Expeditors provides Q&A update on Middle East disruption, customs growth, and ocean market outlook

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

Middle East disruption minimal direct impact; air market sees higher jet fuel and tighter capacity; ocean re-routing with fuel pass-through.
Customs activity increased from tariff refunds (IEEPA) starting late April but minimal so far; technology including AI improves productivity.
Ocean market no sign of recovery due to global capacity-demand imbalance; company aligns costs accordingly.
AI-driven hyperscaler volumes hold strong; data center construction may peak by end of decade, but replacement demand continues.
Capital allocation unchanged: prioritize organic growth investments and return excess cash via dividends and share repurchases.

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