Expeditors International of Washington, Inc. - EXPD STOCK NEWS

Expeditors International of Washington, Inc. (NASDAQ: EXPD) announced its first quarter 2023 financial results. Diluted Net Earnings Attributable to Shareholders per share (EPS) decreased 29% to $1.45. Net Earnings Attributable to Shareholders decreased 35% to $226 million. Operating Income decreased 40% to $276 million. Revenues decreased 44% to $2.6 billion. Airfreight tonnage volume decreased 6% and ocean container volume decreased 26%.

Expeditors International of Washington (NASDAQ:EXPD) reported significant declines in its fourth quarter 2022 results compared to Q4 2021. Diluted EPS dropped 48% to $1.38, while net earnings fell 52% to $219 million. Revenues decreased by 36% to $3.4 billion, with airfreight tonnage down 20% and ocean container volume down 15%. CEO Jeffrey S. Musser noted a sudden plummet in demand and rates, exacerbated by shippers adapting to inflation and economic uncertainty. Operating income also dropped 47% to $330 million. Despite a robust cash flow of over $2.1 billion in 2022, the company plans to align expenses with revenues amid a challenging landscape.

Expeditors International of Washington (NASDAQ: EXPD) has declared a semi-annual cash dividend of $0.67 per share. This dividend will be payable on December 15, 2022, to shareholders of record by December 1, 2022. The company, based in Seattle, operates a global logistics network with services including air and ocean freight forwarding, customs brokerage, cargo insurance, and warehousing. Expeditors is dedicated to providing integrated logistics solutions through its extensive operations across six continents.

Expeditors International of Washington (NASDAQ:EXPD) reported a strong third quarter of 2022, with diluted EPS up 22% to $2.54 and net earnings rising 15% to $414 million. Despite operating income increasing 8% to $527 million, revenues gained only 1% to $4.4 billion. The company faced declines in airfreight tonnage (13%) and ocean container volume (10%), attributed to economic uncertainties and demand fluctuations. Management acknowledged higher inflation and energy costs impacting supply chains but remained optimistic about long-term adjustments and investments.

Expeditors International of Washington (NASDAQ:EXPD) reported a robust second quarter of 2022, with diluted EPS rising 23% to $2.27 and net earnings increasing 19% to $378 million. Operating income surged 23% to $506 million, while revenues climbed 28% to $4.6 billion. Despite these financial gains, airfreight tonnage and ocean container volumes fell 17% and 11%, attributed to a cyber-attack recovery and decreased demand due to economic conditions and lockdowns in China. The CEO emphasized ongoing market uncertainties affecting logistics operations.

Expeditors International of Washington (NASDAQ: EXPD) declared a semi-annual cash dividend of $0.67 per share on May 2, 2022. This dividend is payable on June 15, 2022 to shareholders of record as of June 1, 2022. Headquartered in Seattle, Washington, Expeditors operates with trained professionals across 176 district offices globally, offering a range of logistics services including air and ocean freight forwarding, customs brokerage, and warehousing solutions. This dividend payout reflects the company's commitment to delivering value to its shareholders.

Expeditors International of Washington (NASDAQ:EXPD) reported Q1 2022 financial results, showing a 23% increase in diluted EPS to $2.05 and a 21% rise in net earnings to $346 million. Revenues surged 46% to $4.7 billion, while operating income grew 20% to $462 million. Despite these gains, airfreight tonnage decreased 18% and ocean container volume fell 3%, primarily due to a cyber-attack that hampered operations. The company expects ongoing imbalances in supply and demand in the air and ocean sectors into the future.

Expeditors International of Washington (NASDAQ: EXTD) reported Q4 2021 results with diluted EPS up 129% to $2.66, net earnings rising 128% to $453 million, and operating income increasing 121% to $624 million. Revenues reached $5.4 billion, an 81% increase. Airfreight volume rose 13%, while ocean container volume fell 4%. CEO Jeffrey Musser highlighted ongoing challenges in global supply chains due to congestion and worker shortages. The company is also addressing a cyberattack, which could adversely affect operations and reputation.