Expeditors Q1 EPS $1.17 (-19% YoY); revenue down 15% to $2.2B

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

2024-Q1 EPS reported $1.17 revenue$2,206,678,000

Net earnings attributable to shareholders fell 25% to $169M; operating income down 22% to $215M.
Revenue decreased 15% to $2.2B; airfreight tonnage up 4% YoY, ocean container volume up 2%.
CEO cites broad marketplace reset with growing carrier capacity and falling rates, impacting profitability.
Global conflicts, inflation, and uncertain demand continue to pressure the freight market.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXPEDITORS INTERNATIONAL OF WASHINGTON INC reported first quarter 2024 results: revenue $2.2 billion, net income $169 million, EPS $1.17.

Period: first quarter 2024
Revenue: $2.2 billion
Net income: $169 million
EPS: $1.17
Result: reported results

Exact text from the filing

Expeditors International of Washington, Inc. (NYSE:EXPD) today announced first quarter 2024 financial results including the following comparisons to the same quarter of 2023: • Diluted Net Earnings Attributable to Shareholders per share (EPS 1 ) decreased 19% to $1.17 • Net Earnings Attributable to Shareholders decreased 25% to $169 million • Operating Income decreased 22% to $215 million • Revenues decreased 15% to $2.2 billion

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Source: SEC EDGAR

accession 0000950170-24-054162

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