secwatch.observer — SEC 8-K summary
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Issuer:     EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD)
CIK:        0000746515
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0000950170-24-017029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Expeditors Q4 2023 EPS down 21% to $1.09; revenue falls 34% to $2.3B
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- Diluted EPS $1.09, down 21% YoY; net earnings $159M, down 28%.
- Operating income $199M (-40% YoY); revenues $2.3B (-34% YoY).
- Airfreight tonnage volume -3% YoY; ocean container volume -10% YoY.
- CEO cites Middle East/Red Sea conflicts and market uncertainty for softness.
- Company reduced headcount to align expenses with lower revenue; more cost controls planned.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/746515/000095017024017029/0000950170-24-017029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/746515/000095017024017029/expd-20240220.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-017029

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