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Expeditors (EXPD) Misses on Earnings in Q3

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Based in Seattle, WA, Expeditors International of Washington Inc. (EXPD - Free Report) is a leading third-party logistics provider. The company is engaged in the business of global logistics management, including international freight forwarding and consolidation, for both air and ocean freight.

Expeditors’ track record with respect to earnings is an impressive one. The company has delivered a positive earnings surprise in three of the last four quarters. The trailing four-quarter average beat is 2.47%.

Zacks Rank: Currently, Expeditors has a Zacks Rank #4 (Sell) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Expeditors’ adjusted earnings of 59 cents per share fell short of the Zacks Consensus Estimate of 65 cents per share. Earnings decreased 5% on a year over year basis.

Revenue: Revenues came in at $1,562 million falling short of the Zacks Consensus Estimate of $1,591 million. Revenues declined 5.4% from the year-ago figure.

Key Stats: Airfreight Services revenues declined 5.8% year over year to $621.6 million in the third quarter. Ocean Freight and Ocean Services revenues decreased 11.2% year over year to $495.5 million. Customs Brokerage and Other Services revenues increased 3.2 % year over year to approximately $445.4 million.

Check back later for our full write up on this Expeditors earnings report later!

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