as well. 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 37% and 34% year over year, respectively. Operating income soared 66% to $411 million in the second quarter on the back of better revenues. Total operating expenses escalated 47.8% to $3.2 billion.
During the June quarter, this currently Zacks Rank #2 (Buy) company repurchased 0.5 million of common stock at an average price of $124.94 per share. It exited the second quarter of 2021 with cash and cash equivalents of $1.67 billion compared with $1.53 billion at the end of 2020.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Highlights
Airfreight Services revenues increased 20% year over year to $1,523.57 million in the second quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1,098.55 million. Moreover, Customs Brokerage and Other Services revenues climbed 51.4% year over year to $986.97 million.
Sectorial Snapshots
Let’s glance through some of the other recently released earnings reports from companies within the Zacks Transportation sector:
Knight-Swift Transportation Holdings (KNX - Free Report) reported second-quarter 2021 earnings (excluding 6 cents from non-recurring items) of 98 cents per share, surpassing the Zacks Consensus Estimate of 87 cents. Total revenues of $1,315.7 million also outperformed the Zacks Consensus Estimate of $1,300.8 million.
United Parcel Service (UPS - Free Report) reported second-quarter 2021 earnings (excluding a penny from non-recurring items) of $3.06 per share, beating the Zacks Consensus Estimate of $2.75. Quarterly revenues of $23,424 million also outperformed the Zacks Consensus Estimate of $23,085.4 million.
Ryanair Holdings (RYAAY - Free Report) incurred a loss of $1.46 per share in the first quarter of fiscal 2022 (ended Jun 30, 2021), narrower than the Zacks Consensus Estimate of a loss of $1.50. Quarterly revenues of $446.4 million fell short of the Zacks Consensus Estimate of $459 million.
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Expeditors International of Washington’s (EXPD - Free Report) second-quarter 2021 earnings of $1.84 per share surpassed the Zacks Consensus Estimate of $1.63 and also surged 68.8% on a year-over-year basis. Results were aided by higher revenues. The top line rose 39.9% year over year to $3,609.1 million and surpassed the Zacks Consensus Estimate of $2,524.7 million as well. 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 37% and 34% year over year, respectively. Operating income soared 66% to $411 million in the second quarter on the back of better revenues. Total operating expenses escalated 47.8% to $3.2 billion.
During the June quarter, this currently Zacks Rank #2 (Buy) company repurchased 0.5 million of common stock at an average price of $124.94 per share. It exited the second quarter of 2021 with cash and cash equivalents of $1.67 billion compared with $1.53 billion at the end of 2020.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Highlights
Airfreight Services revenues increased 20% year over year to $1,523.57 million in the second quarter. Ocean Freight and Ocean Services revenues skyrocketed more than 100% to $1,098.55 million. Moreover, Customs Brokerage and Other Services revenues climbed 51.4% year over year to $986.97 million.
Sectorial Snapshots
Let’s glance through some of the other recently released earnings reports from companies within the Zacks Transportation sector:
Knight-Swift Transportation Holdings (KNX - Free Report) reported second-quarter 2021 earnings (excluding 6 cents from non-recurring items) of 98 cents per share, surpassing the Zacks Consensus Estimate of 87 cents. Total revenues of $1,315.7 million also outperformed the Zacks Consensus Estimate of $1,300.8 million.
United Parcel Service (UPS - Free Report) reported second-quarter 2021 earnings (excluding a penny from non-recurring items) of $3.06 per share, beating the Zacks Consensus Estimate of $2.75. Quarterly revenues of $23,424 million also outperformed the Zacks Consensus Estimate of $23,085.4 million.
Ryanair Holdings (RYAAY - Free Report) incurred a loss of $1.46 per share in the first quarter of fiscal 2022 (ended Jun 30, 2021), narrower than the Zacks Consensus Estimate of a loss of $1.50. Quarterly revenues of $446.4 million fell short of the Zacks Consensus Estimate of $459 million.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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