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Expeditors (EXPD) Misses on Earnings in Q1

Based in Seattle, WA, Expeditors International of Washington Inc. EXPD 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 each of the last four quarters. The trailing four-quarter average beat is 9.11%.

Zacks Rank: Currently, Expeditors has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Expeditors’ adjusted earnings of 53 cents per share fell short of the Zacks Consensus Estimate of 55 cents per share. Earnings declined 4% on a year over year basis.

Revenue: Revenues came in at $1.42 billion falling short of the Zacks Consensus Estimate of $1.57 billion. Revenues declined 15% from the year-ago figure.

Key Stats: Airfreight Services revenues declined 20.7% year over year to $560.8 million in the first quarter. Ocean Freight and Ocean Services revenues decreased 19.7% year over year to $454.2 million. Customs Brokerage and Other Services revenues declined 2.6 % year over year to approximately $403.4 million.

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

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EXPEDITORS INTL (EXPD): Free Stock Analysis Report
 
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