Expeditors International of Washington Inc. (EXPD - Free Report) performed impressively in the third quarter of 2017, reporting better-than-expected earnings and revenues. The company’s earnings of 66 cents per share beat the Zacks Consensus Estimate of 60 cents. Earnings increased 12% on a year-over-year basis. Results were helped by higher revenues.
Revenues came in at $1,802.17 million, also beating the Zacks Consensus Estimate of $1,728.88 million. Revenues increased 15% from the year-ago figure. Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container increased 12% and 4%, respectively, in the reported quarter. The strong earnings report pleased investors. Consequently, shares of the company were up in early trading.
Gross profit (net revenue) increased 10% year over year in the third quarter to $599.14 million. Gross margin (yield) came in at 33.25% in the reported quarter. The comparable figure was 34.89% in the year-ago quarter.
During the third quarter, the company repurchased 3.6 million shares at an average price of $56.18 per share. This Zacks Rank #3 (Hold) company exited the quarter with cash and cash equivalents of $1.03 billion compared with $974.44 million at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Revenues
Airfreight Services revenues increased 18.3% year over year to $735.16 million in the third quarter. Ocean Freight and Ocean Services revenues increased 13.7% year over year to $563.39 million. Customs Brokerage and Other Services revenues increased 13.1 % year over year to approximately $503.62 million.
Upcoming Releases
Investors interested in the broader Transportation sector are keenly awaiting third-quarter earnings reports from key players like GOL Linhas , Copa Holdings (CPA - Free Report) and LATAM Airlines Group S.A. . While Copa and GOL are scheduled to release their third-quarter results on Nov 8, LATAM Airlines will unveil its results on Nov 15.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Expeditors International of Washington Inc. (EXPD - Free Report) performed impressively in the third quarter of 2017, reporting better-than-expected earnings and revenues. The company’s earnings of 66 cents per share beat the Zacks Consensus Estimate of 60 cents. Earnings increased 12% on a year-over-year basis. Results were helped by higher revenues.
Revenues came in at $1,802.17 million, also beating the Zacks Consensus Estimate of $1,728.88 million. Revenues increased 15% from the year-ago figure. Growth was witnessed across all major divisions of the company. Volumes with respect to airfreight tonnage and ocean container increased 12% and 4%, respectively, in the reported quarter. The strong earnings report pleased investors. Consequently, shares of the company were up in early trading.
Gross profit (net revenue) increased 10% year over year in the third quarter to $599.14 million. Gross margin (yield) came in at 33.25% in the reported quarter. The comparable figure was 34.89% in the year-ago quarter.
During the third quarter, the company repurchased 3.6 million shares at an average price of $56.18 per share. This Zacks Rank #3 (Hold) company exited the quarter with cash and cash equivalents of $1.03 billion compared with $974.44 million at the end of 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Revenues
Airfreight Services revenues increased 18.3% year over year to $735.16 million in the third quarter. Ocean Freight and Ocean Services revenues increased 13.7% year over year to $563.39 million. Customs Brokerage and Other Services revenues increased 13.1 % year over year to approximately $503.62 million.
Upcoming Releases
Investors interested in the broader Transportation sector are keenly awaiting third-quarter earnings reports from key players like GOL Linhas , Copa Holdings (CPA - Free Report) and LATAM Airlines Group S.A. . While Copa and GOL are scheduled to release their third-quarter results on Nov 8, LATAM Airlines will unveil its results on Nov 15.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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