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Expeditors (EXPD) Q4 Earnings & Revenues Lag Estimates, Down Y/Y
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Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2022 earnings of $1.38 per share missed the Zacks Consensus Estimate of $2.09. The bottom line decreased 48% year over year. Total revenues of $3,441.52 million lagged the Zacks Consensus Estimate of $4,173.4 million and decreased 36% year over year.
Airfreight tonnage and ocean container volumes decreased 20% and 15%, respectively. Operating income decreased 47% to $329.70 million. Total operating expenses fell 34.8% to $3.11 billion.
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
Airfreight Services revenues decreased 47.5% year over year to $1.20 billion in the fourth quarter. Ocean Freight and ocean services revenues fell 40.6% to $1.12 billion. Customs Brokerage and other services revenues fell 7.9% year over year to $1.11 billion.
During the fourth quarter of 2022, Expeditors repurchased 5 million shares at an average price of $112.76 per share.EXPD exited the December quarter with cash and cash equivalents of $2.03 billion compared with $2.15 billion at the end of the prior quarter.
United Airlines’ (UAL - Free Report) fourth-quarter 2022 earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. In the year-ago quarter, UAL incurred a loss of $1.60 per share when air-travel demand was not as buoyant as in the current scenario. The fourth quarter of 2022 was the third consecutive profitable quarter at UAL since the onset of the pandemic.
Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. UAL’s revenues increased 51.37% year over year owing to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the fact that total operating revenues increased 13.9% from fourth-quarter 2019 (pre-coronavirus) levels.
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2022 earnings (excluding 19 cents from non-recurring items) of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. DAL reported earnings of 22 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $13,435 million, which also surpassed the Zacks Consensus Estimate of $13,030.3 million. Driven by the high air-travel demand, total revenues increased more than 41.87% on a year-over-year basis.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2022 earnings of $1.92 per share missed the Zacks Consensus Estimate of $2.45 and declined 16% year over year.
JBHT’s total operating revenues of $3,649.62 million also lagged the Zacks Consensus Estimate of $3,796.8 million. The top line jumped 4.4% year over year. Total operating revenues, excluding fuel surcharges, fell 2.9% year over year.
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Expeditors (EXPD) Q4 Earnings & Revenues Lag Estimates, Down Y/Y
Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2022 earnings of $1.38 per share missed the Zacks Consensus Estimate of $2.09. The bottom line decreased 48% year over year. Total revenues of $3,441.52 million lagged the Zacks Consensus Estimate of $4,173.4 million and decreased 36% year over year.
Airfreight tonnage and ocean container volumes decreased 20% and 15%, respectively. Operating income decreased 47% to $329.70 million. Total operating expenses fell 34.8% to $3.11 billion.
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
Airfreight Services revenues decreased 47.5% year over year to $1.20 billion in the fourth quarter. Ocean Freight and ocean services revenues fell 40.6% to $1.12 billion. Customs Brokerage and other services revenues fell 7.9% year over year to $1.11 billion.
During the fourth quarter of 2022, Expeditors repurchased 5 million shares at an average price of $112.76 per share.EXPD exited the December quarter with cash and cash equivalents of $2.03 billion compared with $2.15 billion at the end of the prior quarter.
Currently, Expeditors carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Transportation Companies
United Airlines’ (UAL - Free Report) fourth-quarter 2022 earnings of $2.46 per share beat the Zacks Consensus Estimate of $2.07. In the year-ago quarter, UAL incurred a loss of $1.60 per share when air-travel demand was not as buoyant as in the current scenario. The fourth quarter of 2022 was the third consecutive profitable quarter at UAL since the onset of the pandemic.
Operating revenues of $12,400 million beat the Zacks Consensus Estimate of $12,230 million. UAL’s revenues increased 51.37% year over year owing to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the fact that total operating revenues increased 13.9% from fourth-quarter 2019 (pre-coronavirus) levels.
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2022 earnings (excluding 19 cents from non-recurring items) of $1.48 per share beat the Zacks Consensus Estimate of $1.29 per share. DAL reported earnings of 22 cents per share a year ago, dull in comparison to the current scenario, as air-travel demand was not so buoyant then.
DAL reported revenues of $13,435 million, which also surpassed the Zacks Consensus Estimate of $13,030.3 million. Driven by the high air-travel demand, total revenues increased more than 41.87% on a year-over-year basis.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2022 earnings of $1.92 per share missed the Zacks Consensus Estimate of $2.45 and declined 16% year over year.
JBHT’s total operating revenues of $3,649.62 million also lagged the Zacks Consensus Estimate of $3,796.8 million. The top line jumped 4.4% year over year. Total operating revenues, excluding fuel surcharges, fell 2.9% year over year.