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Sep 30, 2021
Expeditors Q3 2021 Earnings Report
Expeditors' Q3 2021 earnings significantly increased due to strong volumes and high average sell and buy rates, driven by supply chain imbalances and disruptions.
Key Takeaways
Expeditors International of Washington, Inc. reported an 87% increase in EPS to $2.09 and an 84% increase in revenues to $4.3 billion compared to the same quarter of 2020. The company's performance was driven by strong volumes and high average sell and buy rates amid supply chain constraints.
Diluted EPS increased 87% to $2.09 compared to Q3 2020.
Net earnings attributable to shareholders increased 88% to $359 million.
Operating income increased 94% to $490 million.
Revenues increased 84% to $4.3 billion.
Revenue by Segment
Forward Guidance
Expeditors anticipates that the current challenging conditions in the global logistics infrastructure are likely to persist well into 2022, with no simple or immediate fix to the supply and infrastructure issues.
Positive Outlook
- Company's ability to adapt and perform exceptionally well on behalf of its customers.
- Strong operating efficiency.
- Close collaboration among employees.
- Ability to leverage carrier relationships to secure space.
- Strength of non-asset-based operating model.
Challenges Ahead
- Unpredictability of how long the current conditions will persist.
- Impact of current conditions on future operations.
- Continued scarce air and ocean capacity.
- Elevated and erratic air and ocean pricing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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