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!
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>