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Jun 30, 2024
Expeditors Q2 2024 Earnings Report
Expeditors' financial performance decreased in Q2 2024, with EPS of $1.24.
Key Takeaways
Expeditors International of Washington reported a 9% increase in revenue to $2.4 billion for Q2 2024. However, net earnings attributable to shareholders decreased by 11% to $175 million, and operating income decreased by 10% to $224 million. Diluted EPS decreased by 5% to $1.24. Airfreight tonnage volume increased by 15%, while ocean container volume decreased by 3%.
Revenue increased by 9% to $2.4 billion.
Net earnings attributable to shareholders decreased by 11% to $175 million.
Operating income decreased by 10% to $224 million.
Diluted EPS decreased by 5% to $1.24.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company faces uncertainty regarding demand, capacity, and pricing, along with unpredictable events impacting global shipping.
Positive Outlook
- Focus on alignment of shipment activity with headcount.
- Continuing investments in people, processes, and technology.
- Strategic efforts to explore new areas for profitable growth.
- Customer-focused dedication of the workforce.
- Readiness to pivot for new challenges.
Challenges Ahead
- Erratic market conditions impacted by rapid changes and imbalances in buy versus sell rates.
- Air market capacity constrained by e-commerce demand.
- Ocean routing significantly disrupted by geopolitical events in the Red Sea.
- High expenses compared to efficiency target.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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