A month has gone by since the last earnings report for Expeditors International (EXPD Quick QuoteEXPD - Free Report) . Shares have added about 1.5% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Expeditors International due for a pullback? 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.

Expeditors' Q3 Earnings Surpass Estimates

Expeditors' third-quarter 2024 earnings of $1.63 per share beat the Zacks Consensus Estimate of $1.33. The bottom line increased 40.5% year over year, owing to strong growth in air tonnage and ocean volumes. Total revenues of $3 billion beat the Zacks Consensus Estimate of $2.37 billion and increased 37% year over year.

Airfreight tonnage and ocean container volume increased 19% and 12% year over year, respectively.

Operating income increased 40% year over year to $302 million. Total operating expenses increased 37% to $2.7 billion.

Airfreight Services revenues increased 36.3% year over year to $987 million in the third quarter of 2024. Ocean freight and ocean services revenues surged 81.5% to $1.02 billion. Customs Brokerage and other services revenues increased 9.9% year over year to $995.6 million.

In the third quarter of 2024, Expeditors repurchased 1.2 million shares at an average price of $118.47 per share. EXPD returned $140 million to its shareholders via share repurchases in the September quarter.

EXPD exited the third quarter of 2024 with cash and cash equivalents of $1.29 billion compared with $1.51 billion in 2023-end.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed an upward trend in fresh estimates.

The consensus estimate has shifted 6.92% due to these changes.

VGM Scores

At this time, Expeditors International has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Expeditors International has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry Player

Expeditors International belongs to the Zacks Transportation - Services industry. Another stock from the same industry, C.H. Robinson Worldwide (CHRW Quick QuoteCHRW - Free Report) , has gained 1.1% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.

C.H. Robinson reported revenues of $4.64 billion in the last reported quarter, representing a year-over-year change of +7%. EPS of $1.28 for the same period compares with $0.84 a year ago.

For the current quarter, C.H. Robinson is expected to post earnings of $1.10 per share, indicating a change of +120% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for C.H. Robinson. Also, the stock has a VGM Score of B.