Expeditors Q2 2023 EPS $1.30, down 43% YoY; revenue falls 51% to $2.2B

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

2023-Q2 EPS reported $2.75 revenue$4,832,341,000

Diluted EPS $1.30, down 43% YoY; net earnings $197M, down 48% YoY.
Revenue $2.2B and operating income $248M each down 51% YoY.
Airfreight tonnage -15%, ocean container -13%; capacity exceeds demand and rates falling.
Management continues to reduce headcount and align costs; expects weak conditions through year-end.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

EXPEDITORS INTERNATIONAL OF WASHINGTON INC reported second quarter 2023 results: revenue $2.2 billion, net income $197 million, EPS $1.30.

Period: second quarter 2023
Revenue: $2.2 billion
Net income: $197 million
EPS: $1.30
Result: reported results

Exact text from the filing

Expeditors International of Washington, Inc. (NASDAQ:EXPD) today announced second quarter 2023 financial results including the following comparisons to the same quarter of 2022: • Diluted Net Earnings Attributable to Shareholders per share (EPS 1 ) decreased 43% to $1.30 • Net Earnings Attributable to Shareholders decreased 48% to $197 million • Operating Income decreased 51% to $248 million • Revenues decreased 51% to $2.2 billion

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Source: SEC EDGAR

accession 0000950170-23-039550

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