secwatch.observer — SEC 8-K summary
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Issuer:     EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD)
CIK:        0000746515
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0000950170-23-003378
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Expeditors Q4 2022 EPS $1.38, down 48% YoY; revenue down 36%
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- Diluted EPS $1.38, down 48% from $2.66 in Q4 2021; net earnings $219M, down 52%.
- Revenue $3.4B, down 36% YoY; operating income $330M, down 47%.
- Airfreight tonnage volume fell 20% and ocean container volume fell 15% YoY.
- CEO cites rapid rate decline and softer demand, especially in retail and high tech; short-term outlook uncertain.
- Company plans to align expenses with revenues and reduce costs over next one to two quarters.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/746515/000095017023003378/0000950170-23-003378-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/746515/000095017023003378/expd-20230221.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-003378

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer