Expeditors Q1 EPS $1.45, revenue -44% YoY; ocean volumes down 26%

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

2023-Q1 EPS reported $1.45 revenue$2,592,589,000

Diluted EPS dropped 29% to $1.45; net earnings fell 35% to $226M.
Revenue declined 44% to $2.6B amid softer demand; operating income down 40% to $276M.
Airfreight tonnage -6% YoY; ocean container volume -26% YoY.
Salaries and related costs decreased 17% on lower commissions and bonuses.
Operating cash flow $546M; $213M returned via share repurchases in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

EXPEDITORS INTERNATIONAL OF WASHINGTON INC reported financial results for first quarter 2023.

Period: first quarter 2023
Result: reported results

Exact text from the filing

On May 2, 2023, Expeditors International of Washington, Inc., a Washington corporation, issued a press release announcing March 31, 2023 financial results.

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6 earnings releases filed in the last 30 days. Browse all earnings releases →

EXPEDITORS INTERNATIONAL OF WASHINGTON INC filing history →

Source: SEC EDGAR

accession 0000950170-23-016574

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