We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Expeditors (EXPD) Q4 Earnings Top Estimates, Revenues Lag
Read MoreHide Full Article
Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2019 earnings of 81 cents per share surpassed the Zacks Consensus Estimate by a penny. However, the bottom line decreased 20.6% on a year-over-year basis.
Further, total revenues of $2.04 billion missed the Zacks Consensus Estimate of $2.19 billion and also declined 9% year over year. Consequently, the earnings report disappointed investors and the stock fell in early trading.
Lower volumes hurt Expeditors’ quarterly results. Given the company’s exposure in China, the slowdown in trade to and from China proved to be a huge setback for Expeditors. Notably, volumes with respect to airfreight tonnage and ocean container contracted 6% and 13%, respectively, year over year. Operating income dropped 17% in the final quarter of 2019.
During the fourth quarter, this Zacks Rank #4 (Sell) company repurchased 1.2 million shares at an average price of $73.89 per share. The company exited 2019 with cash and cash equivalents of $1.23 billion compared with $923.7 million at the end of 2018.
Airfreight Services revenues were down 16.3% year over year to $757.9 million in the fourth quarter. Ocean Freight and Ocean Services revenues deteriorated 15.5% to $519.7 million. However, Customs Brokerage and Other Services revenues increased 7.3% year over year to $767.2 million.
Upcoming Releases
Investors interested in the broader Transportation sector are awaiting fourth-quarter earnings reports from key players like Gol Linhas , Hertz Global Holdings (HTZ - Free Report) and Azul (AZUL - Free Report) .
Gol and Hertz will release fourth-quarter numbers on Feb 20 and Feb 24, respectively, while Azul will release on Mar 12.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Shutterstock
Expeditors (EXPD) Q4 Earnings Top Estimates, Revenues Lag
Expeditors International of Washington’s (EXPD - Free Report) fourth-quarter 2019 earnings of 81 cents per share surpassed the Zacks Consensus Estimate by a penny. However, the bottom line decreased 20.6% on a year-over-year basis.
Further, total revenues of $2.04 billion missed the Zacks Consensus Estimate of $2.19 billion and also declined 9% year over year. Consequently, the earnings report disappointed investors and the stock fell in early trading.
Lower volumes hurt Expeditors’ quarterly results. Given the company’s exposure in China, the slowdown in trade to and from China proved to be a huge setback for Expeditors. Notably, volumes with respect to airfreight tonnage and ocean container contracted 6% and 13%, respectively, year over year. Operating income dropped 17% in the final quarter of 2019.
During the fourth quarter, this Zacks Rank #4 (Sell) company repurchased 1.2 million shares at an average price of $73.89 per share. The company exited 2019 with cash and cash equivalents of $1.23 billion compared with $923.7 million at the end of 2018.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Expeditors International of Washington, Inc. Price, Consensus and EPS Surprise
Expeditors International of Washington, Inc. price-consensus-eps-surprise-chart | Expeditors International of Washington, Inc. Quote
Segmental Revenues
Airfreight Services revenues were down 16.3% year over year to $757.9 million in the fourth quarter. Ocean Freight and Ocean Services revenues deteriorated 15.5% to $519.7 million. However, Customs Brokerage and Other Services revenues increased 7.3% year over year to $767.2 million.
Upcoming Releases
Investors interested in the broader Transportation sector are awaiting fourth-quarter earnings reports from key players like Gol Linhas , Hertz Global Holdings (HTZ - Free Report) and Azul (AZUL - Free Report) .
Gol and Hertz will release fourth-quarter numbers on Feb 20 and Feb 24, respectively, while Azul will release on Mar 12.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>