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Why Is Expeditors International (EXPD) Down 0.5% Since Last Earnings Report?
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A month has gone by since the last earnings report for Expeditors International (EXPD - Free Report) . Shares have lost about 0.5% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Expeditors International due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Earnings Miss at Expeditors in Q4
Expeditors' 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.
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.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -10.94% due to these changes.
VGM Scores
At this time, Expeditors International has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Expeditors International has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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Why Is Expeditors International (EXPD) Down 0.5% Since Last Earnings Report?
A month has gone by since the last earnings report for Expeditors International (EXPD - Free Report) . Shares have lost about 0.5% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Expeditors International due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Earnings Miss at Expeditors in Q4
Expeditors' 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.
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.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -10.94% due to these changes.
VGM Scores
At this time, Expeditors International has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Expeditors International has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.