secwatch.observer — SEC 8-K summary
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Issuer:     EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD)
CIK:        0000746515
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0000950170-23-016574
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/746515/000095017023016574/0000950170-23-016574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/746515/000095017023016574/expd-20230502.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-016574

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