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Expeditors (EXPD) Beats on Earnings & Revenues in Q4

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Expeditors International of Washington, Inc. (EXPD - Free Report) reported fourth-quarter 2017 earnings per share (excluded 21 cents from non-recurring items) of 71 cents per share, surpassing the Zacks Consensus Estimate of 64 cents. Earnings increased 16.4% on a year-over-year basis. Results were aided by higher revenues.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for Expeditors depicted a stable picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being stagnant at over the last 30 days

Prior to the earnings beat in the fourth quarter, the company delivered a positive surprise in two of the last four quarters, met estimates in one quarter and lagged the same on one occasion.

Revenues Better Than Expected

Revenues came in at $1.9 billion beating the Zacks Consensus Estimate of $1.8 billion. Revenues improved 16% from the year-ago figure.

Key Stats to Note: Airfreight Services revenues improved 24% year over year to $854.45 million in the fourth quarter. Ocean Freight and Ocean Services revenues increased 3.6% year over year to $521.32 million. Customs Brokerage and Other Services revenues increased 16.8 % year over year to approximately $525.61 million.

Zacks Rank: Currently, Expeditors carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

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