We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Expeditors International of Washington’s (EXPD - Free Report) third-quarter 2020 earnings of $1.12 per share surpassed the Zacks Consensus Estimate of 98 cents and also improved 21.7% on a year-over-year basis.
Adding to this optimism, the top line not only rose 18.8% year over year to $2,464.8 million but also surpassed the Zacks Consensus Estimate of $2,315.1 million. The uptick in airfreight revenues boosted results. Due to the coronavirus-induced imbalance between scheduled capacity and demand, the company had to use charters to meet customer needs.
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
In the quarter under review, volumes pertaining to airfreight tonnage and ocean container contracted 5% each on a year-over-year basis. Operating income jumped 22% to $252 million in the third quarter on the back of higher revenues.
During the September quarter, this currently Zacks Rank #2 (Buy) company did not repurchase any shares. It exited the quarter with cash and cash equivalents of $1.46 billion compared with $1.23 million at the end of 2019.
Airfreight Services revenues soared 52.8% year over year to $1,093.55 million in the third quarter. Ocean Freight and Ocean Services revenues improved 4.7% to $612.86 million. However, Customs Brokerage and Other Services revenues dipped 2% year over year to $758.39 million.
Sectorial Snapshots
Let’s look into some other Zacks Transportation sector companies’ third-quarter earnings.
Southwest Airlines (LUV - Free Report) incurred a loss of $1.99 per share (excluding 3 cents from non-recurring items) in the third quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of $2.44. Moreover, operating revenues of $1,793 million surpassed the Zacks Consensus Estimate of $1,678.2 million.
Trinity Industries (TRN - Free Report) reported third-quarter 2020 earnings (excluding 4 cents from non-recurring items) of 17 cents per share, massively surpassing the Zacks Consensus Estimate of 5 cents. Total revenues of $459.4 million also outperformed the Zacks Consensus Estimate of $443.8 million.
CSX Corporation (CSX - Free Report) reported third-quarter 2020 earnings of 96 cents per share, surpassing the Zacks Consensus Estimate of 93 cents. However, total revenues of $2,648 million lagged the Zacks Consensus Estimate of $2,704.6 million.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Image: Shutterstock
Expeditors' (EXPD) Q3 Earnings Beat Estimates, Increase Y/Y
Expeditors International of Washington’s (EXPD - Free Report) third-quarter 2020 earnings of $1.12 per share surpassed the Zacks Consensus Estimate of 98 cents and also improved 21.7% on a year-over-year basis.
Adding to this optimism, the top line not only rose 18.8% year over year to $2,464.8 million but also surpassed the Zacks Consensus Estimate of $2,315.1 million. The uptick in airfreight revenues boosted results. Due to the coronavirus-induced imbalance between scheduled capacity and demand, the company had to use charters to meet customer needs.
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
Expeditors International of Washington, Inc. price-consensus-eps-surprise-chart | Expeditors International of Washington, Inc. Quote
Other Details
In the quarter under review, volumes pertaining to airfreight tonnage and ocean container contracted 5% each on a year-over-year basis. Operating income jumped 22% to $252 million in the third quarter on the back of higher revenues.
During the September quarter, this currently Zacks Rank #2 (Buy) company did not repurchase any shares. It exited the quarter with cash and cash equivalents of $1.46 billion compared with $1.23 million at the end of 2019.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Airfreight Services revenues soared 52.8% year over year to $1,093.55 million in the third quarter. Ocean Freight and Ocean Services revenues improved 4.7% to $612.86 million. However, Customs Brokerage and Other Services revenues dipped 2% year over year to $758.39 million.
Sectorial Snapshots
Let’s look into some other Zacks Transportation sector companies’ third-quarter earnings.
Southwest Airlines (LUV - Free Report) incurred a loss of $1.99 per share (excluding 3 cents from non-recurring items) in the third quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of $2.44. Moreover, operating revenues of $1,793 million surpassed the Zacks Consensus Estimate of $1,678.2 million.
Trinity Industries (TRN - Free Report) reported third-quarter 2020 earnings (excluding 4 cents from non-recurring items) of 17 cents per share, massively surpassing the Zacks Consensus Estimate of 5 cents. Total revenues of $459.4 million also outperformed the Zacks Consensus Estimate of $443.8 million.
CSX Corporation (CSX - Free Report) reported third-quarter 2020 earnings of 96 cents per share, surpassing the Zacks Consensus Estimate of 93 cents. However, total revenues of $2,648 million lagged the Zacks Consensus Estimate of $2,704.6 million.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>