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Expeditors International of Washington, Inc. (Symbol: EXPD) is a leading global logistics company headquartered in Seattle, Washington. As a Fortune 500 company, Expeditors employs over 14,600 trained professionals across a network of more than 250 locations spanning six continents. The company excels in providing customized logistics solutions to meet the sophisticated needs of international trade through its seamless, integrated information systems.
Expeditors' core services include air and ocean freight consolidation and forwarding, customs brokerage, cargo insurance, vendor consolidation, distribution, and other value-added logistics services. These services are designed to ensure efficient and effective supply chain management for their customers. As a non-asset-based organization, Expeditors possesses considerable flexibility in managing customer supply chains, leveraging its strong relationships with local suppliers and global air and ocean partners to offer the best routing and pricing options.
Recent achievements for Expeditors include advancements in their IT systems and expanding their global reach with new office locations. They derive approximately 34% of their consolidated net revenue from airfreight, 30% from ocean freight, and 36% from customs brokerage and other services. This diverse revenue stream highlights the company's strength and adaptability in the logistics sector.
At Expeditors, the focus is on being a solutions-based organization, taking the time to understand and meet each customer's unique business needs. The company's comprehensive range of services and global presence make it a significant player in the logistics industry, continuously adapting to the evolving market demands and technological advancements.
Expeditors International (NYSE:EXPD) announced that CEO Jeffrey S. Musser will retire on March 31, 2025, after 42 years with the company. Daniel R. Wall, current President of Global Geographies, will succeed as CEO effective April 1, 2025. Under Musser's leadership since 2014, the company grew from $6.1B in revenues and 14,000 employees to $10.6B and 18,000+ employees in 2024, returning $9.6B to shareholders and increasing EPS by 240%.
Wall, 56, joined Expeditors in 1987 and has held various leadership positions, including District Manager, Global Director, Vice President, and President roles. The Board believes Wall's experience and dedication make him the ideal candidate to lead the company forward. Upon retirement, Musser will step down from the Board, with Wall being appointed and standing for election at the upcoming Annual Meeting.
Expeditors International (NYSE:EXPD) reported strong Q4 2024 results with significant year-over-year improvements. EPS increased 54% to $1.68, while net earnings rose 49% to $236 million. Operating income grew 51% to $301 million, and revenues jumped 30% to $3.0 billion.
The company saw notable volume increases with airfreight tonnage up 11% and ocean container volume up 14%. Performance was driven by strong demand from Asia, heavy e-commerce business, and increased technology product demand. Ocean segment growth was influenced by capacity constraints due to Red Sea disruptions and longer transit times.
The company returned $1.1 billion to shareholders through stock repurchases and dividends in 2024, marking the third consecutive year of returning over $1 billion in capital to shareholders. During Q4, they repurchased 2.0 million shares at an average price of $120.14.
Expeditors International (NYSE:EXPD) has declared a semi-annual cash dividend of $0.73 per share. The dividend will be paid on December 16, 2024, to shareholders of record as of December 2, 2024. The company operates as a global logistics provider with 176 district offices across six continents, offering services including air and ocean freight consolidation, customs brokerage, cargo insurance, warehousing, and customized logistics solutions.
Expeditors International (NYSE:EXPD) reported strong Q3 2024 financial results, showing significant growth across all key metrics compared to Q3 2023. The company achieved a 41% increase in EPS to $1.63 and a 34% increase in Net Earnings to $230 million. Operating Income saw a 40% surge to $302 million, while revenues grew 37% to $3.0 billion. Operational performance was equally impressive, with airfreight tonnage up 19% and ocean container volume increasing by 12%.
Expeditors International of Washington (NYSE:EXPD) reported its Q2 2024 financial results, showing mixed performance compared to Q2 2023. Diluted EPS decreased 5% to $1.24, while net earnings attributable to shareholders fell 11% to $175 million. Operating income declined 10% to $224 million, but revenues increased 9% to $2.4 billion. Airfreight tonnage volume saw a 15% increase, while ocean container volume decreased 3%.
The company faced challenges due to rapid changes in buy versus sell rates, particularly on exports from Asia. Air market capacity was constrained by e-commerce demand, and ocean routing was disrupted by geopolitical events in the Red Sea. Despite these challenges, Expeditors continued to adapt, focusing on cost control and efficiency improvements.
Expeditors International of Washington, Inc. (NYSE: EXPD) declared a semi-annual cash dividend of $0.73 per share, payable on June 17, 2024, to shareholders of record as of June 3, 2024. Expeditors is a global logistics company based in Seattle, offering a range of services worldwide.
Expeditors International of Washington, Inc. (NYSE: EXPD) reported a decrease in first-quarter 2024 financial results compared to the same period in 2023. Diluted Net Earnings per Share (EPS) dropped by 19% to $1.17, Net Earnings decreased by 25% to $169 million, Operating Income fell by 22% to $215 million, and Revenues declined by 15% to $2.2 billion. Despite challenges like global conflicts, inflation, and uncertain demand, the company saw an increase in airfreight tonnage volume by 4% and ocean container volume by 2%. Expeditors remains focused on efficiency and cost management to navigate the volatile industry landscape.
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